Want to be in the loop?
subscribe to
our notification
Business News
VIETNAM, ROK STRENGTHEN TEXTILE COOPERATION
Seoul – The Vietnam Textile and Apparel Association (VITAS) and the Korea Federation of Textile Industries (KOFOTI) have signed a memorandum of understanding (MoU) to strengthen bilateral cooperation, KOFOTI announced on August 24.
The signing ceremony took place within the framework of the textile exhibition “Preview in Seoul 2023” held in Seoul from August 23-25.
Speaking at the ceremony, KOFOTI chairman Choi Byung-oh said that RoK and Vietnam have been reliable partners in textile production, processing, and export for the past 30 years.
With the MoU signing, the Korean side hopes that the strategic partnership in the textile and fashion industries of the two countries will be strengthened, especially on issues of sustainable development, digital transformation, and supply chains.
A KOFOTI official also said Vietnam's high economic growth rate and young people's interest in the Korean culture are constantly increasing, adding the MoU is expected to help Korean businesses penetrate deeply into the Vietnamese market.
VITAS President Vu Duc Giang also said that VITAS and KOFOIT will expand the exchanges of information and innovation technology, promote cooperation to take advantage of the free trade agreements, and attract investment.
Source: VIR
Related News

THREE IMPORTANT FINANCIAL POLICIES TO TAKE EFFECT IN MAY
From May 18, foreign investors can only buy treasury shares if the shares were purchased by Vietnamese credit institutions before January 1,…

MANUFACTURING FIRMS OPTIMISTIC ABOUT Q2 BUSINESS OUTLOOK
Nearly 46% of manufacturing and processing firms expect better business conditions in the second quarter of the year, according to a surv…

CONSTRUCTION OF NORTH-SOUTH HIGH-SPEED RAILWAY TO START IN 2026: PM
Prime Minister Pham Minh Chinh has emphasised the need for bold and accelerated action to develop the railway industry, serving Vietnam’s…

THE REVERIE SAIGON LAUNCHES A SPECTACULAR EVENT SERIES: FOUR ELEMENTS ANCESTRAL O…
Embark on a remarkable journey of culinary exploration with The Reverie Saigon's ‘Four Elements Ancestral Odyssey: A Culinary Journey…

VEHICLES NOW ALLOWED ON 30KM OF BEN LUC–LONG THANH EXPY
The Vietnam Expressway Corporation (VEC) has announced the official opening of two sections of the Ben Luc–Long Thanh expressway to traffic f…

VIETNAM EXPANDS AGRICULTURAL EXPORTS TO CHINA
To date, 16 types of Vietnamese fruits and vegetables have been exported to China via official channels, including 10 items with signed…

THREE IMPORTANT FINANCIAL POLICIES TO TAKE EFFECT IN MAY
From May 18, foreign investors can only buy treasury shares if the shares were purchased by Vietnamese credit institutions before January 1,…

MANUFACTURING FIRMS OPTIMISTIC ABOUT Q2 BUSINESS OUTLOOK
Nearly 46% of manufacturing and processing firms expect better business conditions in the second quarter of the year, according to a surv…

CONSTRUCTION OF NORTH-SOUTH HIGH-SPEED RAILWAY TO START IN 2026: PM
Prime Minister Pham Minh Chinh has emphasised the need for bold and accelerated action to develop the railway industry, serving Vietnam’s…

THE REVERIE SAIGON LAUNCHES A SPECTACULAR EVENT SERIES: FOUR ELEMENTS ANCESTRAL O…
Embark on a remarkable journey of culinary exploration with The Reverie Saigon's ‘Four Elements Ancestral Odyssey: A Culinary Journey…

VEHICLES NOW ALLOWED ON 30KM OF BEN LUC–LONG THANH EXPY
The Vietnam Expressway Corporation (VEC) has announced the official opening of two sections of the Ben Luc–Long Thanh expressway to traffic f…

VIETNAM EXPANDS AGRICULTURAL EXPORTS TO CHINA
To date, 16 types of Vietnamese fruits and vegetables have been exported to China via official channels, including 10 items with signed…