Under the MoU for comprehensive co-operation signed in New Delhi on Wednesday during the ongoing visit by President Truong Tan Sang, the carriers will jointly evaluate the possibility of direct services which will significantly contribute to the development of bilateral investment, trade, and tourism relations and a strategic partnership.
Addressing the signing ceremony, Sang hoped it would translate into fruitful co-operation and benefit both carriers.
"The signing of this MOU with Jet Airways, India's largest private airline, is a step in achieving the two countries' strategic partnership commitment," said Pham Ngoc Minh, president and CEO of Vietnam Airlines.
Naresh Goyal, chairman of Jet Airways, said: "This agreement with Vietnam Airlines is an integral part of our strategy for increased international growth and providing seamless service for travellers between India and Vietnam."
There is no direct flight yet between the two countries and passengers have to transit in one of the Southeast Asian countries.
Vietnam Airlines has a young fleet of 72 aircraft, mainly Boeing 777s, Airbus A330s and A321/320s, and operates more than 300 daily flights to 20 domestic and 26 international destinations.
Jet and its subsidiary JetLite have a fleet of 116 aircraft, including Boeing 737-700s/800s/900s, Boeing 777-300 ERs, Airbus A330-200s and ATR 72-500s, and operate 620 daily flights to 80 domestic and overseas destinations.