Minister Nguyễn Văn Thắng expressed his pleasure in welcoming Minister Yoav Ben Tzur to Vietnam during the commemoration of the 135th anniversary of President Hồ Chí Minh's birth. He affirmed that Vietnam consistently values the consolidation and development of its cooperative relationship with Israel. The Minister also acknowledged the increasingly close, trustworthy, and substantive political and economic ties cultivated over the past three decades, particularly highlighting the positive strides in bilateral cooperation in recent times.

Minister Nguyễn Văn Thắng spoke at the working session

Minister Nguyễn Văn Thắng emphasized that the Vietnam-Israel Free Trade Agreement (VIFTA) has significantly enhanced bilateral trade turnover, opened numerous avenues for economic cooperation and investment, and stimulated tourism development. It has also facilitated more dynamic people-to-people exchanges. Israel currently stands as one of Vietnam's foremost partners in trade, investment, and labor within the West Asian region.

Beyond the realms of economics and finance, Minister Nguyễn Văn Thắng proposed that expanding cooperation into labor and social security sectors would establish a robust foundation for elevating bilateral relations to a more substantive and profound level. He expressed confidence that during this meeting, both sides would engage in candid exchanges, share practical experiences, and identify specific and effective directions for future collaboration.

Minister Yoav Ben Tzur extended his sincere gratitude for the warm and thoughtful reception from the Vietnamese Ministry of Finance. He conveyed his respect for Vietnam's history, its people, and its remarkable socio-economic achievements in recent years. Minister Ben Tzur affirmed that Israel always places great importance on its friendly and cooperative relationship with Vietnam.

He committed to intensifying joint projects in research and innovation, developing a startup ecosystem, and transferring agricultural technologies. Additionally, he expressed Israel's willingness to receive more Vietnamese students, thereby contributing to sustainable development and enhancing the competitiveness of both nations. He also anticipated the initiation of new cooperative programs between Israel and Vietnam, particularly in the realms of social security.

During the meeting, Minister Nguyễn Văn Thắng provided insights into Vietnam's social security policies. He noted that the Vietnam Social Security (VSS) is a public non-business entity under the Ministry of Finance, responsible for implementing social insurance (SI), health insurance (HI), and unemployment insurance (UI) policies, as well as managing the corresponding three state financial funds outside the state budget.

Israeli Minister of Labor Yoav Ben Tzur spoke at the working session

Over the past 30 years, VSS system has achieved significant milestones, with the number of participants in these policies increasing annually. The three funds—SI, HI, and UI—are managed uniformly and invested primarily in safe instruments such as government bonds and deposits at state-owned commercial banks. Investment activities are carried out based on principles of prudence, sustainability, and efficiency, with the aim of optimizing investment methods, supporting the government's macroeconomic management, mobilizing capital resources, and contributing to socio-economic development.

Both sides shared information related to social security policies

In the coming time, Vietnam aims to build a professional and modern social security system, promote digital transformation, and integrate social security data with the national population database to enhance service efficiency for citizens. Therefore, Minister Nguyễn Văn Thắng proposed that both sides strengthen the sharing of experiences in developing and improving social insurance policies, especially for the aging population group; and coordinate efforts to promote digital transformation and the application of technology in social security management.

In the context of the strong development of Vietnam–Israel bilateral relations, Minister Nguyễn Văn Thắng expressed his belief that expanding cooperation into the field of social security will help solidify the foundation for comprehensive cooperation between the two countries. The Minister affirmed that the specialized agencies under the Ministry of Finance and the VSS system are always ready to cooperate with the Israeli side to continue technical exchanges, best practice sharing, and gradually implement specific and effective cooperation models aimed at ensuring sustainable social security in both nations.

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