HIEP AN JOINT STOCK COMAPNY , established by Light Industry Ministry on 1987 , is a member of The Union of Leather and Shoe Factories , produce shoe uppers for exporting to Russia according to the 19/5 Agreement signed by both Vietnam and Russian governments . In the first date of establishment under the name of Hiep An Shoe Factory , they have main office and first factory located at 311-319 Gia Phu ,District 6 ,HoChiMinh City and the second factory located at 42K7 Huong Lo 14 , Tan Binh District ,HoChiMinh City . Basing on these facilities , Light Industry Ministry of VietNam ordered them to produce 300,000 Prs. of Shoe uppers on 1987-and 800,000 Prs. for 1988-1989 . And the most important order is expanding factories to achieve 1,000,000 Prs. of Shoe uppers per year from 1990 . Unfortunately , on 1990 there is very very big events happened in Russia to wipe out all vestiges of Communist regime and the  production program of shoe uppers supplied to Russia has been cancelled too . To continue company operation , Hiep An Shoe Factory contacted to a Korean Company who specialized in bag production for a processing contract of bag production from 1990-1992 . On 1992 Hiep An contact to a Korean Slipper Company to change the above second factory into slipper factory under processing contract with this Korea Company .On 1992 Hiep An Shoe  Factory has been chosen to be a volunteer in the Program of Privatization of State Owned Companies and 1994 they officially changed into HIEP AN JOINT STOCK COMPANY with 30%  of their capital holding by government . Under the operation of a Joint Stock Company , the pressing of the share-holders for share profit yearly increasing day by day , of which the production under processing contracts could not satisfy . So  The Board of Management has decided to change their production from 100% of Processing contract to  direct FOB shipment as much as possible and then step by step Hiep An Joint Stock Company became a leader of Slipper Manufacturer in VietNam from 1994 with its capacity of over 2,000,000 Prs./year and terminate definitely all  processing contracts on 1997 .