With a total investment of 1 billion USD, the polyester fabric recycling production complex project of SYRE Group in Binh Dinh is expected to become a symbol of cooperation between Vietnam and Sweden in the field of circular textiles, while making Vietnam the first global center for the production of recycled polyester using high technology according to US and EU standards.
The project is deployed on an area of 20 hectares, expected to be operational from 2028, with a designed capacity of 250,000 tons/year.
"Do what you say, do what you promise!"
At the ceremony, Binh Dinh Provincial Party Secretary Ho Quoc Dung said that after a working session with the leaders of SYRE Group, Prime Minister Pham Minh Chinh directed the province to quickly implement the project, creating the best conditions for the Group to "join hands" to invest.
Mr. Dung affirmed that Binh Dinh is currently a dynamic province, with sufficient conditions for developing industry, tourism - services and agriculture, with a system of well-invested industrial parks, clean land and an open investment environment.
"In the past, the province has been very active in attracting investment, with a selective viewpoint. The Chairman and I have said and done, and promised to fulfill our commitment when investors come to the province," Mr. Dung emphasized.
Mr. Dung shared that the polyester fabric recycling production complex project in Binh Dinh is highly appreciated by the Prime Minister and ministries and branches.
"With the prestige, experience and pioneering mission of the Group and the commitment of the Chairwoman of SYRE Group to the Prime Minister, I believe the project will be successfully implemented, becoming a symbol of cooperation between the two countries," said Mr. Dung.
Investors want to receive special mechanisms
Ms. Susanna Campbell - Chairman of SYRE Group - said that green and circular development is a new orientation and is aimed at by most businesses in the world.
"I believe that this is an orientation that will help Vietnam affirm its position in the process of developing a circular economy towards green transformation," said Ms. Susanna Campbell and hoped to have a sustainable and long-term relationship with Binh Dinh, after today's signing ceremony.
Mr. Dennis Nobelius - General Director of SYRE Group - said that the Group is orienting to develop the world's first large-scale polyester recycling factory project. After a thorough research process, the Group decided to choose Vietnam as the first investment destination and Binh Dinh as the project implementation location.
"The reason we chose Vietnam is because it is a country with a dynamic economy and a strong textile and garment industry," said Mr. Dennis Nobelius.
The General Director of SYRE Group said that the Group has researched more than 20 types of technology and is applying the most advanced type for the textile and garment recycling industry.
"We hope to receive a special mechanism to facilitate the import of input materials for the project during the production process. And I hope to have an import license in the next 6 months, as well as to choose the most suitable industrial park location for the project," said Mr. Dennis Nobelius.
Urgently implement the project
At the ceremony, Chairman of Binh Dinh Provincial People's Committee Pham Anh Tuan emphasized the province's "dedicated" support for investment projects towards sustainable development, circular, green, application of high technology and environmental protection.
"We suggest that SYRE Group comply with the Prime Minister's instructions, which are circular economy, green economy, environmental protection and maximum use of domestic scrap for recycling in each stage," Mr. Tuan suggested.
The Chairman of Binh Dinh Provincial People's Committee hopes that the Group will fulfill its commitment - this is a symbolic project of green and circular transformation for the textile and garment industry.
"In the previous phase, we did it with a spirit of speed and agility. At this stage, I hope the project will be implemented even faster," Mr. Tuan hopes.
Mr. Tuan said that to solve the difficult problem of legal procedures, it is mandatory for the Group to complete the project early, in which it specifically demonstrates issues such as circular economy, green transformation, high-tech application and environmental protection.
"After today's signing ceremony, I hope we will have a detailed roadmap, each work and completion time, to quickly report to the Government and ministries to resolve issues related to legal regulations," Mr. Tuan suggested.
