Vector Control in Induction Motors
Only in a very nonstandard sense.  Vector control of an induction motor pertains to the power (possibly the instantaneous power) going to the motor.  Yes, it's may be good in some cases if this power is, for the most part, real.

However, to most engineers "power factor correction" will mean the ratio of real to reactive (or harmonic) power at the point of connection to the power grid -- and that's not where vector control happens.