India offers $300 million loan to build up Vietnam’s maritime security, saying it is a key partner

Associated Press

NEW DELHI (AP) — India has offered Vietnam a $300 million loan to build up the Southeast Asian country’s maritime security, as the two sides say they want to double their trade and investment within five years. Prime Minister Narendra Modi on Thursday told visiting Vietnamese Prime Minister Pham Minh Chinh that India considers Vietnam a key pillar of its policy toward Southeast Asian nations and an important partner in its Indo-Pacific vision. After their talks, Chinh told reporters the world was facing fierce security challenges but there are opportunities for cooperation. The prime ministers said both sides wanted to further their cooperation in defense and in areas including semiconductors, green technology, artificial intelligence, cloud computing and climate action.