The signing ceremony is witnessed by Head of Vietnam Economic and Culture Office in Taipei; leaders of Petrovietnam, Vietnam Textile and Apparel Association, Vietnam National Textile and Garment Group; representatives of VNPOLY’s stakeholders; representatives of Petrovietnam’s subsidiaries and the signatories. 

VNPOLY signs agreement on DTY production cooperation with SSFC

Recently, VNPOLY has received positive feedbacks, following the program of seeking and expanding cooperation with capable and experienced partners to participate in business and production cooperation. Through exchange, direct contact and work, up to now, VNPOLY has chosen a partner with many experiences in this field, i.e. Shinkong Synthetic Fibers Corporation (SSFC).

SSFC is a member unit of Shinkong Group - a leading multidisciplinary group of Taiwan with the main fields of activities including the services of  fiber production, weaving, fashion apparel and energy; consumer goods and retail business; investment, insurance, finance, banking. In particular, SSFC focuses mainly on the field of plastic, fiber and has more than 50 years history of development. 

Not only having much experience in producing and trading polyester fiber, SSFC also has strong market and financial potential. Therefore, SSFC is considered a promising partner of VNPOLY. 

According to the signed contract, SSFC provides raw materials and product consumption, VNPOLY is in charge of producing DTY as directed by the partner and processing. 

During the cooperation, SSFC will support technical experts so that VNPOLY can further improve product quality and expand the market in high quality segments. In the first phase, the two sides will operate from 10 DTY production lines, and then, according to the expected roadmap, will gradually increase until the re-operation of all DTY lines of VNPOLY. Concurrently, during the cooperation on DTY production, the two sides will exchange and discuss on the production and business cooperation of the entire Plant. 

With the cooperation for DTY production, the two sides will promote each other's strengths, utilize and effectively exploit the entire existing DTY production lines of the Plant, bring experience and progress in the field of manufacturing and trading DTY from Taiwan to Vietnam. This will greatly promote the development of the DTY industry in Vietnam; contribute to meeting the needs of Vietnam and regional markets. At the same time, it contributes to creating more motivation and conditions for VNPOLY to overcome difficulties, challenges and develop sustainably.