Nearly 30 Israeli enterprises came together at a roundtable conference in Tel Aviv on June 29 to explore business and investment opportunities in Vietnam.
|The roundtable conference takes place in Tel Aviv on June 29.
They are active in fields such as farm produce processing, aquaculture, dairy, telecoms, medical equipment, water treatment, and high technology in security and agriculture.
Vietnamese Ambassador to Israel Do Minh Hung told participants that Vietnam has successfully curbed the COVID-19 pandemic and is implementing a number of policies to boost economic recovery, draw foreign investment, and welcome a shift of production investment to Vietnam post-pandemic.
With a large market and active engagement in bilateral and multilateral free trade agreements (FTAs), Vietnam holds a great deal of potential, he said, adding that cooperation between Vietnam and Israel is developing well and the two sides are actively negotiating an FTA.
The ambassador welcomed Israeli companies to explore cooperation opportunities with Vietnamese partners.
Two-way trade between Vietnam and Israel surpassed US$1.15 billion in 2019, with Vietnam’s exports to Israel worth US$774 million.
Israel is the third-largest export market of Vietnam in the Middle East.
In the first five months of 2020, Vietnam exported US$274 million worth of goods to Israel and imported US$375 million worth of goods.
Israel has had 31 investment projects worth US$78.99 million in Vietnam, ranking it 50th out of 135 countries and territories.