CT Group has opened a representative office in Tel Aviv, Israel as the Vietnamese conglomerate lends priority to developing hi-tech sectors.
The Ho Chi Minh City-based corporation is in pursuit of innovations in its strategy, CT chairman Tran Kim Chung said at the office launch Sunday.
Noting that his corporation is the first Vietnamese firm to establish a representative office in Israel, he said the Middle East country is a very promising market with lots of potential in innovation and high tech sectors.
To start, the Vietnamese private group signed a memorandum of understanding with Falcon Technologies to boost hi-tech adoption in its key business sectors. The Israeli firm specializes in design, management, and erection of industrial control and data acquisition projects.
VGCT, a CT Group member, inked another MoU with OBCT-CD24, an Israel-based clinical-stage biopharmaceutical company, to cooperate in applying breakthrough solutions for lung disease treatments.
CT's office opening in Israel is expected to result in other Vietnamese firms’ setting up offices in the Middle East nation, said Le Thai Hoa, Vietnamese trade counsellor in Israel.
CT Group specializes in property and urban development, construction, and logistics. It is gradually expanding to hi-tech businesses like biotech, fintech, and flytech.