Sweden eyes US$1 billion hi-tech fabric production factory in Vietnam
VOV.VN - Sweden’s Syre Group has unveiled that it plans to invest US$1 billion in a high-tech fabric production complex project in Nhon Hoi A Industrial Park in the southern province of Binh Dinh.
The plan was revealed at a meeting on February 19 between Minister of Industry and Trade Nguyen Hong Dien and representatives from the People's Committee of southcentral Binh Dinh province and Sweden's Syre Group.
At the meeting, the senior operations director of Syre Group emphasised that the group aspires to invest in a polyester fiber recycling factory in the locality, saying that it is fully committed to applying cutting-edge technologies to the project in order to come up to world leading standards on environmental protection whilst complying with Vietnamese environmental protection regulations.
The group's representative proposed receiving support in deploying the project, staying updates on procedures for importing recycled materials, and connecting with relevant agencies in order to ensure the project’s smooth implementation.
He also put forward a specific mechanism on collecting, classifying, and treating used clothes to ensure the source of recycled materials for production activities.
For his part, Pham Anh Tuan, chairman of Binh Dinh Provincial People's Committee, underscored the importance of the group's project in turning Vietnam into a global circular textile and garment hub, thereby creating jobs and making significant contribution to the green economy.
He suggested that the Ministry of Industry and Trade provide guidance on concrete procedures for importing scrap fabric to ensure a stable source of raw materials for the project.
Meanwhile, Minister Dien voiced his support to Syre Group’s proposal, which meets growth drivers of investment, green transformation, digital transformation, and the circular economy.
He reminded that the import of recycled products must pay attention to environmental issues, with technologies applied in production activities meeting the requirements for the project’s wastewater and waste treatment.
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