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HIGH SPEED GUARD BOAT LAUNCH AND KEEL LAYING CEREMONY UNDER US$ 100 MILLION DEFENCE LINE OF CREDIT

Posted on: April 09, 2021 | Back | Print

Ambassador Pranay Verma was invited by the General Department of Defence Industry of Vietnam under the Ministry of National Defence to the Hong Ha Shipyard at Hai Phong on 9 April 2021 to launch and lay keel for two of the twelve High Speed Guard Boats being built for Vietnam Border Guard Command under the US$ 100 million Defence Line of Credit extended by Government of India.

2. Defence cooperation is an important pillar of the Comprehensive Strategic Partnership between India and Vietnam. Ministries of Defence of both countries share a close relationship and bilateral Defence engagements have diversified to wide-ranging contacts between the services, military to military exchanges, including visits of senior military leaders, capacity building and training programmes and bilateral exercises.

3. As part of India’s commitment to enhancing Defence Industrial Cooperation with Vietnam and assistance towards capacity building of Vietnam’s Defence forces, Government of India has extended Defence Lines of Credit amounting to US$ 600 million to Vietnam. Twelve High Speed Guard Boats are being constructed for Vietnam Border Guard Command under the US$ 100 million Defence Line of Credit; five boats are being built by M/s Larsen & Toubro (L&T) in India and seven boats in Hong Ha Shipyard Company in Vietnam. Despite the disruptions caused due to COVID-19 pandemic situation, the project has progressed at a rapid pace. The first of these vessels was launched at the time of the Virtual Summit held between Prime Ministers of India and Vietnam on 21 December 2020.

4. In his remarks at the event, Ambassador Pranay Verma described the project as an icon of India-Vietnam Defence Partnership and reflecting India’s commitment towards defence industry cooperation with Vietnam and capacity building of Vietnam’s defence forces. He noted the importance of the project as it coincided with preparations to celebrate the 75th Anniversary of India’s Independence and 50th anniversary of India-Vietnam diplomatic relations. Ambassador expressed confidence that the Comprehensive Strategic Partnership and Defence relations between the two countries will continue to grow as an important factor of stability in the Indo-Pacific Region under the guidance of the historic “Joint Vision for Peace, Prosperity and People” adopted by the Prime Ministers of the two countries at the Virtual Summit on 21 December 2020.

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