Lego factory is southern Vietnam to begin partial operation from August
The construction of Lego’s factory in Vietnam’s southern province of Binh Duong has reached 61.7% completion, meeting the deadline, and can enter partial operation from August, said Lego Group Vice President Preben Elnef.
The executive made the statement at a Wednesday meeting with Deputy Minister of Construction Bui Xuan Dung, while affirming he would leave his position in Vietnam to become the head of Lego’s $1-billion project in Virgina, the U.S.
Jesper Hassellund Mikkelsen (center, right) and Preben Elnef (center, left) at a meeting with Ministry of Construction in Hanoi on February 21, 2024. Photo courtesy of the Ministry of Construction.
Elnef also noted he would delegate his position as general manager of Lego Manufacturing Vietnam to Jesper Hassellund Mikkelsen, senior vice president, LEGO Production.
For his part, Mikkelsen, in charge of Lego production in Asia, urged the Ministry of Construction to continue supporting Lego’s project in Binh Duong province. In reply, Deputy Minister Dung requested relevant agencies to cooperate with Lego and asked Lego to closely focus on fire safety regulations.
In Vietnam, after announcing a $1 billion investment in December 2021, Lego kicked off factory construction in Binh Duong in November 2022. The 44-hectare state-of-the-art factory at Vietnam-Singapore Industrial Park (VSIP) is 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.
In September 2023, Lego established a recruitment center in the province, aiming to hire 500 people towards the end of 2024.
In January 2024, Lego reported to Binh Duong authorities that the factory is on track to begin trial production in the second half of 2024.
- Related News
- Read More
Techcombank, Vingroup okayed to form life insurance firm
Techcombank, a major private lender in Vietnam, said it has secured a license from the Ministry of Finance to set up a life insurance firm, with itself and leading conglomerate Vingroup as major shareholders.
Finance - Thu, July 24, 2025 | 11:04 am GMT+7
Vietnam's logistics major Gemadept completes 70% of 2025 profit plan after 6 months
Gemadept Corporation, a leading port and logistics company in Vietnam, had completed 70% of the year's profit target set by its AGM after six months.
Companies - Thu, July 24, 2025 | 8:53 am GMT+7
Danish Ambassador, Carlsberg Vietnam's meeting with Hue city's administration reflects long-term partnership commitments
The recent visits by Danish Ambassador Nicolai Prytz and Carlsberg Vietnam leadership to the Hue city People's Committee reaffirm their commitment to long-term partnership and sustainable development.
Companies - Thu, July 24, 2025 | 8:00 am GMT+7
Vietnam’s digital asset market attracts major players
Domestic securities firms, investment funds, and prominent technology companies both in and outside Vietnam are actively positioning themselves to tap into the country’s growing digital asset and cryptocurrency market.
Finance - Wed, July 23, 2025 | 11:55 pm GMT+7
Vietnam's Deputy PM pledges support for German group's vocational projects
Deputy Prime Minister Nguyen Chi Dung welcomed German-based Avestos Group's interest in promoting investment and business cooperation in Vietnam, emphasizing the continued positive development of the Vietnam-Germany Strategic Partnership across all sectors.
Companies - Wed, July 23, 2025 | 11:48 pm GMT+7
SP Group partners with Hoa Sen Group for Vietnam’s first industrial cooling-as-a-service offering
SP Group (SP) recently announced a partnership with Hoa Sen Group, one of Southeast Asia’s leading steel manufacturers, to introduce Vietnam’s first Industrial Cooling-as-a-Service (CaaS) offering.
Companies - Wed, July 23, 2025 | 11:42 pm GMT+7
'Green' products more costly than traditional ones: exec
Products manufactured using eco-friendly processes are often more expensive than traditional ones, posing a major challenge for businesses transitioning to green production, said Nguyen Bich Dien, deputy general director of Fashion Link JSC (Faslink).
Companies - Wed, July 23, 2025 | 11:35 pm GMT+7
US agrees to reduce tariffs for Philippines
U.S. President Donald Trump on Tuesday, July 22 agreed to reduce tariffs on the Philippines by one percentage point, after what he termed a successful meeting with his Philippine counterpart Ferdinand Marcos.
Southeast Asia - Wed, July 23, 2025 | 11:18 pm GMT+7
White House releases US-Indonesia trade deal framework
The U.S. and Indonesia have agreed to a framework for negotiating an Agreement on Reciprocal Trade to strengthen the bilateral economic relationship, which will provide both countries’ exporters unprecedented access to each other’s markets, the White House stated in a joint statement on July 23 (Vietnam time).
Southeast Asia - Wed, July 23, 2025 | 11:15 pm GMT+7
Vietnam's Ministry of Finance proposes 20% tax on capital gains from securities, equity transfers
The Ministry of Finance has proposed a significant change to the personal income tax regime applied to capital gains from securities and equity transactions, shifting from the current flat-rate method to taxing actual profits.
Finance - Wed, July 23, 2025 | 11:04 pm GMT+7
Binh Minh Plastics reports all-time high profit in Q2
Improved sales revenue and a higher gross profit margin of 47% helped Binh Minh Plastics JSC, a leading plastics company in Vietnam, post a record after-tax profit of nearly VND330 billion ($12.62 million) in Q2/2025.
Companies - Wed, July 23, 2025 | 10:44 pm GMT+7
Obstacles for renewables projects must be removed before July 25: Vietnam PM
Prime Minister Pham Minh Chinh has requested ministries, local administrations, and state-owned Vietnam Electricity (EVN) to remove obstacles for wind and solar power projects before July 25.
Energy - Wed, July 23, 2025 | 6:34 pm GMT+7
Sumitomo eyes more energy, railway, smart cities opportunites in Vietnam
Sumitomo seeks to further cooperation with Vietnam in the fields of energy, railways, and smart cities development, said Yukihito Honda, managing executive officer at the Japanese corporation.
Economy - Wed, July 23, 2025 | 5:13 pm GMT+7
Tyre firms struggle despite lower rubber prices
The recent decline in natural rubber prices, typically seen as a positive signal for the tyre industry due to reduced input costs, has not brought the expected improvement in profitability.
Companies - Wed, July 23, 2025 | 3:40 pm GMT+7
ADB forecasts 6.3% GDP growth rate for Vietnam in 2025, country aims for 'at least 8%'
The Asian Development Bank on Wednesday revised its Vietnam GDP growth projection down to 6.3% in 2025 and 6% in 2026, from 6.6% and 6.5% in April, respectively.
Economy - Wed, July 23, 2025 | 3:08 pm GMT+7
Vinhomes to start construction on $155 mln industrial park project in northern Vietnam in early 2026
Vinhomes, the real estate arm of Vietnam’s conglomerate Vingroup (HoSE: VIC), is expected to commence construction of an industrial park in Hai Phong in the first quarter of 2026.
Industrial real estate - Wed, July 23, 2025 | 10:19 am GMT+7
