Vietnam looks at India for infra projects

With Vietnam lauding India for its position on the freedom of navigation in South China Sea, Hanoi on Tuesday moved ahead and sought India's expertise in developing infrastructure, construction of seaports, production of steel, generation of power, and in the fields of electronics and oil exploration.

This is seen as a strategic move by Vietnam to counter China, as all these areas from infrastructure development to oil exploration are considered to be China's core strengths.

The two sides also signed an MoU on cooperation in the field of Micro, Small and Medium Enterprises, between the Ministry of Micro, Small and Medium Enterprises and Vietnam's Ministry of Planning and Investments.

After holding bilateral talks with Vice-President Hamid Ansari, Vietnam's Vice-President Nguyen Thi Doan said, "We welcome Indian enterprises to invest in Vietnam in the fields where India has strength and Vietnam has demand, including infrastructure development, seaport construction, steep production, power generation and electronics, oil exploration."

Ansari said, "Indian companies have ventured into Vietnam in increasing numbers with investments in diverse sectors... Indian companies in the field of oil and gas exploration are already actively engaged in several projects in Vietnam. India is also prepared to continue extending lines of credit on concessional terms, especially for infrastructure development."

India's position on South China Sea was appreciated by the Vietnamese leadership.

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