Hanoi (VNA) – A seminar was held inHanoi on March 29 to provide Vietnamese firms with the latest information abouttrade development opportunities in Israel.
Deputy head of the Trade Promotion Agency underVietnam’s Ministry of Industry and Trade Le Hoang Tai said Vietnam and Israelhave set up cooperation in wide-ranging fields since they establisheddiplomatic ties in 1993.
Two-way trade surpassed 1 billion USD in 2017with Vietnam’s exports to Israel worth over 700 million USD, he cited.
As of 2017, Israel ran 26 direct investmentprojects in Vietnam with total capital of over 47 million USD, ranking 11thamong the 56 countries and territories investing in the Southeast Asian country.
Notably, the processing and manufacturingindustries attracted seven foreign direct investment (FDI) projects worth morethan 25 million USD.
Israel has pledged to provide a credit packageof 250 million USD for Vietnamese businesses in the coming time, he added.
Deputy head of the Ministry of Industry andTrade’s Department of Asia-Africa Market Le Thai Hoa said Israel has adeveloping economy with hi-tech industries playing the crucial role.
He hoped Israel will promote technologicaltransfer to Vietnam to develop the economy.
Israel is one of the countries with hi-techagriculture development, he said, adding that Vietnam could become a potentialmarket for Israeli businesses in manufacturing and creating state-of-the-artfarming equipment.
Vietnam is able to export farm produce likerice, coffee, tea, pepper, and timber products, as well as garments andfootwear to the country.
He suggested Vietnamese enterprises activelyparticipate in trade fairs and coordinate with relevant agencies to promotetheir products.-VNA