The Prime Minister(PM) of Vietnam H.E. Pham Minh Chinh paid a State Visit to India from 30 July to 1 August 2024, at the invitation of Narendra Modi PM of India to deepen comprehensive strategic partnership and enhance cooperation between the two countries.
- This is the first visit of a Vietnamese leader to India after India and Vietnam established their comprehensive strategic partnership in September 2016. This was the fifth meeting between the two PMs in the last few years.
- He was accompanied by a high level delegation including several Ministers, deputy Ministers and business leaders.
- This visit resulted in the signing of various agreements, MoUs and other strategic developments.
Vietnam-India Business Forum:
PM Pham Minh Chinh attended the Vietnam-India Business Forum held in New Delhi. The forum, jointly organised by the Federation of Indian Chambers of Commerce & Industry (FICCI) and the Vietnamese Embassy in India, also facilitated the signing of several Memorandums of Understanding (MoUs) aimed at enhancing trade and investment between the two countries.
- Vietnamese airline Vietjet Air announced a new direct flight route between Da Nang, Vietnam, and Ahmedabad, India at the Vietnam-India Business Forum.
The MoUs are
i.MoU involved Vietnam Airlines and Innovations India, who will collaborate on the film “Love in Vietnam” and the 3rd edition of the India – Vietnam Festival of Friendship, also known as Namaste Vietnam Festival 2024.
ii.MoU for cooperation in Customs Capacity Building between the Central Board of Indirect Taxes and Customs of India and the General Department of Viet Nam Customs, Viet Nam.
iii.MoU between Central Agricultural University(CAU),Imphal, Manipur and Vietnam Academy of Agricultural Sciences, Hanoi, Viet Nam for cooperation in Agricultural Research and Education.
iv.MoU between the Ministry of Justice of the VietNam and the Ministry of Law and Justice of India on cooperation in the legal field.
v.MoU between Prasar Bharati, New Delhi, India and the Voice of Viet Nam (VoV), Hanoi, Viet Nam for cooperation on Radio and Television.
vi.Letter of Intent between India and Vietnam for the conservation and restoration of F Block in My Son, Quang Nam Province, Viet Nam.
vii.MoU between the Traditional Medicine Administration Ministry of Health of Vietnam and the National Medicinal Plants Board, Ministry of Ayush of Government of India on cooperation in the Field of Medicinal Plants.
viii.MoUs on partnerships between Invest Global and Crescendo Worldwide Private Limited, ARTIA, Gujarat Chamber of Commerce & Industry(GCCI), and FII to promote trade and investment.
ix.MOU between Sovico Group, Vietnam and Adani group, Ahmedabad, Gujarat on cooperation in Aviation, Airport and logistics industry.
x.MOU between Hoang Lam Pharmaceutical, Vietnam and Cosmetics JSC, Vietnam and STEMPEUTICS Research Private Limited, Bengaluru(Karnataka) on distributing STEMPEUTICS products and applying new technologies and techniques (stem cells) in Vietnam, as well as collaborating to set up a Lab in Viet Nam.
xi.T&T Group, Uttar Pradesh(UP) and Ramky Group, Hyderabad, Telangana signed MoU on cooperation about the pharmaceutical industrial park.
India and Vietnam Strengthen Strategic Partnership with New Action Plan:
India and Vietnam agreed on a new plan of action, which will be implemented over the next five years (2024-2028) to strengthening bilateral trade and economic cooperation.
- During the visit, it was announced that Vietnam will join the Coalition for Disaster Resilient Infrastructure (CDRI), the second major coalition launched by India outside of the United Nation(UN), the first being the International Solar Alliance(ISA).
PM Modi & Vietnam PM inaugurate Army Software Park in Vietnam:
On 1st August, 2024,PM Modi and Vietnam PM Pham Minh Chinh virtually inaugurated the Army Software Park in the Telecommunications University in Nha Trang, Vietnam.
- The Army Software Park has been built with a USD 5 million grant from India.
India Offers USD 300 Million Loan to Boost Maritime Security:
In a sign of their growing strategic partnership, India has extended two Lines of Credit (LoC) amounting to USD 300 million to Vietnam to bolster the country’s maritime security.
- The LoC will be used by Vietnam for Coast Guard(CG) ships and for fast border patrol boats.
India and Vietnam Team Up to Preserve Maritime History with NMHC in Lothal, Gujarat:
India and Vietnam joined hand to Preserve Maritime History with National Maritime Heritage Complex (NMHC) in Lothal, Gujarat.
- Regarding this, Memorandum of understanding(MoU) signed between Ministry of Ports, Shipping, and Waterways (MoPS&W), Government of India(GoI) and the Ministry of Culture, Sports, and Tourism of Vietnam on Cooperation and Development of the NMHC.
About Viet Nam:
Prime Minister(PM) – Pham Minh Chinh
President – To Lam
Capital – Hanoi
Currency –Vietnamese dong
