(MPI Portal) – On Sep 24th, Minister of Planning and Investment Bui Quang Vinh had a meeting with Ambassador of Israel Meirav Eilon Shahar received new mission in Vietnam.
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Minister Bui Quang Vinh meets Ambassador of Israel Meirav Eilon Shahar. Photo: Thanh Son (MPI Portal) |
Welcoming the Ambassador of Israel to receive new mission in Vietnam, Minister Bui Quang Vinh said Vietnam-Israel cooperation has been developing positively in terms of diplomacy as well as cooperation in economy, trade, training, exchange of experience science and technology, ... especially in the field of agriculture and health. The Minister added that the Israel has a good business environment and intellectual property rights enforced most strictly in the Middle East Region. To promote two-way investment, in the coming time the two sides should further facilitate the business community to exchange and contact in order to promote trade and investment process. It is need to encourage Israeli enterprises to invest in the fields such as high-tech agriculture, information technology, telecommunications, construction, processing and service which is the strengths of Israel and potential features of Vietnam.
Vietnam and Israel have conducted two negotiation sessions of Agreement on Investment Promotion and Protection in Jan 2008 and May 2009. The next negotiating session would be scheduled in Vietnam.
As for investment cooperation, as of August 2012, Israel had 14 investment projects in Vietnam with a total registered capital of over US$ 30 million, ranking 56/96 countries and territories investing in Vietnam.
As for development cooperation, in 2008, Israel provided non-refundable aid worth US$ 1.06 million to implement the project of high-tech dairy breeding and, in 2011, an addendum to Financial Cooperation Protocol was signed between the two countries worth US$ 100 million for project in concentrated dairy breeding and milk processing.
In recent years, trade turnover between Vietnam and Israel increased significantly. In the first seven months of 2012, it reached US$253.14 million, up 52.2% compared to the same period in 2011. Of which export revenue reached US$176.7 million, up 139.9%. The main exports included seafood, textiles, footwear ...
At the end of the meeting, the Ambassador of Israel Meirav Eilon Shahar confirmed that in her working term in Vietnam, she would attempt to promote cooperation on economy, trade and investment between the two countries. Hopefully, the two countries should continue to facilitate businesses contacting, seeking opportunities for cooperation. /.