VN, HK garment companies ink co-operation contract

The Duc Giang Corporation (Dugarco), one of Viet Nam's leading garment enterprises, has signed a contract with Hong Kong (China)'s largest listed garment firm, Luen Thai Holdings.

The move is part of efforts made by Dugarco to integrate more deeply into the world garment market, especially with a raft of advantageous free trade agreements expected to be ratified soon.

According to the President of Dugarco's board of directors, Hoang Ve Dung, under the contract Luen Thai will buy 51 per cent of the shares of the Duc Hanh Garment Joint Stock Company, one of Dugarco's subsidiaries.

He expressed the hope that by sharing market, technology and administrative experiences with Hong Kong's leading garment firm, the company's revenue and profits would jump five-fold.

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