HCMC – Syre Group, a Sweden-based textile impact company, is seeking to develop a high-tech fabric manufacturing complex in Binh Dinh Province, with a total investment ranging from US$700 million to US$1 billion.
Minister of Industry and Trade Nguyen Hong Dien recently held a meeting with the Binh Dinh People’s Committee regarding the high-tech fabric manufacturing complex project by the Syre Group.
At the meeting, Syre Group’s senior operations director Tim King said that the firm wants to establish a recycling facility in Nhon Hoi A Industrial Park in the Nhon Hoi Economic Zone, with a capacity of 250,000 tons per year.
Kim affirmed that the firm is committed to applying modern technology in its polyester fiber recycling production project, meeting the world’s highest environmental protection standards and complying with Vietnam’s environmental regulations.
He proposed to the leadership of the Ministry of Industry and Trade for support on mechanisms and policies related to implementing the textile waste recycling project.
Additionally, he requested guidance on procedures for importing recycled materials, conducting environmental impact assessments, and facilitating connections with relevant agencies to ensure a smooth project implementation.
In response to the proposal, the Import-Export Department under the Ministry of Industry and Trade strongly supports Syre Group’s investment initiative.
The Binh Dinh People’s Committee requested the Ministry of Industry and Trade to review, support, and provide detailed guidance on procedures for importing fabric scrap from the production process in accordance with current regulations, ensuring a stable supply of raw materials for the project.
