Citing unnamed sources, Ynetnews.com reported Monday that Israeli Foreign Ministry Director General Aharon Abramovich was told of Vietnam's plans while visiting the Southeast Asian country last week to discuss expanding trade between the two countries, which currently stands at $200 million per year.

Israeli officials say the Vietnamese capital of Hanoi has seen the expansion of high-tech industries thanks to better education and cheap manpower, while the country's food, textile and tourism industries are also seeing growth.

Israel has been wooing Vietnam for years, observers say, but because of what has been called "a cautious approach" by Vietnamese authorities, the relations until now haven't progressed beyond an Israeli Embassy in Hanoi, the Web site reported.