On the afternoon of February 19, Minister Nguyen Hong Dien had a working session with the People's Committee of Binh Dinh province on the high-tech fabric production complex project of Syre Group (Sweden).
On the afternoon of February 19, the Ministry of Industry and Trade had a working session with the People's Committee of Binh Dinh province on the high-tech textile production complex project of Syre Group. Minister of Industry and Trade Nguyen Hong Dien chaired the meeting.
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| On the afternoon of February 19, Minister of Industry and Trade Nguyen Hong Dien had a working session with the People's Committee of Binh Dinh province on the high-tech textile production complex project of Syre Group (Sweden). Photo: Can Dung |
Attending the meeting, on behalf of the Ministry of Industry and Trade, there were Deputy Minister Truong Thanh Hoai; Mr. Pham Nguyen Hung, Director of the Department of Industry; Ms. Trinh Thi Thu Hien, Deputy Director of the Department of Import and Export; Mr. Nguyen Viet San, Deputy Director of the Department of Europe - America Market; Mr. Bui Quoc Hung, Deputy Director of the Department of Electricity and Renewable Energy; Ms. Do Phuong Dung, Deputy Director of the Department of Industrial Safety Techniques and Environment; Leaders of the Electricity Regulatory Authority...
On the side of Binh Dinh Provincial People's Committee, there were Mr. Pham Anh Tuan, Chairman of Binh Dinh Provincial People's Committee; Mr. Le Hoang Nghi, Director of the Department of Planning and Investment; Mr. Tran Phuc Kham, Deputy Director of the Department of Industry and Trade...
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| Minister of Industry and Trade Nguyen Hong Dien. Photo: Can Dung |
On the side of the Swedish Embassy, there were Mr. Johan Ndisi, Ambassador of Sweden; Mr. Oscar Edström, Head of Economic Section of the Swedish Embassy.
On the Syre Group side, there were Mr. Tim King, Senior Operations Director of Syre Group (Project Director); Ms. Stina Billinger, Senior Director of Sustainable Development & Public Affairs of the Group; Ms. Nicolina Kindblom, General Counsel of the Group; Mr. Jatinder Singh, Operations Director of Asia region; Mr. Nguyen Thanh Long, General Director of Houselink; Mr. Huynh Ngoc Dong, member of the Board of Directors, Senior Advisor of Houselink; Ms. Nguyen Huong Tra, Head of Houselink Consulting Department and interpreter of the delegation.
Syre Group was founded in 2023 by Vargas Holding, a global investor, and Swedish retailer H&M Group. Syre Group aims to transform the value chain from a linear to a circular system by using textile waste to create high-quality circular polyester products.
Syre Group's investment projects in Binh Dinh are specifically: High-tech polyester fabric recycling production complex with total investment: 700 million to 1 billion USD. Expected to be operational by the end of 2027.
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| Representatives of Binh Dinh Provincial People's Committee, Swedish Embassy and Syre Group. Photo: Can Dung |
The project aims to establish Vietnam as the first global hub for the circular textile industry, applying high technology according to US and EU standards, oriented towards development according to the Net Zero model. Thereby, making Vietnam a leading country in developing a circular textile economy.
Accordingly, Syre Group's project is of great significance in making Vietnam a global circular textile industry center, creating many jobs and contributing to the green economy.
Previously, in Decision No. 1643/QD-TTg dated December 29, 2022 of the Prime Minister approving the Strategy for the development of the Textile, Garment and Footwear industry in Vietnam to 2030, with a vision to 2035, specific directions were given: Promoting investment in the production of raw materials, accessories, and supporting industries for the Textile, Garment and Footwear industry; focusing on the production of fabrics, synthetic fabrics, and leather; encouraging the production of fabrics from domestically produced fibers to reduce imports, positively impacting the linkages, forming a complete value chain and supply in the Textile, Garment and Footwear industry, meeting the requirements on the rules of origin of new-generation free trade agreements as well as promoting the localization process, improving and rapidly reducing the gap in level and productivity with countries with more developed economies.
Build a number of specialized industrial parks, large specialized complexes for Textile, Garment, Leather and Footwear (including fiber chains, dyeing, fabric finishing; tanning); prioritize projects with large capacity from reputable investors, using advanced, modern technology, with synchronous, closed production processes and ensuring compliance with environmental regulations.
Orientation to attract investment in the Northern region (Nam Dinh, Hung Yen, Thai Binh provinces,...); the Central region (Thanh Hoa, Nghe An, Thua Thien Hue, Quang Ngai, Binh Dinh,...) and the South (Binh Phuoc, Tay Ninh, Long An...).
| Syre Group was founded in 2023 and is aiming to transform the value chain from a linear to a circular system by using textile waste to create high-quality circular polyester products. |
Source: https://congthuong.vn/bo-cong-thuong-lam-viec-voi-ubnd-tinh-binh-dinh-ve-du-an-to-hop-san-xuat-vai-voc-cong-nghe-cao-374594.html
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