Indian Defence Minister Shri Rajnath Singh handed over the 12 high-speed guard boats to Vietnam at a ceremony at Hong Ha Shipyard. Defence Minister is on a three-day visit to the South East Asian nation on the occasion of 50 years of establishment of India-Vietnam diplomatic relations.
The country has an strategic importance for India, as it is an important partner in India's Act East policy and the Indo-Pacific vision.
The high-speed guard boats were constructed under the Government of India’s $100 million defence Line of Credit (LoC) extended in September 2014 and these speed boats will be operated by the Vietnamese Border Guard Force. The boats were constructed under the 'Aatmanirbhar Bharat' (self-reliant India) programme.
In 2016, India has extended another $500 million defence LoC to Vietnam and discussions are under way to identify the equipment.
The project was executed by Larsen & Tourbo (L&T) and of the 12 boats, five were built in India while the remaining were built in Vietnam with assistance from L&T.
During this visit, both the countries signed a mutual logistics support agreement and it is the first such major agreement that Vietnam has signed with any country.
Also the ‘Joint Vision Statement on India-Vietnam Defence Partnership towards 2030’. The agreement would significantly enhance the scope and scale of existing defence cooperation.