Toymaker Lego to receive first land tranche for $1 bln facility

By Bach Quang
Tue, August 9, 2022 | 1:16 pm GMT+7

Binh Duong province authorities are set to hand over 22 hectares of land to Danish toymaker Lego’s $1 billion carbon neutral factory project by this month end.

Lego's toy making plant in Vietnam will be the giant’s sixth manufacturing site globally and second in Asia. Photo courtesy of Lego Group.

Lego's toy making plant in Vietnam will be the giant’s sixth manufacturing site globally and second in Asia. Photo courtesy of Lego Group.

According to the Singapore-invested VSIP joint venture, developer of the VSIP Binh Duong III industrial park, land levelling is proceeding rapidly, including the plot for Lego. Roads are also being built as part of the park’s infrastructure development.

So far, 10 of 44 hectares earmarked for Denmark’s Lego have been levelled. The first 22 hectares will be handed over this month and the rest by the end of September.

The above information update was provided Monday to Nguyen Van Loi, a Party Central Committee member and chief of Binh Duong’s Party Committee when he paid a working trip to the industrial park.

Binh Duong Vice Chairman Nguyen Van Danh and Preben Elnef, vice president of the Lego Group, were also members of the visiting team.

Earlier, on June 13, Elnef had met with Loi and requested help with investment procedures, including handing over the project site for construction. Elnef had said then that Lego expected to bring the solar-power driven facility online in 2024.

Loi had said then that the provincial administration was striving to hand over all 44 hectares at once or in two batches of 22 hectares each.

During Monday’s field trip, Elnef thanked local authorities and others concerned for their efforts to create favorable conditions for Lego to receive the earmarked land.

Lego obtained a license in March this year to develop its latest project worldwide, as also the largest investment in Vietnam by a Danish company. The state-of-the-art facility, planned as the Lego Group’s first carbon-neutral factory, will create up to 4,000 jobs over the next 15 years.

It will be the giant’s sixth manufacturing site globally and second in Asia. Lego officials said they chose Vietnam because they wanted to cater to rising demand in Asia and also strengthen their supply chain.

The Danish group said the new factory will feature solar panels on its roof and that VSIP will build a solar project nearby on behalf of Lego. Together, they will produce enough renewable energy to match 100% of the factory’s annual requirements. The factory will be designed to accommodate electric vehicles and be outfitted with energy-efficient production equipment.

Lego also said it will, in collaboration with VSIP, plant 50,000 trees in Vietnam to compensate for vegetation removed during construction.

Comments (0)
  • Read More
Franchise expert offers tips for Vietnamese firms to enter Indian market

Franchise expert offers tips for Vietnamese firms to enter Indian market

The Indian food market is a competitive playground, and 38% of the population is vegetarian, so Vietnamese enterprises wishing to sell their products in India need to take these factors into account, according to franchise expert Nguyen Phi Van.

Economy - Fri, March 15, 2024 | 11:17 am GMT+7

Korea’s CS Wind launches $80 mln wind tower plant in Vietnam

Korea’s CS Wind launches $80 mln wind tower plant in Vietnam

CS Wind Vietnam, a unit of South Korea’s CS Wind Corporation, inaugurated an $80 million offshore wind tower factory in Vietnam’s southern coastal province of Ba Ria-Vung Tau on Wednesday.

Energy - Fri, March 15, 2024 | 10:35 am GMT+7

Fiber industry may collapse without bank support: Vinatex chairman

Fiber industry may collapse without bank support: Vinatex chairman

Vietnam’s textile and garment sector is facing huge difficulties caused by the global situation and domestic interest and exchange rate policies, with the fiber industry likely to disappear in the near future without bank support, said Le Tien Truong, chairman of Vietnam's largest garment maker Vinatex.

Economy - Fri, March 15, 2024 | 10:19 am GMT+7

Vietnam plastics industry expects 4% export growth in 2024

Vietnam plastics industry expects 4% export growth in 2024

Vietnamese plastic producers need to focus on making recycled products, improving technology and promoting sustainable development to hit the export growth target of 4% this year, said experts.

Economy - Fri, March 15, 2024 | 8:08 am GMT+7

S Korea promotes trade with ASEAN through free trade agreement

S Korea promotes trade with ASEAN through free trade agreement

South Korea is promoting negotiations to improve the Free Trade Agreement (FTA) with the Association of Southeast Asian Nations (ASEAN) to further benefit businesses.

Southeast Asia - Thu, March 14, 2024 | 10:32 pm GMT+7

Indonesia firm on election of future Jakarta governors: official

Indonesia firm on election of future Jakarta governors: official

The Indonesian government is firm on its stance that future Jakarta governors should be elected by Jakarta residents instead of being appointed by the central government, said Home Affairs Minister Tito Karnavian.

Southeast Asia - Thu, March 14, 2024 | 10:28 pm GMT+7

Giant pot of pho broth highlights festival in Nam Dinh province

Giant pot of pho broth highlights festival in Nam Dinh province

Pho Festival 2024 in the northern city of Nam Dinh will feature a 300-litre saucepan of broth cooked by 20 local artisans and 30 helpers.

Travel - Thu, March 14, 2024 | 5:36 pm GMT+7

New night tour offers an escape to history

New night tour offers an escape to history

Seeing Hanoi at night is proving really popular for tourists visiting the capital.

Travel - Thu, March 14, 2024 | 5:22 pm GMT+7

Vietnam PM orders lower lending rates, wider credit access

Vietnam PM orders lower lending rates, wider credit access

Vietnamese Prime Minister Pham Minh Chinh has asked the central bank and commercial lenders to further lower lending interest rates and facilitate greater credit access.

Banking - Thu, March 14, 2024 | 4:39 pm GMT+7

Chinese photovoltaics manufacturer GoodWe opens first overseas factory in Vietnam

Chinese photovoltaics manufacturer GoodWe opens first overseas factory in Vietnam

GoodWe Vietnam Technology Co. Ltd., under Chinese photovoltaic inverter manufacturer and smart energy solution provider GoodWe, has opened a factory in the northern coastal city of Hai Phong.

Energy - Thu, March 14, 2024 | 4:32 pm GMT+7

Vietnam looks to hasten removal of obstacles for offshore wind, LNG power projects

Vietnam looks to hasten removal of obstacles for offshore wind, LNG power projects

The Vietnamese government has asked ministries and agencies to speed up the removal of obstacles facing offshore wind and liquefied natural gas (LNG) fired power projects.

Energy - Thu, March 14, 2024 | 3:56 pm GMT+7

Sumitomo, Vingroup ink green transport development pact

Sumitomo, Vingroup ink green transport development pact

Japanese keiretsu Sumitomo and taxi operator GSM JSC uder Vietnamese conglomerate Vingroup inked a green transportation development agreement on Tuesday to foster carbon neutrality in Vietnam.

Companies - Thu, March 14, 2024 | 3:02 pm GMT+7

Southeast Asia becomes Tesla's priority for expansion

Southeast Asia becomes Tesla's priority for expansion

Expansion into Southeast Asia is a priority of Tesla, Rohan Patel, a senior executive of the US automotive company, said on Tuesday, highlighting the fast-growing market where the company faces competition from China's BYD.

Southeast Asia - Thu, March 14, 2024 | 12:04 pm GMT+7

Sumitomo-invested $2.58 bln thermal power plant in central Vietnam inaugurated

Sumitomo-invested $2.58 bln thermal power plant in central Vietnam inaugurated

Van Phong Power Company, a wholly-owned subsidiary of Japanese keiretsu Sumitomo, inaugurated the 1,432 MW Van Phong 1 coal-fired power plant in Vietnam’s central province of Khanh Hoa on Wednesday.

Energy - Thu, March 14, 2024 | 11:50 am GMT+7

Vietnamese economy making dynamic shift with robust growth: Hong Kong news site

Vietnamese economy making dynamic shift with robust growth: Hong Kong news site

Vietnam is going through a dynamic shift, marked by robust growth and the development of several key trends supporting a stronger looking future, according to an article recently published by the Hong Kong-based news site asianinsiders.com.

Southeast Asia - Thu, March 14, 2024 | 11:43 am GMT+7

Vietnam central bank continues cash withdrawals with $1.82 bln in 3 days

Vietnam central bank continues cash withdrawals with $1.82 bln in 3 days

The State Bank of Vietnam (SBV), the country’s central bank, withdrew a total of VND45 trillion ($1.82 billion) over three consecutive days ending Wednesday in an attempt to cool the U.S. dollar rally in the country.

Banking - Thu, March 14, 2024 | 11:04 am GMT+7