The construction of LEGO factory of over USD 1 billion in Binh Duong province – the realization of high quality investment inflows

Exactly 1 year after signing a Memorandum of Understanding between LEGO Group from Denmark and Vietnam - Singapore Joint Venture Company Limited (VSIP), in the morning of November 3, LEGO Group officially held a groundbreaking ceremony to start the factory construction project at VSIP III in Binh Duong. The project is the result of the proactive and active participation of leaders of the government, ministries, branches and Binh Duong province in timely seizing investment cooperation opportunities in the new situation to welcome multinational and large enterprises come to invest and do business in Vietnam.

The Crown Prince of Denmark, leaders of the government, ministries, branches and leaders of Binh Duong province and investors visit the LEGO Group's factory construction model at VSIP III. Photo: Ngoc Thanh

Miracle of time

The groundbreaking ceremony was attended by the Crown Prince of Denmark Frederik André Henrik Christian, Politburo member, Standing Deputy Prime Minister Pham Binh Minh, Nguyen Van Loi, Member of the Party Central Committee, Secretary of the provincial Party Committee, Head of the provincial National Assembly Delegation, Vo Van Minh, Deputy Secretary of the provincial Party Committee, Chairman of Binh Duong provincial People's Committee, representatives of ministries, central government and local branches and Danish consulates.

The event of importance is also on the agenda of the official visit to Vietnam by Crown Prince Frederik of Denmark and Princess Mary Elizabeth from October 31 to November 3. Earlier at the meeting with LEGO Group Chief Operating Officer Carsten Rasmussen to Vietnam to promote the preparation for the LEGO Group's project, Permanent Deputy Prime Minister Pham Binh Minh said that the investment decision was LEGO's sixth global factory in Binh Duong as a historic miracle for the reason that the project was decided in a record short time while the COVID-19 epidemic disrupted international trade and investment flows, showing the very high determination of both Vietnam and LEGO Group.

Crown Prince of Denmark Frederik André Henrik Christian, Permanent Deputy Prime Minister Pham Binh Minh, Binh Duong provincial Party Committee Secretary Nguyen Van Loi and leaders of ministries, branches and localities perform the groundbreaking ceremony to build LEGO Factory

Speaking at the groundbreaking ceremony, Niels B. Christiansen - CEO of LEGO Group, said: “We are extremely grateful for all the support LEGO Group has received and will be receiving to make the plans a reality. At the same time, we look forward to working with all levels of authorities and partners in the construction of the plant, creating positive impacts on the local economy and communities.”

The push from green FDI inflows

It is known that the LEGO Factory in Binh Duong will be LEGO's first carbon-neutral using on-site battery power from solar cells. VSIP will build a solar project on behalf of LEGO to produce enough renewable energy to meet 100% of the plant's annual requirements. The plant will be built with the goal of meeting LEED Gold minimum standards, covering all areas of sustainability from energy, water to waste treatment. LEGO will work with VSIP to plant 50,000 trees in Vietnam to compensate for the green that is cut down during the construction of the factory.

Carsten Rasmussen - Chief Operating Officer of LEGO Group expressed his thanks to the government, ministries, sectors and Binh Duong province for their support for LEGO Group to quickly build the factory. Carsten Rasmussen affirmed "the very right choice" as every LEGO factory, wherever it is located, is designed to produce the safest and highest quality products and provide a world-class environment for colleagues, always striving to provide the best. “This investment will help us bring the LEGO to play experience closer to future generations of children. In addition to the commitment to meeting exceptionally high quality and safety standards at the factory, skilled local workers will be trained by the LEGO Group to operate the high-tech manufacturing equipment used in every LEGO factory around the world,” said Carsten Rasmussen.

Vo Van Minh - Deputy Secretary of the provincial Party Committee, and Chairman of the provincial People's Committee emphasized that the LEGO project in Binh Duong province is the largest high-tech project invested in the province since the COVID-19 pandemic. With decades of experience in attracting investment and a smart and sustainable development strategy in the future, Binh Duong fully believes that it will be the right place for the LEGO Group to develop long-term and efficient production and business operations. Binh Duong provincial authority is committed to creating the best conditions for the corporation throughout the process of development, construction and operation, actively contributing to the socio-economic development of the locality in particular and the whole nation.

The LEGO Group founded in Billund, Denmark in 1932 to offer the LEGO game system, based on LEGO bricks, allowing children and fans to design and build anything they can within their imaginable world. LEGO's new factory, to be built on an area of ​​44 hectares in Binh Duong with an investment of more than USD 1 billion, will start operating in 2024 to bring 4,000 job opportunities in Vietnam over the next 15 years. In addition, LEGO will also indirectly support local businesses and communities.

Reported by Ngoc Thanh – Translated by Vi Bao

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