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VN becomes attractive destination for enterprises from Israel, Hong Kong

VGP - More than 70% of businesses from Hong Kong (China) have regarded Viet Nam as the first destination in the Southeast Asian region to open factories, according to a recent survey by Hong Kong Productivity Council (HKPC).

November 06, 2019 4:47 PM GMT+7

35 Israeli companies seek for business and investment opportunities in Viet Nam during a seminar organized in Tel Aviv on November 5, 2019 - Photo: VNA

As the U.S.-China trade conflict rises, more enterprises from Hong Kong intend to open factories in ASEAN. Their first consideration when choosing places to put their production lines or factories is political stability, followed by tax incentives and operation costs.

According to the survey, most Hong Kong firms plan to produce electronic products, garment-textile and toys in Viet Nam.

Otherwise, 35 Israeli companies, operating in manufacturers, investors and importers of various products, ranging from foods, consumer goods, to clothing, electronics, furniture and construction materials, sought for business and investment opportunities in Viet Nam during a seminar organized in Tel Aviv on November 5.

Representatives of some Israeli companies said they wish to learn about Viet Nam’s investment incentives and how the Vietnamese government will assist Israeli companies in seeking and getting in touch with Vietnamese manufacturers of products they want to import.

In the first nine months of 2019, the Viet Nam – Israel trade exceeded US$790 million, of which Viet Nam enjoyed a trade surplus of US$410 million.

Viet Nam’s exports to Israel are likely to hit over US$800 million this year while imports from Israel are estimated at about US$260 million.

By Thuy Dung