Vietnam’s tourism, trade potential popularised in Israel

Ambassador Ly Duc Trung said Vietnam boasts much room for receiving investment and promoting production. Coming to the country, Israeli people and enterprises can access diverse material sources, travel companies can organise agro-tourism trips, while investors can help raise local agricultural products’ value.

He suggested tech firms of Israel introduce advanced technologies and techniques to help Vietnam improve the agricultural production capacity, noting that with high technology applied further, farm produce will have higher added value and competitiveness when being exported to regional and global markets.

Expressing their wish to tap into bilateral cooperation potential in trade and tourism, other participants in the event pointed out that Israeli people are eager to visit Vietnam as the Southeast Asian country has put the COVID-19 pandemic under control and completely reopened tourism.

Meanwhile, Israel possesses many technologies, mostly those related to agricultural production and food processing, that Vietnamese businesses need.

Or Nehushtan, a representative of the Federation of Israeli Chambers of Commerce, considered bilateral tourism potential huge, saying the potential will become even greater once the pandemic is over.

In terms of bilateral trade, he noted not many Israeli companies have learnt about what Vietnam has, and that trade potential is considerable, not only for tea and coffee - the products Vietnam has long been famous for - but also for all other commodities.

The two sides are accelerating talks on some important deals such as a free trade agreement and another on labour cooperation, and deliberating a direct air route. Israel is also increasing assistance for businesses and startups of Vietnam.

In 2021, bilateral trade still grew despite COVID-19 impacts, turning Vietnam into the largest trading partner of Israel in Southeast Asia.