Denmark jewelry maker Pandora defers Vietnam factory operations to 2026
Denmark’s Pandora, the world’s largest jewelry brand by revenue, has delayed the opening of its $100-million factory in Vietnam's southern province of Binh Duong to 2026 over challenges in getting a construction license.
Michael Zinck Jensen, project manager of Pandora Production Holding Company, requested help in dealing with administrative procedures at a Monday meeting with Deputy Minister of Construction Bui Xuan Dung.
He said the plant’s operation had been delayed to 2026 from the original schedule of 2025.
Delegates at a meeting between the Ministry of Construction and Danish jewllery maker Pandora in Hanoi, October 23, 2023. Photo courtesy of the construction ministry.
In 2022, the firm had said it aimed to start construction of its new facility in early 2023 with production commencing by the end of 2024.
The factory, located at the VSIP III Industrial Park in the southern province, is set to run fully on renewable energy, employ 6,000 people and have an annual output of 60 million items.
The company’s third manufacturing facility and its first outside Thailand aims at the Gold Status, second-highest rank of the Leadership in Energy and Environmental Design (LEED) green building rating system.
At Monday’s meeting, Danish Ambassador to Vietnam Nicolai Prytz observed the factory was the second largest investment by a Danish firm in Binh Duong province after Lego’s $1 billion investment. He cited the province’s strengths of infrastructure, proximity to major airports and seaports, availability of skilled workforce and local authorities’ support.
For his part, Deputy Minister Dung said the ministry had received Pandora’s application for construction in September, but it needed some updates. The ministry will work with the company to complete the application soon, he added.
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