Pandora, a Danish jewellery manufacturer, will invest US$100 million in building a new facility in the Viet Nam Singapore Industrial Park (VSIP) in the southern province of Binh Duong, under a memorandum of understanding signed between two sides on Thursday.

The facility will be built according to the LEED Gold standard, a leading green building certification, and powered by renewable energy. It will create jobs for more than 6,000 people and have an annual capacity of 60 million pieces of jewellery.

Construction for the project is set to begin in early 2023 and it is expected to be operational by the end of 2024.

Jeerasage Puranasamriddhi, chief supply officer of Pandora group, said they have chosen Binh Duong Province for the availability of skilled workforce, its infrastructure and proximity to international airports, adding that the enthusiasm, support and strong commitment that the group receives from the local administration was also a reason.

Denmark’s Ambassador to Viet Nam, Kim Højlund Christensen, said that this is the second-largest Danish project invested in Viet Nam in the past five months. It proves that Viet Nam has become an attractive destination for Danish investors.

The construction of Pandora's first facility in Viet Nam will contribute to further expanding and intensifying close cooperation between the two countries through high-quality foreign-invested projects which help provide added value and skilled jobs, he said.

Deputy Chairman of the provincial People’s Committee Nguyen Van Danh said the local administration is committed to creating the best conditions for the group in building and operating the new facility. — VNS