Describing Vietnam as an important partner in India's Indo-Pacific vision, Prime Minister Narendra Modi on Monday said cooperation between the two countries can contribute to maintaining peace and stability in the region.

At a virtual summit with Vietnamese Prime Minister Nguyen Xuan Phuc, Modi said India looks at its ties with Vietnam with a long-term and strategic perspective.

"Vietnam is an important pillar of India's Act East policy," Modi said in his opening remarks, adding the scope of the comprehensive strategic partnership between the two countries has expanded significantly.

"Peace, stability and prosperity in the Indo-Pacific region is our common aim. Our cooperation can make an important contribution in maintaining peace and stability in the region," said Modi.

He also complimented Vietnam for the way the country handled the coronavirus pandemic.

India and Vietnam upgraded their relationship to a comprehensive strategic partnership in 2016 and defence cooperation has been one of the most significant elements in the fast-expanding bilateral ties.

Both countries have stakes in the Indo-Pacific and are aiming to explore the potential for further cooperation in the region.

At the East Asia Summit in Bangkok last year, Prime Minister Modi proposed setting up of the Indo-Pacific Ocean's Initiative (IPOI) to conserve and sustainably use the maritime domain and to make meaningful efforts to create a safe and secure maritime domain.

The 10-nation ASEAN has reflected its vision for the region in a document titled 'ASEAN Outlook on the Indo-Pacific (AOIP)'.