The Vietnam-Israel Business Forum took place in Hanoi on Nov. 24 in the presence of Israeli President Shimon Peres and Vietnamese Deputy Prime Minister Hoang Trung Hai.

In his speech, Deputy Prime Minister Hoang Trung Hai affirmed that the Vietnamese Government always encourages and creates conditions for Israeli businesses to operate in Vietnam .

Vietnam is impressed by Israel ’s business administration capacity and technology, Deputy PM Hai said, adding that Vietnam and Israel have cooperative potential in these fields.

President Shimon Peres said Vietnam , a large population country, and Israel can cooperate in many sectors, including agriculture and technology.

The President also shared Israel ’s experiences in agriculture and high technology, hoping for cooperation with Vietnam to create developmental opportunities for the two countries.

The two leaders witnessed the signing of a Memorandum of Understanding (MOU) between Vietnam Chamber of Commerce and Industry (VCCI) and the Federation of Israeli Economic Organisations, and a cooperative agreement between VCCI and the Federation of Israel Chamber of Commerce.

Two-way trade between Vietnam and Israel exceeded 220 million USD in 2010, representing a 34 percent increase over 2008.

Vietnam exports footwear, clothes and agricultural products to Israel and imports hi-tech equipment, chemicals and fertiliser.

Israel has provided an additional credit of 100 million USD for Vietnam this year and is ranked 54 th out of 93 countries and territories investing in the Southeast Asian country, with nine projects totalling nearly 33.8 million USD.

Israeli companies are investing in projects in Hanoi, Khanh Hoa province and Ho Chi Minh City, with joint agricultural projects using Israeli technology in Hanoi, Hai Phong city, Nghe An province, Da Lat city (Lam Dong province) and Ho Chi Minh City showing good results./.