Vietnamese CT Group opened its representative office in Israel to promote cooperation with the high-tech and innovation market of the host country.

The opening ceremony sees two memoranda of understanding signed between C.T Group and Israeli groups. Photo: TTXVN

Speaking at the opening ceremony, Tran Kim Chung, Chairman of CT Group, said the establishment of the representative office in Israel is very important, affirming the group's strategy to innovate its business investment model, giving priority to the development of high-tech industries to catch up with the fast growth of the scientific and technological revolution in the world.

The event also witnessed the signing ceremony of two memoranda of understanding (MOU) between VGCT, a member of CT Group, and OBCT-CD24, an Israeli company specializing in scientific solutions for the treatment of lung disease, and between CT Group and Falcon on the application of new technology in construction.

Le Thai Hoa, Vietnamese Trade Counselor in Israel, told Vietnam News Agency  that the economic and trade cooperation relationship between Vietnam and Israel is on the rise. The two sides are actively negotiating a bilateral free trade agreement, in order to create a more favorable legal framework for business, investment and service cooperation activities.

He expected CT Group’s pioneering role in opening a representative office in Israel will create an impetus for more Vietnamese businesses to continue to establish a direct presence in the Israeli market in order to seek new cooperation opportunities and make an important contribution to promoting economic, trade, investment and technological cooperation between Vietnam and Israel.

The group is a multi-industry investment and business conglomerate with 50 member units operating in the fields of construction and urban development.

In recent years, it has invested in many high-tech industries such as biology (biotech), finance (fintech), and flytech.