Binh Dinh signed a Memorandum of Understanding on cooperation with Syre Group (Sweden)

(binhdinh.gov.vn) - On the morning of April 25, at the Provincial People's Committee Headquarters, the Binh Dinh Provincial People's Committee held a signing ceremony of the Memorandum of Understanding on investment cooperation with Syre Group (Sweden) on the Polyester Fabric Recycling Complex Project, marking an important step forward in promoting a green and circular economy. Attending the signing ceremony, on the side of Binh Dinh province were comrade Ho Quoc Dung, member of the Party Central Committee, Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council, and comrade Pham Anh Tuan, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee, chairing the ceremony. On the side of the Kingdom of Sweden, there were Ambassador Johan Ndisi, Ms. Erika Staffas Edström, Head of the Political Department, Embassy of Sweden in Vietnam. Representatives of Syre Group included Ms. Susanna Campbell, Group Chairwoman, Mr. Dennis Nobelius, Group General Director, Ms. Stina Billinger, Director of Sustainable Development and External Relations, and consulting partners from Houselink Joint Stock Company.

Báo Bình Định•25/04/2025

Signing ceremony scene

Syre Group is a pioneer in textile fiber recycling using a fabric-to-fabric model, aiming to reduce carbon emissions and textile waste through large-scale recycling.

The Polyester Fabric Recycling Complex Project in Binh Dinh, with an expected capacity of 250,000 tons/year and a total investment of 1 billion USD, is expected to be operational by the end of 2028. This project is part of Syre's strategy to build a global Gigascale recycling plant chain. The project applies advanced technology according to US and EU standards, producing recycled polyester with quality equivalent to virgin polyester, superior in sustainability, creating hundreds of high-quality jobs and completing a closed cycle from textile waste to recycled polyester fibers.

Provincial Party Secretary Ho Quoc Dung speaks at the signing ceremony

Speaking at the signing ceremony, Provincial Party Secretary Ho Quoc Dung expressed his joy at welcoming the Swedish delegation, emphasizing that the event was the result of effective working, especially after the meeting with the Prime Minister on April 23, 2025.

The Prime Minister directed the province to quickly implement the project, create optimal conditions for investors and highly appreciated the good relationship between Vietnam and Sweden.

The Provincial Party Secretary said that Binh Dinh is a province with a strategic location in Central Vietnam, with an area of over 6,000 km², a population of 1.6 million people, a 130 km long coastline, and synchronous transport infrastructure with Quy Nhon international seaport, airport, road, and railway. The province owns 7 industrial parks with clean land, abundant human resources (60% of working age), a training system from 2 multidisciplinary universities and 5 vocational schools. Binh Dinh is famous for its Cham cultural heritage, traditional arts, and welcomes more than 9 million tourists each year thanks to 5-star resorts and golf courses.

The province pioneered the construction of a science urban area, attracted 20 Nobel Prize-winning scientists, and is implementing FPT 's artificial intelligence center. The Provincial Party Secretary pledged to create a favorable investment environment, work day and night to quickly issue investment policies, promote adjustments to raw material import regulations, and ensure surplus green energy from renewable energy projects.

Provincial Party Secretary Ho Quoc Dung emphasized: "The biggest problem is importing raw fabric here, so we will promote ministries and branches to adjust regulations accordingly so that we can import raw materials."

Provincial Party Secretary Ho Quoc Dung believes that with the Group's experience, prestige, pioneering mission, and the commitments of Syre's Chairman to the Prime Minister, the project will be successfully implemented.

"The project is not only a symbol of Vietnam-Sweden cooperation in the green industry and circular world, but also contributes to upgrading diplomatic relations between Vietnam and Sweden in the near future," Mr. Ho Quoc Dung emphasized.

Ms. Susanna Campbell, President of Syre Group

“We are delighted to be here and receive such a warm welcome from Binh Dinh Province,” said Susanna Campbell, President of Syre Group. “Companies that are oriented towards a circular and sustainable economy will create a very good environment for the people of the region. Developing a green and circular orientation is a common goal of countries around the world and is also what helps Vietnam affirm its position in green energy development.”

Ms. Susanna Campbell emphasized that Syre has purchased advanced technology from the US, expressing her desire to build a long-term relationship with Binh Dinh, taking advantage of the strong relationship between Vietnam and Sweden to develop the project.

Ambassador Johan Ndisi (left)

Ambassador Johan Ndisi expressed his honor to witness the signing ceremony, affirming that Sweden is one of the first European countries to establish relations with Vietnam, investing more than 3 billion USD with more than 70 businesses present. Mr. Johan assessed Vietnam as a key country in the global supply chain, emphasizing that Syre's project will promote green transformation, enhancing the strategic partnership between the two countries, especially in science and technology and circular economy.

Mr. Dennis Nobelius, CEO of Syre Group

Mr. Dennis Nobelius, General Director of Syre Group, shared: “Syre Group aims to form and develop the world’s first fabric recycling project and we have chosen Vietnam. You have a very dynamic economy, the textile and garment sector is very developed in Vietnam. The technology we use is one of the most advanced technologies.”

Mr. Dennis Nobelius said that Syre will collect textile waste from countries such as India, Spain, Indonesia, and the Philippines, and committed to working with the province to solve the problem of importing raw materials, while affirming: "I believe that choosing to invest in Binh Dinh is a good choice."

Chairman of the Provincial People's Committee Pham Anh Tuan spoke at the signing ceremony.

Speaking at the signing ceremony, Chairman of the Provincial People's Committee Pham Anh Tuan said that Binh Dinh province is ready to provide maximum support to Syre Group and emphasized: Binh Dinh is developing and has a supportive viewpoint, attracting investors to the province with the goal of circular, green, applying high and advanced technology, protecting the environment; at the same time, reviewing the rapid working process: from the first meeting on December 13, 2024, the meetings on January 17, February 18, April 13, to the meeting with the Prime Minister on April 23, 2025. Therefore, for this project, the province has worked seriously, determinedly and urgently so that the project can be implemented best in the province.

The Chairman of the Provincial People's Committee pledged to support green energy with new projects in the Becamex area, upgrade infrastructure such as Phu My deep-water port, Phu Cat international airport, and train high-quality human resources. The province will coordinate to resolve legal procedures, especially regarding the import of recycled fabrics, and at the same time request Syre to complete the project soon to demonstrate the circular economy.

Chairman of the Provincial People's Committee Pham Anh Tuan emphasized: "We really hope that the next phase will be faster to gain the absolute support of the Government, trying to complete the procedures before January 2026."

The Chairman of the Provincial People's Committee also requested Syre to maximize the use of domestic materials and keep its commitment to making the project a symbol of green transformation in the textile and garment industry.

At the ceremony, Binh Dinh Provincial People's Committee and Syre Group signed a Memorandum of Understanding on investment cooperation.

Chairman of the Provincial People's Committee Pham Anh Tuan (right) and Mr. Dennis Nobelius, General Director of Syre Group signed the Memorandum of Understanding on investment cooperation.

Previously, on April 23, 2025, Prime Minister Pham Minh Chinh received leaders of Syre and Binh Dinh province, welcoming the project because it is consistent with the circular economy and green energy transition orientation, and assessed Binh Dinh as an ideal location with synchronous infrastructure, seaports, international airports and abundant clean energy. The project promises to become a symbol of Vietnam - Sweden cooperation, contributing to upgrading diplomatic relations and promoting sustainable development.