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
MEMBER CORNER / PROMOTIONS
CHW30200 LUGGAGE – THE IDEAL TRAVEL COMPANION FOR MODERN JOURNEYS
• Compact & practical design – easy to carry on any trip• Optimized storage space – keep your belongings organized and efficient• Durable construction – enhanced protection for your essentials on the go
MEMBER CORNER / PROMOTIONS
OKTOBERFEST VIETNAM 2026 RETURNS @ WINDSOR PLAZA HOTEL
Save up to 25% until 31 August 2026! For 30+ Tickets, contact Hotline for exclusive offers. From 23 - 26 September 2026, don't miss your chance to immerse yourself in the vibrant atmosphere of Oktoberfest Vietnam - one of Saigon's most anticipated celebration of German culture, cuisine and music. Inbox us to secure your ticket or contact.
MEMBER CORNER / PROMOTIONS
THE REVERIE SAIGON’S MOONCAKE COLLECTION 2026 - THE MOONLIT BLOSSOMS
Inspired by the autumn full moon, blooming Osmanthus, and vibrant Peonies, The Reverie Saigon presents The Moonlit Blossoms collection, featuring three exquisite masterpieces that celebrate harmony, prosperity, and the joy of reunion. Discover more & Place your order: https://www.thereveriesaigondining.com/mooncake-collection-2026
BANKING / FINANCE / INSURANCE / TAX
GOV’T PROPOSES REDUCING INCOME TAX BY 30% FOR BUSINESS WITH REVENUE OF VND10 BLN
The Government is preparing to submit to the National Assembly a proposal to reduce income tax by 30 percent in the 2026–2027 period for business households, individuals, and enterprises with annual revenue up to VND 10 billion (US$381,621). The Government also proposes a 30 percent reduction in personal income tax for micro-enterprises with annual revenues of up to VND 10 billion in 2026 and 2027.
TECHNOLOGY
HÀ NỘI SEEKS NEW GENERATION OF FDI TO POWER TECH, INNOVATION-LED GROWTH
After more than three decades as one of Việt Nam's leading destinations for foreign investment, Hà Nội is entering a new phase, shifting its focus from attracting capital in volume to drawing technology-intensive investment that can help transform the capital into a regional hub for research, innovation and high-tech industries.
BANKING / FINANCE / INSURANCE / TAX
BANK COUPON RATE HITS RECORD HIGH OF 10% PER YEAR
Amid surging demand for capital, commercial banks have been ramping up bond issuance, with rates reaching a record high of 10 per cent per year. Sacombank has recently announced the completion of three private bond placements in July, raising a total of VNĐ3.65 trillion (US$139 million) to raise medium- and long-term capital, strengthen financial capacity, enhance risk resilience and meet regulatory capital requirements.
Events Sponsors
