Vietnam, Israel Sign US$150Mln Financial Protocol

Vietnam and Israel reached a US$150 million financial protocol to provide credit insurance for the two countries’ businesses in high-tech exports and transfer in Hanoi on Aug 14.

 

Under the protocol, the governments of Vietnam and Israel will ensure credits that will be valued at most US$150 million and may be raised.

 

Israeli companies will be provided with exports insurance of high-tech products and transfer to small and medium enterprises of Vietnam with preferential interest rates.

 

Projects using preferential credits will have 8-10 year terms. Loan recovery is within six months.

 

Vietnam is now trying to attract investors from developed countries with advanced high-tech particularly from Japan and the U.S.

 

Vietnam Prime Minister Nguyen Tan Dung pledged more favorable conditions for Japanese investors in the field of high-tech in early 2007 during the meeting with Minister of Internal Affairs and Communications Yoshihide Suga of Japan in Hanoi, urging for Japanese investment. (Vneconomy)