Vietnam's defense spending will reach more than $8 billion by 2027

*Military parade past Ho Chi Minh Mausoleum on October 10, 2010, in Hanoi*

In order to protect its sovereignty over the East Sea (South China Sea) along with modernizing its navy and air force, Vietnam has increased its defense spending over the years with an annual increase of 8.1% and can reach $8.5 billion by 2027, according to data analytics firm GlobalData.

Australia’s Asia-Pacific Defense Reporter (APDR) news website on February 8 quoted an analyst at GlobalData, Mr. Akash Pratim Debbarma, as saying: “Although Vietnam’s economy has been seriously affected by the ongoing COVID-19 pandemic, the country has shown significant recovery. Vietnam’s plan to buy Midget submarines and patrol boats shows its commitment to protecting national interests and defending its sovereignty claims against foreign encroachments, currently from China.”

According to APDR, Vietnam wants to buy Russia’s fifth-generation stealth aircraft, the Su-57. In addition, Vietnam also plans to buy Yak-130 training aircraft and this will prepare Vietnam to buy modern fighters from Russia such as Su-30S.

According to Mr. Debbarma, Vietnam’s decisions about its capabilities in the future are not only based on the changing strategic environment but also show a good relationship with Russia if you look at the fact that Vietnam will buy Russian weapons in the future.

Thoibao.de (Translated)

Source: https://www.rfa.org/vietnamese/news/vietnamnews/vietnam-aims-to-enhance-its-naval-and-air-forces-02082022065640.html

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