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According to information from the Danish Embassy in Vietnam, on May 16, the world's largest jewelry company Pandora will hold a groundbreaking ceremony for Pandora Production Vietnam Factory in VSIP 3, Hoi Nghia Ward, Tan Uyen City.

Nguyen Van Danh (right), Vice Chairman of Binh Duong Provincial People's Committee, receives  Michael Zinck Jensen, Head of the Project Department of Pandora Production Holding Company.

Investors trust

On May 12, 2022, Pandora Group and Vietnam - Singapore Industrial Park (VSIP) Joint Venture Company Limited held an investment cooperation signing ceremony to build a jewelry manufacturing facility in VSIP 3, with a total Investment capital of more than US$160 million. This is Pandora's third factory in the world and the first production facility built outside of Thailand, meeting 60 million jewelry products each year, creating jobs for more than 6,000 workers.

Previously, at a meeting with provincial leaders, Michael Zinck Jensen, Head of the Project Department of Pandora Production Holding Company in Binh Duong, said that the group had conducted a thorough survey and assessment in all provinces, cities of Vietnam and chose Binh Duong to invest in a factory for three reasons: availability of highly skilled labor; good infrastructure and close to the international airport, convenient for jewelry export; especially, it is the enthusiasm, support and strong commitment from the provincial government. Michael Zinck Jensen hopes to continue to receive enthusiastic support from specialized agencies of Binh Duong province to implement and ensure the project progress and the factory would come into operation on schedule.

Thus, although newly established, VSIP 3 has attracted more than US$1.54 billion. Investment capital from Denmark is leading with a large-scale Lego project with a total investment of over US$1.3 billion and the Pandora project with a total investment of about US$163 million. According to Mikkel Lyndrup, Deputy Ambassador of Denmark to Vietnam, currently there are more than 140 Danish businesses investing in Vietnam. Among them, leading Danish corporations such as Lego and Pandora have committed to having large investment projects in Binh Duong in the near future. According to the Deputy Ambassador, Binh Duong is a dynamic province with outstanding development speed and investment potential.

Attract selective, high-quality investment

Binh Duong is planning to implement an investment attraction strategy for the next phase. In the coming time, the province will continue to mobilize all investment resources for development, determining to attract FDI capital in the direction of quality, depth and sustainability.

Recently, at a meeting with provincial leaders to discuss the organization of the High-level Forum "Green Growth 2024" in Binh Duong, Dominik Meichle, Vice President of EuroCham Vietnam, said that Binh Duong will continue to become into a dynamic, innovative, convenient, safe locality and a new investment destination and attractive new investment opportunities.

“There are currently more than 50 European businesses investing in Binh Duong and in the future there will be more. I highly appreciate Binh Duong province on FDI attraction activities and outstanding results that the province has achieved. Recently, when Denmark's Lego Group invested in a large project with a capital of more than US$1.3 billion to build a carbon-free factory, it was another highlight of European investments in Binh Duong. To attract more investors from Europe, I think that currently, the prerequisite is that the province must build green, ecological industrial parks... European businesses coming to Vietnam are always concerned about environmental issues", said Dominik Meichle, Vice President of EuroCham Vietnam.

Grasping the development requirements as well as the trend of attracting new generation FDI, Binh Duong has continued to shift towards attracting selective investment in the direction of increasing brainpower, high science and technology and environmental friendliness. To achieve this goal, the province is focusing on strongly improving the business investment environment and competitiveness to adapt to the new production of the 4.0 industrial revolution. Binh Duong is upgrading existing industrial parks to become smarter, while planning new industrial parks towards modernity and ecology.

Mai Hung Dung, Standing Member of the Provincial Party Committee, Standing Vice Chairman of the Provincial People's Committee, said that to continue to maintain attractiveness to investors, Binh Duong is upgrading existing industrial parks to become smarter, while planning new industrial parks towards modernity and ecology. The province's new generation industrial parks such as VSIP 3, Science and Technology Industrial Park, Urban - Service Industrial Park etc. will bring a comprehensive ecosystem, attracting high-tech industries, to bring economic efficiency and sustainable Development.

Reported by Ngoc Thanh - Translated by Ngoc Huynh