India and Vietnam have reaffirmed their commitment to enhancing collaboration in the health sector and emphasized the importance of connecting digital technologies like UPI-based retail payments. Prime Minister Narendra Modi and Vietnamese President To Lam, in a joint statement, acknowledged the progress made by the Indian pharmaceutical industry.
Both countries have agreed to explore opportunities for Indian companies to participate in the procurement of medicines for Vietnamese public healthcare facilities starting in 2027. Recognizing the increasing significance of technology, they have encouraged cooperation in the digital transformation of healthcare, including the utilization of AI in the health domain.
Acknowledging the extensive history and traditional medicine heritage of both nations, the leaders have agreed to promote the exchange of knowledge, research, and best practices while fostering closer institutional ties. They have also welcomed the advancements towards finalizing the MoU on Traditional Medicine and the proposed establishment of an Academic Chair in Ayurveda in Viet Nam.
The leaders highlighted the importance 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 have agreed to enhance linkages for retail payment platforms through QR codes to facilitate tourism and business interactions between both countries.
In a bid to promote greater collaboration and partnership in critical and emerging technology sectors, both nations will focus on areas such as Digital Public Infrastructure, 6G, Artificial Intelligence, space and nuclear technology, marine sciences, biotechnology, pharmaceuticals, advanced materials, and critical minerals. Cooperation will center on practical initiatives like joint research, R&D centers, and product development for mutual benefit.
