On October 23, in Hanoi, Deputy Minister of Construction Bui Xuan Dung welcomed and worked with the delegation of the Danish Pandora Group with attendance of Danish Ambassador to Vietnam Nicolai Prytz; Program Director and Financial Controller Pandora Corporation Michael Zinck Jensen; Managing Director of Pandora Vietnam Factory Huynh Nhon with representatives of the Danish Embassy in Vietnam, representatives of Departments and Agencies under the MoC.
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Overview of working session
At the working session, Danish Ambassador to Vietnam Nicolai Prytz noted that, the Pandora Group is one of the major Danish corporations investing in Vietnam.
Recently, the Group and Vietnam - Singapore Industrial Park Joint Venture Company (VSIP) signed an investment cooperation agreement to build a jewelry factory in VSIP III Industrial Park (Tan Uyen town, Binh Duong). Pandora Group will build the project with a total investment of about 100 million USD. The factory is set to run fully on renewable energy, employs 6,000 people and has an annual output of 60 million items.
At the working session, Danish Ambassador to Vietnam Nicolai Prytz observed the factory was the second largest investment by a Danish firm in Binh Duong province after Lego’s $1 billion investment. He cited the province’s strengths of infrastructure, proximity to major airports and seaports, availability of skilled workforce and local authorities’ support.
However, the project is facing difficulties in construction licensing procedures. Mr. Zinck Jensen said he hopes the Ministry of Construction will create conditions for granting construction permits as soon as possible so that Pandora can implement the project as planned.
Welcoming the Danish Ambassador and Pandora Group to work with the Ministry of Construction, Deputy Minister Bui Xuan Dung said, the Ministry always supported and created favorable conditions for foreign businesses to invest in Vietnam and highly appreciated the Pandora’s investment project in Binh Duong, contributing to the locality in realizing the goal of socio-economic development and sustainable development.
Regarding the problems that the Group is still facing, Deputy Minister Bui Xuan Dung commented: In principle, investors need to comply with current legal regulations to soon receive construction permits.
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Deputy Minister Bui Xuan Dung and leaders of units under the Ministry took a photo with the Danish Pandora Group’s delegation.
For his part, Deputy Minister Dung said the ministry had received Pandora’s application for construction in September, but it needed some updates. The ministry will work with the company to complete the application soon, he added.