Lego factory is southern Vietnam to begin partial operation from August

By Tri Duc
Fri, February 23, 2024 | 11:00 am GMT+7

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.

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.

Comments (0)
  • Read More
Trung Nam Group's solar power arm suffers $37 mln loss amid rising debt pressure

Trung Nam Group's solar power arm suffers $37 mln loss amid rising debt pressure

Trung Nam Thuan Nam Solar Power Company Limited, a subsidiary of the multi-sector Trung Nam Group, incurred a net loss of VND969 billion ($36.83 million) in 2025, reversing a profit of VND138.2 billion ($5.35 million) a year earlier, according to its 2025 earnings statement.

Companies - Sat, May 9, 2026 | 3:01 pm GMT+7

French firms eye Vietnam’s North-South high-speed railway project

French firms eye Vietnam’s North-South high-speed railway project

A delegation of 15 major French companies and industrial groups has expressed interest in participating in Vietnam’s planned North-South high-speed railway project.

Infrastructure - Sat, May 9, 2026 | 2:38 pm GMT+7

Grocery chain Bach Hoa Xanh opens 1st store in Hanoi, takes cautious northern Vietnam expansion approach

Grocery chain Bach Hoa Xanh opens 1st store in Hanoi, takes cautious northern Vietnam expansion approach

Bach Hoa Xanh, a grocery chain operated by Vietnam’s leading retailer Mobile World Investment Corporation (HoSE: MWG), has opened its first store in Hanoi, marking entry into one of the country’s most competitive consumer markets.

Companies - Sat, May 9, 2026 | 8:17 am GMT+7

Intel to continue expanding investment in Vietnam: exec

Intel to continue expanding investment in Vietnam: exec

U.S. chipmaker Intel will continue expanding investment, supporting workforce training, and helping develop Vietnam’s semiconductor ecosystem as the country refines investment support mechanisms to retain large-scale high-tech projects, said its executives.

Industries - Fri, May 8, 2026 | 7:48 pm GMT+7

Vietnam stocks extend rally to fresh record high

Vietnam stocks extend rally to fresh record high

Vietnam’s benchmark VN-Index extended gains for a fourth straight session on Thursday, closing at a new all-time high of 1,915.37 points as large-cap banking and property stocks supported the market despite continued foreign selling.

Finance - Fri, May 8, 2026 | 5:49 pm GMT+7

Vingroup’s VinMetal partners with Primetals for green steel complex in central Vietnam

Vingroup’s VinMetal partners with Primetals for green steel complex in central Vietnam

Vingroup’s subsidiary VinMetal has signed a strategic cooperation agreement with global steel giant Primetals Technologies to develop a large-scale integrated steel complex in central Vietnam.

Industries - Fri, May 8, 2026 | 4:25 pm GMT+7

Hanoi pushes Sumitomo, BRG to accelerate $4.2 bln smart city project

Hanoi pushes Sumitomo, BRG to accelerate $4.2 bln smart city project

Hanoi authorities have asked Japan’s Sumitomo and local conglomerate BRG Group to quicken the progress of the North Hanoi Smart City project as soon as legal procedures are finalized.

Real Estate - Fri, May 8, 2026 | 3:31 pm GMT+7

Moody's Ratings upgrades MBBank's deposit ratings to Ba2 from Ba3, outlook stable

Moody's Ratings upgrades MBBank's deposit ratings to Ba2 from Ba3, outlook stable

Moody’s Ratings (Moody’s) has announced an upgrade of the local currency and foreign currency long-term deposit and issuer ratings for Military Commercial Joint Stock Bank (MB, HoSE: MBB) from Ba3 to Ba2, aligning with Vietnam’s sovereign rating (Ba2 positive). The outlook remains "Stable."

Banking - Fri, May 8, 2026 | 3:00 pm GMT+7

Vietnam welcomes leading Indian groups to expand energy, infrastructure cooperation: top leader

Vietnam welcomes leading Indian groups to expand energy, infrastructure cooperation: top leader

Vietnam is ready to create favorable conditions for capable Indian corporations and businesses to expand investment and operations in the country in line with its laws, while ensuring transparency and balanced interests among stakeholders, said Vietnam’s Party chief and President To Lam.

Economy - Fri, May 8, 2026 | 1:59 pm GMT+7

Vietnam airport operator ACV records slows disbursement for Long Thanh mega-airport project

Vietnam airport operator ACV records slows disbursement for Long Thanh mega-airport project

Airports Corporation of Vietnam's (ACV) slow disbursement for the Long Thanh International Airport project, located in the southern province of Dong Nai, highlights implementation bottlenecks despite the company's strong profitability in Q1/2026 and substantial cash reserves for the country's largest aviation infrastructure project.

Companies - Fri, May 8, 2026 | 1:41 pm GMT+7

Vietnam property developers shift to asset-holding strategy for stable cash flow

Vietnam property developers shift to asset-holding strategy for stable cash flow

Vietnamese property developers are increasingly shifting away from the traditional build-to-sell model and focusing instead on accumulating long-term assets capable of generating stable recurring income, as the industry adapts to lessons learned from the market downturn of 2022-2023.

Real Estate - Fri, May 8, 2026 | 12:07 pm GMT+7

Vietnamese, Indian firms exchange 27 agreements on aviation, tourism, logistics, technology

Vietnamese, Indian firms exchange 27 agreements on aviation, tourism, logistics, technology

Vietnamese and Indian firms on Thursday exchanged 27 cooperation agreements aimed at boosting trade, investment, tourism and training between the two countries, thereby making bilateral partnership deeper, more practical and effective.

Economy - Fri, May 8, 2026 | 11:13 am GMT+7

MBBank ranks among Vietnam's leading lenders for SME working capital in key industries

MBBank ranks among Vietnam's leading lenders for SME working capital in key industries

Military Bank (MB) has emerged as one of Vietnam’s leading providers of working capital financing for small and medium-sized enterprises (SMEs) operating in key economic sectors, according to National Credit Information Center (CIC) data.

Banking - Fri, May 8, 2026 | 8:56 am GMT+7

Hanoi eyes massive replanning of Red River corridor, relocation of riverside communities

Hanoi eyes massive replanning of Red River corridor, relocation of riverside communities

Hanoi plans to gradually relocate and reorganize all residential areas outside the Red River dike system as part of an ambitious urban redevelopment strategy aimed at transforming both banks of the river into a new economic and cultural corridor for the capital.

Economy - Thu, May 7, 2026 | 5:04 pm GMT+7

Thaco, VinFast, TC Group urge Vietnam gov't to keep auto sector under conditional business rules

Thaco, VinFast, TC Group urge Vietnam gov't to keep auto sector under conditional business rules

Vietnam’s three major domestic automotive corporations - Thaco, VinFast and TC Group - have urged the government to maintain automobile manufacturing, assembly and import activities within the list of “conditional business sectors,” warning that deregulation could weaken the country’s long-term industrial strategy and expose local producers to unfair competition.

Economy - Thu, May 7, 2026 | 4:09 pm GMT+7

Prudential Vietnam remits $194 mln in retained earnings to parent company

Prudential Vietnam remits $194 mln in retained earnings to parent company

Prudential Vietnam transferred over VND5.1 trillion ($194 million) in retained earnings to its parent company, Prudential Corporation Holdings, earlier this year, according to disclosures in its 2025 financial statements.

Finance - Thu, May 7, 2026 | 3:33 pm GMT+7