Vietnam is becoming a deeper link in the global value chain.

Photo: Danish Embassy

From Pandora's $150 million investment to priorities in offshore wind power, clean energy, and sustainable production, the Danish Ambassador to Vietnam, Lina Gandløse Hansen, believes this is not just a story about capital and jobs, but also reflects Vietnam's growing role in the global value chain.

The milestones of Pandora and the pivotal role of Vietnam.

Pandora has just opened a jewelry manufacturing plant in Ho Chi Minh City, the group's first production facility outside of Thailand . With an investment of $150 million, the plant is designed to have a capacity of up to 60 million products per year and create jobs for approximately 7,000 workers when fully operational.

For Ambassador Lina Gandløse Hansen, Pandora's presence is a significant milestone in Vietnam-Denmark relations in the economic field. According to her, Pandora's inauguration of the jewelry factory is clear evidence of the concrete results achieved by the two countries, as well as the increasing flow of investment from Danish businesses into Vietnam.

"I am truly proud to represent Denmark in bringing a highly-regarded Danish company to Vietnam, along with a highly skilled workforce," said the ambassador.

Pandora stated that the decision to invest in Vietnam aims to expand production capacity and enhance the resilience of its supply chain. The factory in Vietnam will significantly add capacity to the group's global manufacturing network.

According to Pandora's CEO, Berta de Pablos-Barbier, Vietnam was chosen because of its business environment, infrastructure, and especially its workforce with a tradition of jewelry making. "For us, the inauguration of this facility is not simply about opening a new business, but about building a foundation for Pandora's next decade," she said.

Vietnam is a long-term manufacturing destination.

According to the Danish ambassador, projects like Pandora and LEGO demonstrate how Danish businesses have significantly changed their perception of Vietnam.

"These investments demonstrate strong confidence in Vietnam as a long-term manufacturing destination," she commented.

The ambassador stated that Vietnam's advantages lie not only in its market size but also in its skilled workforce, infrastructure, and increasingly developed production capacity. Vietnam's position in regional and global value chains is also a crucial factor.

For its part, Pandora aims to achieve more than just adding another production facility. The company wants to build a more flexible manufacturing network, reducing reliance on a single location and capable of meeting demand from global markets.

When fully operational, the factory in Vietnam could reach a capacity of 60 million products per year, employing approximately 7,000 workers.

Photo: Danish Embassy

Opportunities are not just for big corporations.

One of the issues highlighted by Ambassador Lina Gandløse Hansen was the spillover effect of large investment projects on Vietnamese businesses.

"I believe Danish businesses offer much more than just investment and jobs. They bring not only technology and capital, but also investments in talent and local suppliers," she said.

Pandora now utilizes numerous Vietnamese businesses in its supply chain, providing services, machinery, facilities, finance, legal support, and personnel. As the factory expands from approximately 700 employees to 7,000, the ecosystem of local suppliers is expected to grow accordingly.

According to Pandora's leadership, as Vietnam's technical capabilities, skills, and quality control continue to improve, domestic businesses will have more opportunities to participate in more specialized and higher value-added processes.

This is also the direction Denmark wants to promote in its economic relations with Vietnam: not only attracting more capital but also increasing connections between businesses of the two countries, transferring skills, and enhancing the capacity of the local ecosystem.

Green energy will determine investment attractiveness.

Ambassador Hansen stated that 2026 marks the 55th anniversary of the establishment of diplomatic relations between Vietnam and Denmark. In this new phase, green transition is becoming one of the key pillars.

The two countries established a Green Strategic Partnership in 2023, focusing on areas such as energy, food, health, agriculture , maritime, and sustainable solutions.

According to the ambassador, Denmark is particularly interested in offshore energy, offshore wind power, energy efficiency, and clean energy for industry.

"These areas will also contribute to further promoting trade and investment cooperation between the two countries, and increase investment by Danish businesses in Vietnam," she said.

Green energy will also be one of the factors that Danish businesses consider when choosing investment locations.

"This will continue to be an important requirement if Vietnam wants to attract more investment from Denmark in the future," the Ambassador stated.

The Pandora factory in Ho Chi Minh City partly exemplifies this trend. The facility is designed according to sustainable production standards, uses renewable energy, and has achieved LEED Gold certification.

There is room for expansion in bilateral relations.

Ambassador Lina Gandløse Hansen stated that, in addition to energy, Denmark sees potential for cooperation in renewable energy, energy efficiency, green manufacturing, sustainable agriculture and food production, as well as green and maritime logistics, health , and life sciences.

"In all these areas, our focus will be on translating shared ambitions and goals into concrete projects, together with our Vietnamese partners," she said.

A new step in bilateral relations between Denmark and Vietnam will see the opening of a Consulate General in Ho Chi Minh City on December 1st. According to the Ambassador, strengthening diplomatic presence in Ho Chi Minh City reflects the increasing number of Danish investors in the southern region and the increasingly close economic ties between Vietnam and Denmark.

After 55 years of diplomatic relations, the Vietnam-Denmark story is being placed in a new context. From projects like Pandora, the focus is no longer just on attracting investment, but on how Vietnam can participate more deeply in the value chain, how domestic businesses can better connect with international corporations, and how growth can go hand in hand with green transformation.

For Denmark, this is also a way for commitments under the Green Strategic Partnership to be translated into tangible projects.