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

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.

Signing ceremony scene

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

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 circular polyester fibers.

Provincial Party Secretary Ho Quoc Dung speaks at the signing ceremony

Speaking at the signing ceremony, Secretary of the Provincial Party Committee Ho Quoc Dung expressed his joy at welcoming the Swedish Ambassador and the leaders of Syre Group, and emphasized that the event was the result of effective work, especially after the meeting with the Prime Minister on April 23, 2025. The Prime Minister directed the province to quickly implement the project, creating optimal conditions for investors and highly appreciated the good relationship between Vietnam and Sweden.

The Provincial Party Committee 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 funds, abundant human resources (60% of working-age labor force), 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 its 5-star resorts and golf courses.

The province is a pioneer in building a science urban area, attracting 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 regulations on importing raw materials, and at the same time ensure surplus green energy from renewable energy projects. "Regarding the biggest obstacle of the project, which is importing raw fabric, we will promote work with ministries and branches to adjust regulations accordingly so that we can import raw materials." The Provincial Party Secretary affirmed.

Comrade Ho Quoc Dung believes that with the experience, prestige, and pioneering mission of the Group, and the commitments of Syre 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

Ms. Susanna Campbell, President of Syre Group, said: “We are very pleased to be here and receive the warm welcome from Binh Dinh province. Companies with a development orientation 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.

Ông Dennis Nobelius, Tổng Giám đốc Tập đoàn Syre

Mr. Dennis Nobelius, General Director of Syre Group, shared: “Syre Group aims to form and develop the world's first textile 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, the Philippines, committed to coordinating with the province to solve the import of raw materials, and affirmed: “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 pledged that Binh Dinh province is ready to provide maximum support to Syre Group to implement the project in the province. The provincial leadership's viewpoint is always to support and attract investors, circular, green projects, applying high technology, advanced, environmental protection.

The Chairman of the Provincial People's Committee reviewed the rapid working process in just over 4 months for the two sides to conduct the signing ceremony of the memorandum of understanding and affirmed that for this project, the province has worked seriously, determinedly and urgently to ensure the best implementation of the project in the province.

The Chairman of the Provincial People's Committee pledged to support green energy with the new project in Becamex VSIP Binh Dinh Industrial Park. In addition, the province is also promoting the early implementation of infrastructure upgrade projects serving international trade such as Phu My deep-water port, Phu Cat international airport, and training high-quality human resources to meet the labor requirements of enterprises. 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 in the coming period, the project 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 Group to maximize the use of domestic materials, keeping its commitment to make the project a symbol of green transformation in the textile and garment industry.

At the ceremony, the People's Committee of Binh Dinh Province 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.