Spectre, a Danish maker of functional garments for outdoor sports brands, started operating its $17 million factory in An Giang province Friday, the company’s third in Vietnam.
The factory has an annual output of two million products and can employ 2,500 people. It is the first Danish-backed project in the Mekong Delta province.
As the 38,000 square-meter plant is partly fueled by solar energy, it can reduce 1,600 tons of emissions a year, according to Spectre. The other two Spectre plants are in the northern provinces of Thai Binh and Nam Dinh.
At the opening ceremony, Danish Ambassador to Vietnam Nicolai Prytz, said the factory is a strong testament of Denmark’s growing investment in Vietnam and the Vietnamese government’s commitments to reducing emissions attracting high-quality investment, particularly green energy supply for sustainable production.
Danish companies are rushing to make their presence felt in Vietnam as the Southeast Asian nation emerges as a new manufacturing hub. Denmark’s largest investment project in Vietnam to date is Lego’s 44-hectare modern manufacturing facility in the southern province of Binh Duong, worth $1 billion. The facility is the first in Vietnam and the second in Asia of the toy giant.
During a visit scheduled next month, the royal couple of Crown Prince Frederik and Crown Princess Mary and a delegation of 36 major Danish firms are expected to join seminars and meetings on green transition together with Vietnamese government and business leaders.
Vietnam attracted $18.7 billion in registered foreign direct investment (FDI) in the year to September 20. Denmark was in the fifth position with $1.32 billion in the period, after Singapore, South Korea, Japan, and China. So far, the European nation has invested $1.79 billion in 154 projects in the Southeast Asian nation.