Israeli Shipbuilder Plans to Set up 7 Shipbuilding Yards in Vietnam

The Israeli Ray Shipping Co has planned to set up six or seven shipbuilding factories in Vietnam and hoped that Israel&rsquos advanced shipbuilding technologies will help contribute to the Vietnamese industry, the Israeli billionaire Rami Ungar told a meeting held in Hanoi recently.

 

Rami Ungar said Israeli and Vietnamese enterprises should promote cooperation in high-tech industries, ship building, sea transport, construction, property, securities, insurance and tourism.

 

The Ray Shipping Co, one of his three companies, inked a US$1 billion shipbuilding contract with the Vietnam Shipbuilding Industry Group (Vinashin) in 2006 and Vinashin is scheduled to deliver a series of car carriers in June this year.

 

The Israeli billionaire also shared his views on Vietnamese and global economies and experience in doing business at the event co-held by the Vietnam Chamber of Commerce and Industry and the Israeli Embassy.

 

Vietnam&rsquos economy which was impacted by fluctuations from the global market will overcome difficulties in the next two years, he said.

 

A representative from the Vietnam National Shipping Lines (Vinaline) said his company wanted to cooperate with the Israeli company in the seaport.

 

The Vietnamese prime minister said Vietnam will its embassy in Israel to beef up the multifaceted relations, particularly in economics, trade, investment and education.

 

The bilateral trade between Vietnam and Israel has sharply increased in recent years after the two countries signed the bilateral trade and investment agreement in 2004. The two way trade reached US$113 million in the first nine months of 2007, up 50 per cent from a year ago, the ministry said.