Binh Dinh Province collaborated with the Embassy of the Kingdom of Sweden to host the signing ceremony and the working session with the Swedish Corporation.
During the ceremony, Dennis Nobelius, CEO of Syre Group, stated that the polyester fabric recycling complex project is one of the world’s leading initiatives for promoting green and circular development. Vietnam is the group's first destination globally in the development of textile fiber recycling.
Vietnam possesses a dynamic economy and a very well-developed textile industry.
Textile waste has mostly been buried so far, so this project promises not only to promote the circular and green economy in Vietnam, but also to have global significance, said Mr. Dennis Nobelius.
According to Mrs. Susanna Campbell, Chairwoman of Syre Group, the polyester fabric recycling complex project will apply the most advanced technology, which the group acquired from a tech company in the United States, meeting U.S. and EU standards.
The project covers an area of approximately 20 hectares, which is set to begin operation in 2028, with a capacity of 250,000 tons per year, and the target of making Vietnam become the world's first global center for circular textiles and advancing the Net Zero emissions program.
Secretary of Binh Dinh Provincial Party Committee Ho Quoc Dung took the event to disclose the province's development potential. The province is currently building the Quy Hoa science and education urban area in Quy Nhon City, where nearly 20 Nobel Prize-winning scientists arrived.
The polyester fabric recycling complex project is well-aligned with the province's green development strategy.
Chairman of Binh Dinh Provincial People's Committee Pham Anh Tuan stated that the province is accelerating the training of high-quality human resources to support key projects. He urged the investor to uphold their commitment to green development, transforming the project into a symbol of green, circular transformation in the textile industry.
Swedish Ambassador to Vietnam Johan Ndisi affirmed that the diplomatic relationship between the two countries is tightened. Sweden had previously supported Vietnam in its post-war reconstruction. Currently, about 70 Swedish companies are investing in Vietnam, with a total capital of more than US$3 billion.
