The Toymaking Giant Lego Is Going To Build A $1bn Factory In Vietnam
A new manufacturing operation in Vietnam has been announced by the toymaking company Lego. It is assumed they are planning to keep pace with the growing demand for its products in Asia.
Lego has announced that they are planning to invest more than $1bn in Vietnam’s main business hub of Ho Chi Minh City. Five years ago, the Danish company opened a plant in China. This would be the second factory in Asia of this company. Because now the company is earning double-digit from this region.
Lego’s chief operations officer Carsten Rasmussen said in a statement, “We are very grateful for the support of the Vietnamese government in helping us achieve our ambition to build our first carbon-neutral factory.”
The company also stated, “This provides the flexibility to respond quickly to shifts in local consumer demand, shortens the supply chain, and reduces the environmental impact of shipping long distances.”
The plant is set to start its production next year. The company has planned to create 4,000 jobs over the next 15 years. The managing partner of RSR Research Paula Rosenblum explained the new extension of Lego, “What they’re doing is what we should have done a long, long time ago, which is hedge our bets. If you see demand coming from a certain direction, you’ve got to have alternatives.”