HANOI: India said Saturday it is giving Vietnam half a billion dollars in credit to boost defense ties, the latest security deal between the two nations seeking to counter Beijing’s muscle-flexing in the South China Sea.
Indian Prime Minister Narendra Modi made the announcement during a visit to Hanoi, which has gone on a spending spree in recent years to expand and modernize its military arsenal amid territorial disputes with Beijing in the strategically vital waterway.
“I am also happy to announce a new defense credit for Vietnam of $500 million for facilitating deeper defense cooperation,” Modi told reporters after officials signed …read more
Source: The Manila Times
