In a pot over medium-high heat, brown the vermicelli in the oil for 2 to 3 minutes, stirring constantly. Add the rice and cook for 30 seconds, stirring to coat in the oil. Add the water. Season with salt. Bring to a boil. Cover and simmer for 15 minutes over low heat or until the liquid is completely absorbed. Remove from the heat and let sit, covered, for 5 minutes.