Some 35 Israeli companies explore business and investment opportunities in Vietnam during a seminar in Tel Aviv on November 5. (Photo: VNA) Tel Aviv (VNA) – Some 35 Israeli companies explored business and investmentopportunities in Vietnam during a seminar co-held by the Vietnamese TradeOffice and Israel-based accounting and consulting firm BDO in Tel Aviv onNovember 5.
The firmsincluded manufacturers,investors and importers of various products, ranging from foods, consumergoods, to clothing, electronics, furniture and construction materials.
Opening the event,Vietnam Desk Manager of BDO Israel Einat Halevy Levin provided attendees with an outlook of the Vietnamese market, saying theseminar is a good chance for Israeli firms to explore and get updates aboutbusiness opportunities in Vietnam.
Vietnamese tradecounsellor Le Thai Hoa, for his part, gave an overview of Vietnam’s economy,the Free Trade Agreements the country has joined or is negotiating, itsbusiness climate and investment support policies.
Representativesof some Israeli companies said they wish to learn about Vietnam’s investmentincentives and how the Vietnamese government will assist Israeli companies in seeking and getting in touchwith Vietnamese manufacturers of products they want to import.
Others sharedexperiences in doing business with their Vietnamese partners, saying the twosides still have plenty of room for cooperation.
Lateststatistics indicated in the first nine months of 2019, the Vietnam – Israeltrade exceeded 790 million USD, with Vietnam enjoying a trade surplus of approximately410 million USD.
Vietnam’sexports to Israel are likely to hit over 800 million USD this year whileimports from Israel are estimated at about 260 million USD.
In the firstthree quarters, Israel exported 39.26 billion USD worth of goods and services,including raw and polished diamonds, a year-on-year decrease of 3.47 percent.The country’s imports slightly increased to 56.65 billion USD. Its tradedeficit grew 10.2 percent year on year to 17.39 billion USD./.
VNA
