LEGO accelerates construction of $1 billion factory in Binh Duong
Construction is set to begin in the second half of 2022 and production is due to start during 2024.
Denmark-based LEGO Group is committed to speeding up the construction of a US$1 billion factory in the southern province of Binh Duong.
LEGO accelerates the construction of a $1 billion factory in Binh Duong Province. Photo: LEGO
At a meeting with leaders of Binh Duong Province on January 17, Preben Elnef, Vice President of LEGO Group said that the company is recruiting employees for the project in the locality.
He highly appreciated the dynamic and professional investment environment as well as the long-term development orientation of the southern province.
For his side, Vo Van Minh, Chairman of Binh Duong People’s Committee pledged to create the best conditions for the project in terms of ground, transport infrastructure, and the power supply so that the group can soon deploy the project.
The construction of the factory, the largest Danish foreign direct investment so far in Vietnam, is expected to start late this year and it would be put into operation in 2024.
The factory, spanning 44ha, expected to create over 4,000 jobs and run on solar energy, would be LEGO’s sixth in the world and the second in Asia.
The new site expands the LEGO Group’s global supply chain network which locates factories close to its major markets. This provides the flexibility to respond quickly to shifts in local consumer demand, shortens the supply chain, and reduces the environmental impact of long-distance shipping.
At a recent investment promotion session with the European market, Alain Cany, Chairman of the European Chamber of Commerce in Vietnam (EuroCham), said this is proof that Binh Duong continues to become a dynamic, innovative, convenient, and safe locality, a new and attractive investment destination for European investors.
LEGO Corporation was founded by Ole Kirk Kristiansen in Billund, Denmark in 1932. Its toys are now sold in over 130 countries and territories around the world.