Israel Vietnam trade relations

Israel Vietnam Trade relations

  •   Many opportunities and potential for expansion

    Click to view article on VN Business Forum Magazine

    The trade and investment cooperation between Vietnam and Israel has enjoyed significant growth so far. Many Israeli companies have been engaged in modern industry projects in Hanoi, Khanh Hoa, Ho Chi Minh City, the Central Highlands and others in variety of fields including agricultural technology, water management, telecoms and others.

  • Vietnam News
    Vietnam Israel trade relations
    Economic relation between Israel and Vietnam has been growing during the last years. In 2011, bilateral trade exchange turnover between two countries reached US$532 million. Israeli exports to Vietnam reached US$334 million, a 173 percent increase Y-O-Y. Israel mainly exports electronics & machinery (60 percent), chemicals and minerals. Israeli imports from Vietnam reached US$198 million, a 51 percent increase Y-O-Y. Israel mainly imports natural products (35 percent) and textiles & shoes (28 percent) from Vietnam.   
    Exchanges of delegations are regularly organized in order to promote the mutual demands of the two sides. In June 2011, a delegation led by the Minister of Information and Communication visited Israel, which was the first official visit of a Vietnamese minister in Israel for 12 years. The Economic Department of the Embassy of Israel in Hanoi coordinated 7 delegations including 70 Vietnamese officials and businessmen to attend Watec Exhibition 2011 on water solutions in Israel. Israeli companies are also coming to Vietnam to seek business opportunities. In the same year, 10 Agro technology companies visited Vietnam to meet with potential partners. Besides, many business seminars have been held last year such as Seminars on Water Solutions in Hanoi and Hai Phong, Seminars on Agricultural technology in Hanoi and Ho Chi Minh City.
    Remarkably, in November 2011, at the invitation of the President of the Socialist Republic of Vietnam, H.E. Mr. Truong Tan Sang, the President of the State of Israel, H.E. Mr. Shimon Peres an official visit to Vietnam. The Minister of Science and Technology Minister and Minister of Agriculture and Rural Development also accompanied the President. The delegation included Israel’s Manufacturers Association President and 60 representatives of leading Israeli firms in the fields of infrastructure, communications, finance, high-tech, agricultural and water technology. The Israeli-Vietnam Business Forum was successfully organized and proved to be an opportunity to promote knowledge exchange and explore cooperation opportunities between Vietnamese and Israeli partners in the above mentioned areas. This historical visit may open doors for further cooperation between the countries in Information and Communications Technology (ICT), Homeland Security, Agricultural Technology, Water Technology and many more.
    These forums will continue to act as a bridge between both countries in terms of boosting economic and trade ties

  • Business opportunities

    Many Israeli companies have been engaged in modern industry projects in Hanoi, Khanh Hoa, Ho Chi Minh City, the Central Highlands and others in variety of fields including agricultural technology, water management, telecoms and others.
    One of the highlighted projects is the TH Milk project by a Vietnamese company, applying Israel’s consultancy and technology to establish one of the biggest industrial dairy farms in the world. Afimilk, an Israel’s leading company in this area, is the partner who transferred technology to this joint venture of US$1.2 billion (Period 1 is US$350 million and will be completed in 2012). Besides the crucial project of dairy product, TH is also developing several projects applying most advanced technology and know-how of Israel through Israeli companies including Green 2000, Maof. Ltd.
    Also in the area of dairy, an example of the cooperation between the two Governments is the Dairy Demonstration and Experimental Farm in Ho Chi Minh City, of which the construction is almost completed. This project is between Israel’s Ministry of Foreign Affairs and Ho Chi Minh City, also designed to serve as a model for milk production industry throughout Vietnam. The project also includes training of manpower on technologies, production and management of intensive and quality milk production, which may contribute to the development of the dairy sector in the country
  • Training and know-how

    As part of the efforts to strengthen economic ties between the two countries, the training programme on Agriculture has been implemented by Israel’s Agency for International Development Cooperation, Ministry of Foreign Affairs (MASHAV) and the Embassy of Israel in Hanoi. Within this framework, hundreds of trainees from Vietnam come to Israel, on an annual basis, for an eleven-month combined work-study program with a monthly wage. The trainees are expected to establish agricultural farms in their own countries, which will apply advanced Israeli technologies – greenhouses, drip irrigation equipment, seeds, etc. This training programme may encourage Israeli companies to come to Vietnam, which will facilitate the cooperation between two sides.
    According to the Asia Pacific Market Department under Vietnam’s Ministry of Industry and Trade, at present, the two countries have cooperative potentials in many areas such as agricultural technology, bio-technology, water treatment, telecom, food preservation, electronics, healthcare.
    The trade cooperation and investment between Vietnam and Israel has enjoyed significant growth and there are still many opportunities and potential for expansion. Both countries have complementary strengths: Vietnam has natural resources, skills and labor force; Israel has technologies and know-how and above all, both sides have a good will to work together.
    In May 2012, Israel will host the 18th International Agricultural Technology Exhibition “Agritech” at the Israel Trade Fairs and Convention Center in Tel Aviv, and hopefully there will be participation from Vietnamese delegations!