Israeli firms explore business opportunities in Vietnam
Some 35 Israeli companies explored business and investment opportunities in Vietnam during a seminar co-held by the Vietnamese Trade Office and Israel-based accounting and consulting firm BDO in Tel Aviv on November 5.
Some 35 Israeli companies explore business and investment opportunities in Vietnam during a seminar in Tel Aviv on November 5. (Photo: VNA)
Tel Aviv (VNA) – Some 35 Israeli companies explored business and investmentopportunities in Vietnam during a seminar co-held by the Vietnamese TradeOffice and Israel-based accounting and consulting firm BDO in Tel Aviv onNovember 5.
The firmsincluded manufacturers,investors and importers of various products, ranging from foods, consumergoods, to clothing, electronics, furniture and construction materials.
Opening the event,Vietnam Desk Manager of BDO Israel Einat Halevy Levin provided attendees with an outlook of the Vietnamese market, saying theseminar is a good chance for Israeli firms to explore and get updates aboutbusiness opportunities in Vietnam.
Vietnamese tradecounsellor Le Thai Hoa, for his part, gave an overview of Vietnam’s economy,the Free Trade Agreements the country has joined or is negotiating, itsbusiness climate and investment support policies.
Representativesof some Israeli companies said they wish to learn about Vietnam’s investmentincentives and how the Vietnamese government will assist Israeli companies in seeking and getting in touchwith Vietnamese manufacturers of products they want to import.
Others sharedexperiences in doing business with their Vietnamese partners, saying the twosides still have plenty of room for cooperation.
Lateststatistics indicated in the first nine months of 2019, the Vietnam – Israeltrade exceeded 790 million USD, with Vietnam enjoying a trade surplus of approximately410 million USD.
Vietnam’sexports to Israel are likely to hit over 800 million USD this year whileimports from Israel are estimated at about 260 million USD.
In the firstthree quarters, Israel exported 39.26 billion USD worth of goods and services,including raw and polished diamonds, a year-on-year decrease of 3.47 percent.The country’s imports slightly increased to 56.65 billion USD. Its tradedeficit grew 10.2 percent year on year to 17.39 billion USD./.
The Tel Aviv administration is willing to cooperate with Vietnamese localities and share experience in smart city development, tourism, investment and business, aiming to deepening the relations between Israel and Vietnam, Tel Aviv Mayor Ron Huldai told Vietnamese Ambassador to Israel Do Minh Hung.
Bilateral trade between Vietnam and Israel will continue thriving this year with its value likely to top 1 billion USD, the Vietnamese trade office in Israel said on August 28.
Vietnam-Israel trade reached over 790 million USD in the first nine months of 219, with Vietnam’s export revenue of about 410 million USD, according to the Vietnam Trade Office in Israel.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Some 35 Israeli companies explore business and investment opportunities in Vietnam during a seminar in Tel Aviv on November 5. (Photo: VNA)
