India and Vietnam Strengthen Ties in Digital Payments and Health

In a joint statement after a press meet here, Prime Minister Narendra Modi and visiting Vietnamese President To Lam acknowledged the advancements made by the Indian pharmaceutical industry.

The two sides agreed to explore ways for the potential participation of Indian companies in the procurement of medicines for Vietnamese public healthcare facilities from 2027, as mutually agreed.

Recognising the growing importance of technology, they encouraged cooperation in the digital transformation of healthcare, including the application of AI in the health sector.

Given the long history and rich heritage of traditional medicine in both countries, the leaders agreed to promote exchange of knowledge, research and best practices, while encouraging closer institutional linkages.

They also welcomed the progress towards the completion of the MoU on Traditional Medicine and the proposed MoU on the establishment of an Academic Chair in Ayurveda in Viet Nam.

The leaders reiterated the significance of digital technologies and welcomed the signing of the MoU between the Reserve Bank of India (RBI) and State Bank of Vietnam on financial innovation and digital payments.

They agreed to promote linkages for retail payment platforms via QR codes that would facilitate tourism and businesses of both sides.

According to an official statement, the leaders agreed to facilitate greater collaboration and partnership in critical and emerging technology areas such as Digital Public Infrastructure, 6G, Artificial Intelligence, space and nuclear technology, marine sciences, biotechnology, pharmaceuticals, advanced materials and critical minerals.

"Cooperation will focus on practical initiatives such as joint research, R&D centres, and product development as mutually beneficial," it added.

They recognised the relevance of Mission LiFE (Lifestyle for Environment) and institutions such as International Solar Alliance (ISA) in this regard. India welcomed Vietnam's interest to join the Global Biofuels Alliance (GBA).

The leaders also acknowledged the importance of the Coalition for Disaster Resilient Infrastructure (CDRI) in promoting international cooperation in disaster risk reduction and resilience. They encouraged further cooperation in applying digital and advanced technologies in smart agriculture, sustainable water management, and air pollution control.

The leaders noted with satisfaction the ongoing collaboration in the field of peaceful uses of atomic energy and agreed to intensify follow-up on various avenues of further cooperation emerging from the 4th India-Vietnam Joint Committee Meeting on atomic energy.

India appreciated Vietnam's invitation to participate in its nuclear power sector.

The leaders welcomed the signing of MoU between IREL (India) Limited and the Institute for Technology of Radioactive and Rare Elements, VINATOM, on mutual cooperation in the field of Rare Earths, and emphasized its early and full implementation.

Both leaders agreed to enhance collaboration in oceanography, including areas such as ocean observing platforms, data management, ocean prediction and services, capacity building and maritime scientific research.

- IANS