March 17, 2011

Israeli firms seek Vietnamese agricultural investments

A delegation of 10 Israeli firms in hi-tech agriculture, food processing, dairy farming technology, seafood and electronics attended a conference in Hanoi on March 15 to seek Vietnamese business partners.

Doan Duy Khuong, vice chairman of Vietnam Chamber of Commerce and Trade (VCCI) said that the local firms are willing to cooperate with Israeli companies, especially in agro-technology, electronics and telecommunication.

Khuong spoke highly of Israel's economic growth and technological advancements. He also hoped that the conference will help businesses learn more about the markets of each country and solidify economic and trade relations.

Meanwhile, Mark Fishman from Israeli Green 200 Limited said that the Israeli enterprises that include dairy firms are ready to provide Vietnamese companies with hi-tech agricultural equipment and advanced farming technologies.

Cooperation between the two countries has increased with the signing of a series of agreements to create favourable conditions for technology transfer and for the implementation of the Double Taxation Avoidance Agreement.

Vietnam-Israeli trade jumped from US$66 million in 2004 to US$140 million in 2007 and more than US$220 million in 2010.

By end of February, Israeli firms invested US$31 million in 11 projects in the Southeast Asian country.