Under the MoU, the new facility will be constructed in Vietnam Singapore Industrial Park 3 (VSIP) according to the LEED Gold standard, a leading green building certification, and be powered by 100% renewable energy.
Construction of the project is set to start in early 2023 and production is due to start by the end of 2024. Once it is completed, the plant is expected to create jobs for more than 6,000 craftspeople and have an annual capacity of 60 million pieces of jewellery.
Speaking at the signing ceremony, Pandora’s Chief Supply Officer Jeerasage Puranasamriddhi hailed Binh Duong Province and the VSIP for providing great infrastructure for the project. “We are ready and excited for our new chapter in Vietnam,” he stated.
For his part, Nguyen Van Danh, Deputy Chairman of the Binh Duong Provincial People´s Committee expressed his delight that Pandora Group has chosen Binh Duong for the establishment of a new manufacturing facility in Vietnam.
He also pledged that provincial authorities of Binh Duong will create the most favourable conditions for Pandora Group throughout the process of developing, building and operating the new facility.