To produce a polyester fiber for industrial use, having excellent spinnability and physical properties and giving a dip cord having high tenacity and low shrinkage by specifying the conditions of the solid-phase polymerization of polyester chip and the conditions for the spinning and drawing of the polymer.

An Sb compound is added as a polymerization catalyst to a polyester raw chip in an amount to get a polymer containing 250-400ppm of residual Sb and the chip is subjected to solid-phase polymerization to increase the intrinsic viscosity to 1.00-1.15 and decrease the water-content to ≤30ppm. The chip is melted at 290-300°C, spun through a nozzle in a pack and wound at a take-up speed of 2,000-2,400m/min. The obtained undrawn yarn having an intrinsic viscosity of 0.97-1.02 and an orientation degree of (40-50)×10-3 is continuously drawn to obtain the objective polyester fiber.