Vietnam Petrochemical and Fiber Joint Stock Company (VNPOLY) and Shinkong Synthetic Fibers Corporation (SSFC) from Taiwan agreed to work together to produce Drawn Textured Yarn (DTY) in Viet Nam via a co-operation agreement inked between the two companies in Ha Noi on Monday.

Under the agreement, SSFC will be in charge of providing raw materials and selling products, while VNPOLY will undertake yarn production.

The Taiwanese company will also provide VNPOLY with technical assistance so the Vietnamese firm can improve product quality and facilitate high-end market expansion.

Initially, the two sides will run at least 10 DTY production lines at VNPOLY and will gradually operate all DTY lines in the future. — VNS