Denmark jewelry maker Pandora to start building Vietnam factory this month
Denmark’s Pandora, the world’s largest jewelry brand by revenue, will begin constructing a $150-million factory in the southern province of Binh Duong on May 16.
The plant, located at the Vietnam-Singapore Industrial Park 3 (VSIP 3), would have an annual capacity of 60 million products and employ 7,000 people, according to the Danish Embassy in Vietnam.
VSIP 3 Industrial Park takes shape in Binh Duong province, southern Vietnam. Photo courtesy of Nguoi Lao Dong (Laborer) newspaper.
The factory, called Pandora Production Vietnam, will be fully powered by renewable energy, contributing to Vietnam’s green transition progress and meeting the company’s sustainable development requirements, the embassy announcement said.
The factory would be Pandora’s third global manufacturing facility and its first outside Thailand.
In October 2023, Pandora had said that it planned to open the Binh Duong factor in 2026.
So far, 135 Danish businesses have set up legal entities in Vietnam, according to the embassy. Major Danish firms like Lego, Scancom, Vestas, Carlsberg, Julie Sandlau, Copenhagen Offshore Partners (COP) and Copenhagen Infrastructure Partners (CIP), have been investing in the country, creating thousands of jobs, it added.
VSIP 3 also hosts a Lego factory, another major Danish investment. In February 2024, the Danish toymaker said construction of the factory was 61.7% complete, on schedule and set to begin partial operations this August.
After announcing a $1 billion investment in December 2021, Lego kicked off factory construction in November 2022. It had said then that the 44-hectare state-of-the-art factory at the Vietnam-Singapore Industrial Park (VSIP) was designed to be Lego’s most sustainable facility to date, supporting the toymaker’s ambition to achieve a 37% cut in absolute global carbon emissions by 2032.
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