Denmark-based Pandora to build crafting factory in Vietnam

After securing a strong retail footprint, Pandora looks to build a jewellery crafting facility in Vietnam

The information was revealed at a recent working session between Pandora Group and Deputy minister of Construction Bui Xuan Dung.

The jewellery crafting facility in Binh Duong is Pandora's first manufacturing project in Vietnam. Located in Vietnam Singapore Industrial Park 3 (VSIP), the factory has an investment capital of $163 million. Construction is set to begin in the first quarter of 2024, and production is due to start in 2026.

The new facility will be built according to the LEED Gold standard, a leading green building certification, and be powered by 100 per cent renewable energy. It will create jobs for more than 7,000–9,000 people.

"However, the project is facing difficulties in construction licensing procedures, so production may be delayed until 2026 compared with its initial plan of 2025. Therefore, Pandora hopes the Ministry of Construction will ease procedures as well as provide licensing documents for the group to quickly deploy the project as soon as possible," said Michael Zinck Jensen, project manager of Pandora Production Holding Company in Binh Duong.

According to a report by the Ministry of Construction's (MoC) Department of Construction, Pandora submitted the application in September 2023, but did not initially meet requirements. The department requested that the group quickly complete the dossier for further appraisal before submitting it for approval.

Deputy Minister of Construction Bui Xuan Dung stated that the MoC was consistently creating favourable conditions for businesses to implement projects in line with the regulations. He assigned the Department of Construction Management as a focal point to receive the application and support Pandora in accelerating the progress of the project on schedule.

Headquartered in Copenhagen, Denmark, Pandora designs, manufactures, and markets hand-finished jewellery made from high-quality materials at affordable prices. Pandora jewellery is sold in more than 100 countries through more than 6,800 points of sale. The company generated revenue of $3.76 billion. In Vietnam, Pandora has 15 stores in large shopping malls in Hanoi and Ho Chi Minh City.

Pandora announces plans to build $100 million facility in Vietnam Pandora – a Danish jewellery brand – signed an MoU on May 12 to build a new jewellery crafting facility in the Vietnam-Singapore Industrial Park III (VSIP) in the southern province of Binh Duong, 40km north of Ho Chi Minh City.

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