Ms. Sabine Segal, Deputy General Director of the Israeli Export Institute, speaking at the event (Photo: VNA)

The conference attracted the direct participation of representatives of the Israeli Ministry of Economy and Industry and nearly 30 Israeli enterprises operating in the fields of business, investment, production, processing of agricultural products, fisheries, dairy, telecommunications equipment, medical equipment, water treatment, high-tech solutions for Internet security and agricultural applications.

Speaking at the opening of the conference, Ms. Sabine Segal, Deputy General Director of the Israeli Export Institute, said that this was the first event held with the direct participation of business representatives in the context of the COVID-19 pandemic being under control.

The conference is an opportunity for Israeli businesses to learn about and access business cooperation and investment opportunities in the Vietnamese market in the post-COVID-19 period.

Ms. Sabine Segal announced that many Israeli businesses are expressing their interest in business opportunities in the Vietnamese market.

At the event, Vietnamese Ambassador to Israel Do Minh Hung informed about the negative impact of the COVID-19 pandemic on financial and trade activities in the world, especially in the major economies amid US-China trade tensions.

The ambassador said that Vietnam has successfully controlled the COVID-19 pandemic and is implementing a series of new policies and measures to promote economic development, attract foreign investment, and welcome a wave of investment movement of foreign enterprises to Vietnam in the post-COVID-19 period.

With its large market scale and active participation in the network of multilateral and bilateral free trade agreements, Vietnam has significant attractive potential.

Cooperation between Vietnam and Israel is developing well, the two sides are actively negotiating bilateral free trade agreements. Ambassador Do Minh Hung welcomed Israeli businesses to do surveys and seek business cooperation opportunities with Vietnamese partners.

Mr. Le Thai Hoa, Commercial Counselor in charge of the Vietnam Trade Office, introduced the investment and business environment, as well as investment attraction policies of Vietnam.

He also pointed out cooperation opportunities between the business communities of the two countries, affirming that the bilateral free trade agreement between Vietnam and Israel is being actively negotiated to be signed in the coming time to create more favorable conditions for enterprises to access each other's markets.

Trade exchange between Vietnam and Israel reached USD1.156 billion in 2019, of which Vietnam's exports and imports reached USD774 million and USD382 million, respectively.

Israel is Vietnam's third largest export market in the Middle East. Vietnam’s key export items to the Israeli market include mobile phones and components, seafood, cashew nuts, footwear, textiles and coffee.

Vietnam’s import items from Israel mainly include computers and components, fertilizers, machinery and equipment, spare parts, vegetables and fruits.

In the first five months of 2020, in the context of the COVID-19 pandemic, Vietnam's export turnover to Israel reached USD274 million, while imports from this market were USD375 million.

Up to now, Israel has 31 investment projects in Vietnam with a total investment of USD78.99 million./.