Minister Nguyen Hong Dien said that with the criteria set forth by Syre Group, the Ministry of Industry and Trade supports the High-tech Fabric Production Complex project.
On the afternoon of February 19, at the headquarters of the Ministry of Industry and Trade, 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).
Also attending the meeting were Deputy Minister Truong Thanh Hoai, leaders of departments and functional offices under the Ministry. On the side of Binh Dinh province, there were Mr. Pham Anh Tuan, Chairman of Binh Dinh Provincial People's Committee; Mr. Johan Ndisi, Ambassador of Sweden to Vietnam, leaders of Syre Group and some related units...
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| Minister of Industry and Trade Nguyen Hong Dien worked with the People's Committee of Binh Dinh province on the high-tech textile production complex project of Syre Group. Photo: Can Dung |
Meet environmental protection standards
Syre Group is a subsidiary of H&M Group and Vargas Technology Investments, operating mainly in the field of textile waste recycling. The focus of the business is the recycling of Polyester waste into new raw materials for the garment, automotive and furniture industries.
Currently, Syre Group has a need to invest in a high-tech fabric production complex project in Nhon Hoi A Industrial Park, Nhon Hoi Economic Zone, Binh Dinh province with a capacity of 250,000 tons/year, total investment capital of 700 million - 1 billion USD.
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| Mr. Tim King, Senior Operations Director of Syre Group, reports on the project. Photo: Can Dung |
At the meeting, Mr. Tim King - Senior Operations Director of Syre Group said that the Group wishes to invest in a polyester fiber recycling complex project in Binh Dinh province. The Group is committed to applying modern technology to the polyester fiber recycling project, meeting the world's leading standards on environmental protection and complying with Vietnam's environmental protection regulations. At the same time, the Group proposed to be supported in terms of mechanisms and policies related to the implementation of the textile waste recycling project, guidance on procedures for importing recycled materials and environmental impact assessment, and support in connecting with specialized agencies to ensure the project is implemented smoothly.
Specifically, the Group always prioritizes the collection of domestic raw materials. However, the collection of used clothing in Vietnam still does not have a clear implementation mechanism despite being increasingly interested. This causes many difficulties in purchasing, classifying and processing raw materials to meet the production standards of the project. " Therefore, we propose that the Ministry of Industry and Trade support the development of a mechanism and specific instructions on the collection, classification and processing of domestic used clothing to ensure the source of recycled materials for production " - the representative of the Syre Group proposed.
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| Representatives of Binh Dinh Provincial People's Committee, Swedish Embassy and Syre Group at the working session. Photo: Can Dung |
In response to the above proposal, the Import-Export Department (Ministry of Industry and Trade) basically supports the investment policy of SYRE Group to strengthen the development of supporting industries for the textile and garment sector within the framework and regulations of the law.
However, regarding input materials as proposed by the Company: For used clothing and fabrics (HS code 6309), these are used consumer goods, on the List of goods prohibited from export and import according to the provisions of Appendix I issued with Decree No. 69/2018/ND-CP dated May 15, 2018 of the Government detailing a number of articles of the Law on Foreign Trade Management and Appendix I issued with Circular No. 08/2023/TT-BCT dated March 31, 2023 of the Minister of Industry and Trade on amending and supplementing a number of articles regulating the detailed list according to HS codes of exported and imported goods issued with a number of Circulars of the Minister of Industry and Trade.
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| Mr. Pham Anh Tuan, Chairman of Binh Dinh Provincial People's Committee. Photo: Can Dung |
As for scrap fabric (HS code 6310), this is also waste in the production process. Imports are carried out in accordance with Decision No. 13/2023/QD-TTg dated May 22, 2023 of the Prime Minister promulgating the list of scrap materials permitted to be imported from abroad as raw materials for production. Therefore, the Import-Export Department recommends that the People's Committee of Binh Dinh province consult the Ministry of Natural Resources and Environment before synthesizing and reporting to the Prime Minister.
Speaking at the meeting, Mr. Pham Anh Tuan - Chairman of Binh Dinh Provincial People's Committee emphasized that Syre Group's project is of great significance in making Vietnam a global circular textile and garment industry center, creating many jobs and contributing to the green economy. Therefore, Binh Dinh Provincial People's Committee respectfully requests the Ministry of Industry and Trade to consider, support and provide detailed instructions and support for the procedures for importing scrap fabric from the production process according to current regulations, ensuring a stable source of raw materials for the project.
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| Deputy Minister of Industry and Trade Truong Thanh Hoai. Photo: Can Dung |
Regarding this content, Deputy Minister Truong Thanh Hoai said that the Ministry of Industry and Trade supports the project investment, the viewpoint of the Vietnamese Government is to create maximum conditions for investors to develop sustainable business. “ In principle, we support the project, but then to have a basis to report to the Government to issue a Resolution. According to regulations, a special Resolution is required for this project, after the Resolution is issued, the Ministry of Industry and Trade will amend Circular No. 08/2023 on amending and supplementing a number of articles regulating the detailed list according to HS codes of exported and imported goods. Because this is a special and pilot project, there must be a strict control mechanism for used raw materials. Accordingly, the Ministry will have a specific announcement and conclusion about today's working session " - Deputy Minister Truong Thanh Hoai stated specifically.
Ministry of Industry and Trade supports the project
After listening to the speech of the representative of Syre Group, Minister Nguyen Hong Dien affirmed that the European Union (EU), including Sweden, is an important economic and trade partner of Vietnam. Over the past years, since the two sides signed the Free Trade Agreement and the Investment Protection Agreement, the wave of investment as well as economic and trade relations has increased rapidly every year. It can be said that the EU has everything Vietnam needs and Vietnam meets everything the EU needs, including Sweden. Therefore, the two sides need to cooperate more closely to promote the economic and trade relations between the two countries to a new level, including specific proposals related to the High-tech Fabric Production Complex project.
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| Minister of Industry and Trade Nguyen Hong Dien. Photo: Can Dung |
The Minister said that Vietnam is currently considered the world's factory with an annual trade turnover increasing by 15-17%, a trade scale of nearly 800 billion USD, continuously in recent years, Vietnam ranks 18th among countries with large trade scale in the world. Vietnam's GDP growth reached 7% in 2025, expected to reach 8% in 2025 and strives to reach 10% or more in the following years based on three traditional growth drivers: investment, consumption and export.
The Minister emphasized that to achieve the set growth rate, Vietnam must both renew traditional growth drivers and promote the creation of new drivers such as: Application of science and technology for innovation, green transformation, digital transformation, circular economy and sharing economy.
According to the Minister, the proposals of Syre Group meet the traditional growth drivers and new growth drivers such as investment and green transformation, digital transformation, and circular economy, so the Ministry of Industry and Trade fully supports this project.
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| Also attending the working session of Minister Nguyen Hong Dien with the People's Committee of Binh Dinh province, on the side of the Ministry of Industry and Trade were Deputy Minister Truong Thanh Hoai and leaders of relevant units under the Ministry. Photo: Can Dung |
However, the Minister noted that the import of recycled environmental issues is the most important, so Vietnam is very interested in the technologies applied by Syre Group, in the production process and the stages of bleaching, dyeing, steaming, and finishing the product, these technologies need to ensure cleanliness, safety for the environment, and meet the requirements for wastewater and waste treatment of the project. In addition, spreading to domestic enterprises to create a closed chain from production, processing to consumption can be localized or connecting domestic enterprises to jointly implement the project's goals. In particular, the project needs to demonstrate its socio-economic efficiency for Vietnam.
“ When there are answers to the above-mentioned issues, we will find ways to resolve the difficulties and obstacles encountered in the project implementation process. If Syre Group proves the superiority of the project in terms of production technology, the ability to contribute to the socio-economic development of Vietnam as well as the ability to create a closed production chain in the country, the Ministry of Industry and Trade is ready to advise competent authorities to have specific mechanisms and policies for the project, ” Minister Nguyen Hong Dien emphasized.
| 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-ung-ho-du-an-to-hop-san-xuat-vai-cua-tap-doan-syre-374629.html
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