Denmark pours 100 million USD into Binh Duong province

Pandora, the world’s largest jewellery brand, signed a memorandum of understanding to build a new facility in Vietnam Singapore Industrial Park (VSIP) in Binh Duong province. (Photo: VNA)

Binh Duong (VNA) – Pandora, a Danish jewelry manufacturer, will invest 100 USD million to build a new facility in the Vietnam Singapore Industrial Park (VSIP) in the southern province of Binh Duong under a memorandum of understanding signed between two sides on May 12.

The facility will be built according to the LEED Gold standard, a leading green building certification, and powered by renewable energy. It will create jobs for more than 6,000 craftspeople and have an annual capacity of 60 million pieces of jewelry.

Construction for the project is set to begin in early 2023 and expected to be operational by the end of 2024.

Jeerasage Puranasamriddhi, Chief Supply Officer of Pandora group, said they have chosen Binh Duong province for the availability of skilled workforce, its infrastructure and proximity to international airports, adding that the enthusiasm, support and strong commitment that the group receives from the local administration was also a reason.

Denmark’s Ambassador to Vietnam, Kim Højlund Christensen, said that this is the second largest Danish project investing in Vietnam in the past five months. It proves that Vietnam has become an attractive destination for Danish investors.

The construction of Pandora's first facility in Vietnam will contribute to further expanding and intensifying close cooperation between the two countries through high quality foreign-invested projects with added value and skilled jobs, he said.

Vice chairman of the provincial People’s Committee Nguyen Van Danh said the local administration is committed to creating the best conditions for the group in building and operating the new facility./.