PM Narendra Modi said, “Happy to announce new defence Line of Credit of US$ 500 mn for facilitating deeper defence cooperation between India and Vietnam.” (Source: ANI)

PM Modi in Vietnam: Prime Minister Narendra Modi, who arrived in Hanoi, the Vietnamese capital last night, said that India and Vietnam share traditionally close relations and this visit is a reinforcement of the friendship and cooperation. With an aim to give a boost to bilateral ties, both the countries signed 12 agreements for cooperation in key areas like defence and IT. PM Modi, also announced a new line of credit of $500 million for Vietnam in order to improve defence cooperation.

Prime Minister Narendra Modi, will also meet President Tran Dai Quang to deepen ties in key areas of defence, security and trade, oil exploration, solar energy and some other sectors. Besides, Prime Minister Modi will also meet, Communist Party general secretary Nguyen Phu Trong, National Assembly Chairperson Nguyen Thi Kim Ngan. The Prime Minister will begin his day by paying homage to national heroes and martyrs at their monuments on Saturday morning. Prime Minister Modi, who is the fourth Indian Prime Minister to visit Vietnam during past about 50 years, will be given the guard of honour and ceremonial welcome by the Vietnamese Government.

Both the sides held bilateral talks, which was hosted by Prime Minister Phuc’s banquet lunch at International Convention Centre in the honour of PM Modi. Earlier, upon his arrival in Hanoi, senior government functionaries of the Vietnamese Government and Indian Ambassador P. Harish, along with other officials, welcomed Prime Minister Modi at Nai Bai International Airport.

Hundreds of Indian and local schoolchildren waving national flags of both the countries were also present at the airport. In the meantime, extending his greetings to the people of Vietnam on their National Day, before leaving for the two-nation tour, the Prime Minister in a series of posts on his Facebook account said Vietnam is a friendly nation with whom we cherish our relationship.

India will be offering $5 million grant to establish a Software Park in Nha Trang’s Telecommunications University. The Ministry of external affairs said that new trade and business opportunities will be tapped to achieve the trade target of $15 billion by the year 2020.

(with agency inputs)