Chairman of the Provincial People's Committee Pham Anh Tuan worked with Syre Group (Sweden)

Working view

At the meeting, Mr. Tim King - Senior Operations Director of Syre Group (Project Director) said that Syre is a textile recycling company, with the goal of reducing carbon emissions and waste in the textile industry by recycling Polyester on a large scale. Syre plans to build 12 global factories by 2032, producing 3 million tons of recycled Polyester, helping to reduce 15 million tons of CO2 annually.

Mr. Tim King - Senior Operations Director of Syre Group discussed at the working session

Accordingly, the Group plans to invest in Binh Dinh in a 10-hectare Polyester fiber recycling production complex located in Nhon Hoi Industrial Park (Area A), Nhon Hoi Economic Zone with a total investment capital of 700 million to more than 1 billion USD. This factory will help Vietnam become a global circular textile center, create jobs, develop a waste management ecosystem, and enhance textile transportation and classification activities.

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

Speaking at the meeting, Chairman of the Provincial People's Committee Pham Anh Tuan welcomed Syre's intention to choose Binh Dinh as the location to invest in building its factory. Binh Dinh is very interested in and prioritizes sustainable and circular production investment projects. Therefore, Syre Group's plan to invest in a textile waste recycling factory in Binh Dinh at this time is in line with the province's green and sustainable development goals. At the same time, Binh Dinh has favorable conditions for the Group to invest and develop regionally and globally.

Chairman of the Provincial People's Committee Pham Anh Tuan also requested the Group to ensure regulations on textile waste treatment and recycling and the policies of the Vietnamese Government such as: Sustainable development, green growth, circular economy, efficient and economical use of resources, and waste recycling.

Chairman of the Provincial People's Committee Pham Anh Tuan (2nd from right) presented flowers and souvenirs to Mr. Tim King - Senior Operations Director of Syre Group

The province is also actively completing major infrastructure projects to improve regional connectivity, creating favorable conditions for businesses to operate; in addition, many preferential policies are applied and maximum support conditions are provided when foreign businesses come to invest in the province in the coming time./.