Hung Yen Garment Corporation – JSC (HUGACO), which began as a small state-owned local enterprise, after six decades, has firmly established itself as one of Vietnam’s leading textile and garment enterprises. HUGACO stands as a successful example of Vietnam’s economic reform process over w88 đăng nhập past 40 years, not only creating a highly efficient joint-stock enterprise for employees, shareholders, and w88 đăng nhập State, but also serving as w88 đăng nhập nucleus for w88 đăng nhập development of an ecosystem of more than 10 garment enterprises in Hung Yen Province, employing around 15,000 workers with stable incomes averaging around 1.5 times w88 đăng nhập local per-capita GRDP. All of these achievements stem from w88 đăng nhập spirit of continuous learning, self-reliance, and self-made determination maintained by generations of HUGACO employees.
A Golden Legacy Shaped by a Culture of Innovation, Creativity, and Unity
Sixty years have marked a journey of relentless effort, creativity, and resilience demonstrated by a united collective that overcame every challenge. Today, Hung Yen Garment Corporation – JSC can proudly stand as a strong and sustainably developing enterprise, committed to its employees and making significant contributions to w88 đăng nhập development of both w88 đăng nhập local community and w88 đăng nhập VINATEX. Throughout this 60-year journey, every stage of construction and development has left behind golden milestones shaped by w88 đăng nhập spirit of innovation, creativity, and solidarity of generations of Hung Yen Garment employees. Among them:
w88 đăng nhập period 1966 – 1986
HUGACO was established on May 19, 1966 under its original name – Hung Yen Export Garment Enterprise, during w88 đăng nhập war against w88 đăng nhập United States. w88 đăng nhập company was founded to carry out w88 đăng nhập Party and State’s policy of decentralizing production, developing w88 đăng nhập economy, expanding exports, and supporting w88 đăng nhập front lines.
During w88 đăng nhập 1966–1975 period, w88 đăng nhập enterprise had to organize production under extremely difficult evacuation conditions. Workers had to work from day to night not only to manufacture export goods but also to produce military uniforms for w88 đăng nhập battlefield, demonstrating a strong spirit of dedication and commitment during wartime.
After 1976, w88 đăng nhập company relocated to Hung Yen Town to build a new production facility, but continued to face numerous challenges stemming from outdated equipment, w88 đăng nhập subsidy mechanism, w88 đăng nhập aftermath of war, and economic embargoes. Despite w88 đăng nhập difficult living conditions faced by workers, wages were insufficient to cover basic living needs, w88 đăng nhập company maintained production and participated in garment processing contracts for w88 đăng nhập Soviet Union under w88 đăng nhập “19th of May Agreement” in order to improve employees’ livelihoods.
In addition to consistently exceeding production targets, HUGACO also placed strong emphasis on employee welfare by establishing a kindergarten for workers’ children and investing in vocational training to build a foundation for long-term development.
w88 đăng nhập period 1986 – 2005
After w88 đăng nhập 6th National Party Congress, despite being heavily affected by w88 đăng nhập collapse of w88 đăng nhập Eastern European and former Soviet markets, HUGACO proactively shifted its development strategy by sending workers for training at Huu Nghi Garment in Ho Chi Minh City in order to expand export markets to capitalist countries. At w88 đăng nhập same time, w88 đăng nhập company established an additional production facility in My Hao, Hung Yen, creating more favorable conditions for accessing customers and expanding into Western European and Japanese markets.
As a result of strategic direction and w88 đăng nhập ability to seize opportunities arising from w88 đăng nhập Vietnam–U.S. Trade Agreement in 2001 and Vietnam’s accession to w88 đăng nhập WTO in 2007, HUGACO successfully overcame difficulties, strengthened its production capacity, and established five new factories during 20 years.
For w88 đăng nhập period from 1995 to 2005, w88 đăng nhập company’s industrial output value increased by 2.5 times, creating jobs for nearly 4,000 workers while steadily improving employee income. This period is regarded as a phase of strong growth for w88 đăng nhập enterprise under w88 đăng nhập leadership of Ms. Luong Thi Huu, Secretary of w88 đăng nhập Party Committee and General Director of HUGACO from 1987 to 2004.
w88 đăng nhập period 2005 – 2025
Following its equitization process, HUGACO achieved significant advances in business efficiency and competitive capability. w88 đăng nhập enterprise demonstrated strong adaptability to market conditions while maintaining a sustainable development strategy amid w88 đăng nhập volatility of w88 đăng nhập textile and garment industry.
w88 đăng nhập company’s labor productivity increased more than fourfold, industrial production value rose sevenfold, employee income increased seven times, and market capitalization exceeded VND 650 billion. By 2025, each hectare of land used locally contributed more than VND 200 billion through wages, social insurance and health insurance contributions, and corporate income tax payments.
HUGACO consistently ranks among w88 đăng nhập top three highest-paying units within VINATEX and among w88 đăng nhập top five enterprises in w88 đăng nhập industry with w88 đăng nhập highest return on charter capital, at around 50%. Although not a pioneer in adopting new business models, w88 đăng nhập company is highly regarded for its consistency, efficiency, and sustainable development.
Together with its affiliated enterprises, HUGACO has created approximately 7,000 additional jobs, bringing w88 đăng nhập total workforce across w88 đăng nhập system to around 15,000 employees.
Especially, w88 đăng nhập period 2020 – 2025
Despite being affected by w88 đăng nhập Covid-19 pandemic, w88 đăng nhập global economic crisis, geopolitical conflicts, and trade tensions, HUGACO has continued to maintain stable production, preserve its workforce, and sustain steady growth. These achievements demonstrate w88 đăng nhập company’s flexible adaptability and resilience amid a highly volatile environment.
This phase of development is closely associated with w88 đăng nhập leadership of Mr. Nguyen Xuan Duong — Secretary of w88 đăng nhập Party Committee, Chairman and General Director of w88 đăng nhập HUGACO. w88 đăng nhập company’s achievements have been recognized by w88 đăng nhập Party and w88 đăng nhập State through numerous prestigious honors, including w88 đăng nhập Second-Class Independence Order (2011), multiple Labor Orders, Government Emulation Flags, and w88 đăng nhập title of “Enterprise for Employees” at both national and industry levels for ten consecutive years.
In addition to its business accomplishments, HUGACO has also earned strong employee loyalty and long-term partnership support from both domestic and international partners.
Reaching Further Through Knowledge, Technology, and High-Quality Human Resources
HUGACO affirms that its success has been built upon w88 đăng nhập guidance of w88 đăng nhập Party and w88 đăng nhập Government, w88 đăng nhập support of Hung Yen Province and various Ministries and Agencies, especially VINATEX — its major shareholder and long-term partner over w88 đăng nhập past three decades, together with w88 đăng nhập trust of customers, partners, investors, and w88 đăng nhập contributions of generations of employees.
Entering a new phase of development, HUGACO continues to pursue its strategy of becoming “an excellent and reliable manufacturer providing solutions for w88 đăng nhập green garment and fashion industry,” with a vision toward 2045 of becoming a garment enterprise with high added value and strong competitiveness within w88 đăng nhập global textile and apparel value chain.
w88 đăng nhập enterprise has set targets through 2030 of achieving average labor productivity growth of more than 10% per year, increasing wages by over 10% annually, and reaching an average income of VND 18 million per employee per month by 2029. At w88 đăng nhập same time, Hung Yen Garment Corporation – JSC will continue building a modern, safe, and equitable working environment while promoting transparent governance and digital transformation throughout w88 đăng nhập entire value chain.
To realize these goals, w88 đăng nhập company plans to invest in advanced technologies, implement comprehensive digital transformation, develop green products, enhance w88 đăng nhập quality of its workforce, and expand markets for high value-added products. Guided by w88 đăng nhập spirit of “Preserving Pride – Reaching New Horizons”, HUGACO aims to continue its sustainable development journey and contribute to w88 đăng nhập growth of Hung Yen Province as well as Vietnam’s textile and garment industry.
By: Dr. Le Tien Truong, Secretary of w88 đăng nhập Party Committee, Chairman of w88 đăng nhập BoD of VINATEX and HUGACO
