According to a report on the Voice of Vietnam website on February 4: Recently, Vietnam Textile Group and Japan’s Itochu Textile Group signed a business cooperation framework agreement. The two parties will expand cooperation in the textile and dyeing section and raw and auxiliary material management projects in Vietnam; strengthen training cooperation in the textile and dyeing field in Vietnam; and make full use of Vietnam Textile Group’s channels in central Vietnam.
Makoto Onohara, general manager of Japan’s Itochu Textile Group, said that Vietnam is an important country investing in textiles in Asia, especially since it is about to sign the TPP agreement and other free trade agreements. Itochu Textile Group is both a shareholder and a partner of Vietnam Textile Group. In the future, the two parties will carry out cooperation between their affiliated companies. The cooperative project is expected to create a total operating income of US$60 million and tens of thousands of jobs in the next five years. Vietnam Textile Group hopes that by cooperating with Japan’s Itochu Textile Group, it will be able to expand the market, invest in advanced technology, and especially break through the “bottleneck” of improving Vietnam’s textile and dyeing process and successfully building a comprehensive supply chain.
