Prime Minister Pham Minh Chinh and Ms. Susanna Campbell, Chairman of SYRE Group at the meeting – Photo: VGP
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On the morning of June 13, local time, within the framework of his official visit to the Kingdom of Sweden, Prime Minister Pham Minh Chinh had a working session with leaders of several large Swedish corporations and businesses in Stockholm, including H&M and SYRE Groups. The meeting aimed to promote sustainable investment and development cooperation between the parties in Vietnam.
Ms. Susanna Campbell, Chairman of SYRE Group, shared that SYRE is a subsidiary of the global fashion group H&M and technology investment firm Vargas. With the goal of establishing large-scale recycling complexes in strategic regions worldwide, SYRE has been granted an investment certificate by the People’s Committee of Binh Dinh province for a high-tech polyester fabric recycling factory project, with a total investment of nearly USD 1 billion.
Mr. Adam Karlsson, CFO of H&M Group, added that H&M has had a presence in Vietnam since 2017 with 13 stores nationwide. The group plans to expand to over 20 stores in the near future. H&M has been sourcing from Vietnam for almost 20 years and currently works with 103 partner factories, employing nearly 87,000 workers.
The leaders of H&M and SYRE expressed their desire to expand their investments in Vietnam towards green development. They requested the Prime Minister to direct relevant ministries and sectors to create favorable conditions for their planned projects. The groups also committed to deeply engaging in the transformation of Vietnam’s textile industry towards a circular economic model.
Prime Minister Chinh congratulated H&M on its successes in Vietnam, a market of 100 million people, and commended the groups’ efforts in orienting towards a global circular textile ecosystem development. The Prime Minister emphasized that this is also Vietnam’s development goal in the next stage.
Welcoming the project proposal from SYRE, especially with the expectation of making Vietnam the first global circular textile hub, the Prime Minister suggested that H&M and SYRE share their experiences and accompany the Vietnamese government in establishing regulations for the sustainable development of the textile and footwear industries. He also encouraged enterprises to utilize domestic materials – a strength of Vietnam – in combination with advanced technology and standard-compliant materials to protect the environment and achieve sustainable development.
Ms. Campbell and Mr. Karlsson thanked the Prime Minister for his time and committed to implementing their projects in line with the orientation and goals, especially contributing to circular economy and environmental protection in Vietnam.
– 20:58 13/06/2025
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