Heat oil in large saucepan over medium-high heat until hot. Add chicken; cook and stir until browned. Add onion, celery and garlic; cook and stir until vegetables are crisp-tender. Stir in basil, pepper, water, broth and tomatoes. Bring to a boil. Reduce heat to low; cover and simmer 5 minutes.
Stir in corn and vermicelli. Cover; simmer 10 minutes or until soup is thoroughly heated and vermicelli is tender. Sprinkle each serving with Parmesan cheese.