HANOI — On Wednesday, the Vietnamese Prime Minister hosted Susanna Campbell, the Chair of the Swedish textile recycling organization SYRE, along with Johan Ndisi, the Swedish Ambassador to Vietnam. During the meeting, the Prime Minister urged SYRE to invest in establishing a green and sustainable textile industry in Vietnam.
The Prime Minister welcomed the SYRE delegation’s visit to seek investment opportunities in green production and the circular economy. He encouraged the company to utilize Vietnam’s abundant textile waste and surplus materials to create sustainable products while incorporating clean energy and environmentally-friendly inputs in their manufacturing processes.
He praised SYRE’s intention to invest in Bình Định province, describing it as a strategic choice due to the area’s favorable business environment and well-developed infrastructure, which includes an airport and a deep-water seaport.
The Prime Minister reaffirmed Vietnam’s commitment to rapid yet sustainable development, setting a target growth rate of 8 percent for this year and aiming for double-digit growth in the coming years. He emphasized that this growth would be driven by science, technology, innovation, and digital transformation, alongside strong international collaboration in capital, technology, governance, and human resources.
Campbell noted that SYRE is making significant strides to expand into international markets with a strong emphasis on green transition and sustainability, particularly within the textile sector. She expressed her enthusiasm for collaborating with Vietnam to establish the country as a global hub for circular textile production.
She highlighted that SYRE’s manufacturing model aims for complete circularity, producing outputs that are equivalent to textile-grade input materials. Campbell views Vietnam as a strategic location in the region, where the green transition is progressing rapidly.
The Prime Minister emphasized that Vietnam is a leading producer of renewable energy in Southeast Asia and remains dedicated to enhancing its clean energy sector. He reiterated the country’s commitment to meeting the European Union’s stringent environmental standards and actively implementing green energy practices, circular economy principles, and sustainable textiles in alignment with the goals set at COP26–28.
He assured that Vietnam welcomes high-tech foreign investments and is ready to assist SYRE in operating efficiently in the country. He also expressed a desire to strengthen Vietnam-Sweden relations through collaboration in sustainable textile industry investment and circular economy development.
Ambassador Ndisi affirmed Sweden’s dedication to partnering with Vietnam on the green transition, emphasizing that Swedish companies are pursuing long-term investment strategies in the nation. He expressed hope that the two countries would soon elevate their bilateral relationship to new heights.
SYRE plans to invest $1 billion in a polyester fabric recycling complex in Bình Định province, aiming to establish Vietnam as the world’s first high-tech circular textile hub that meets US and EU sustainability standards, in line with Vietnam’s net-zero emissions goals. The emphasis on sustainable textile industry investment reflects a broader commitment to environmental responsibility and economic growth.
