PORTAL - On the afternoon of May 12, at the Administrative Center of Binh Duong province, Pandora Group (Denmark) and Vietnam-Singapore Industrial Park J.V. Co.,Ltd (VSIP) held a signing ceremony of investment cooperation to build a jewelry manufacturing facility at VSIP III (Tan Uyen Town, Binh Duong).
Attending were Mr. Kim Højlund Christensen - Ambassador of Denmark to Vietnam; Mr. Nguyen Van Danh - Vice Chairman of the Provincial People's Committee (PPC) and leaders of departments, committees and branches of Binh Duong province.
Accordingly, Pandora Group will build a project with a total investment of about 100 million USD to realize a new world-class jewelry manufacturing facility at VSIP III. The manufacturing facility is built according to LEED Gold standards - a leading certification for green building and uses 100% renewable energy completely. The project will create jobs for more than 6,000 craftsmen with an annual capacity of about 60 million pieces of jewelry. The project is expected to start construction in early 2023 and start production at the end of 2024. This is Pandora's 3rd facility in the world, and the first production facility built outside of Thailand. Pandora will also expand its existing facility in Thailand, bringing its total investment to over 1 billion DDK (about 160 million USD) over the next four years, bringing its total capacity to about 60%.
Mr. Jeerasage Puranasamriddhi (first row left cover) – Chief Supply Officer of Pandora Group and Mr. Nguyen Phu Thinh - General Director of Vietnam-Singapore Industrial Park J.V. Co.,Ltd sign the memorandum of understanding under the witness of the Ambassador of Denmark to Vietnam and leaders of Binh Duong province
Mr. Jeerasage Puranasamriddhi - Chief Supply Officer of Pandora Group said that Pandora had researched many places in the world before deciding to choose Vietnam and specifically Binh Duong province as the next production facility. "Binh Duong has excellent infrastructure and we really appreciate the support from the local government as well as from VSIP. Pandora's production expansion is a crucial step forward to meet evolving needs. After an overview of famous countries for jewelry production around the world, Pandora has chosen to establish a new facility right in Vietnam. The decision to choose Vietnam comes from the long history of handicraft production here, similar to Thailand. The availability of skilled labor is considered extremely important to us because Pandora jewelry products are finished manually by skilled craftsmen, which ensures the quality of each piece of jewelry we are producing. We conducted a thorough assessment survey across all provinces and cities in Vietnam and chose Binh Duong province for three reasons: Availability of skilled labor resources; infrastructure and near the international airport - convenient for the Company's jewelry export and finally, most especially, the enthusiasm, support and strong commitment from the provincial government "- Mr. Jeerasage Puranasamriddhi assessed.
Mr. Jeerasage Puranasamriddhi – Chief Supply Officer of Pandora Group speaks at the ceremony
Speaking at the ceremony, Mr. Kim Højlund Christensen said, this is Denmark's second largest signing ceremony that he has witnessed in the past 5 months. This proves that Vietnam becomes an attractive destination for Danish investors, especially thanks to the Government's strong commitment to reducing carbon emissions and actively responding to climate change. The Ambassador congratulated Pandora for making this important investment decision and hoped that the construction of Pandora's first manufacturing facility in Vietnam will contribute to expanding and further strengthening Denmark's close cooperation with Vietnam in the green transition of the economy through high-quality foreign investment projects with valuable manufacturing plants and jobs that require high skill. This project once again affirms the position of Binh Duong province, one of the localities most interested in by Danish companies. The Ambassador believes that Pandora Group will continue to receive the support of the Government of Vietnam and Binh Duong province throughout the project implementation.
Vice Chairman of the PPC Nguyen Van Danh speaks at the ceremony
Speaking at the ceremony, Mr. Nguyen Van Danh - Vice Chairman of the PPC expressed his pleasure when Pandora Group chose Binh Duong to establish a new manufacturing facility in Vietnam. With the province's open and attractive investment environment and VSIP's experience in construction planning and industrial park development, the Vice Chairman of the PPC believed that Binh Duong province in general and VSIP III in particular will be a suitable place for the Group to develop in the long term and do business effectively. The Binh Duong provincial government is committed to creating all the most favorable conditions for Pandora Group during the development, construction and operation of production and business facility in the province.
Pandora is the world's largest jewelry
brand, specializing in the design, manufacture and marketing of jewelry that is
entirely handmade from high-quality materials at affordable prices. Pandora
jewelry is sold in more than 100 countries, with 6,800 points of sale.
Reported by Mai Xuan- Translated by Thanh Tam