Intel invests additional $475 million in Vietnam plant

Reuters | Phuong Nguyen Thursday | 01/28/2021 16:18

FILE PHOTO: U.S. chipmaker Intel Corp's logo is seen on their "smart building" in Petah Tikva, near Tel Aviv, Israel December 15, 2019. REUTERS/Amir Cohen

Intel has invested an additional $475 million in its Vietnam plant to improve technologies and boost production of its 5G products and core processors, the U.S. chipmaker said in a statement.

The move takes Intel’s total investments in Vietnam to around $1.5 billion, it said.

“Intel Products Vietnam is an important part in Intel’s supply chain,” general manager Kim Huat Ooi said, explaining the decision to invest more in facilities and human resources in Vietnam.

Vietnam has become an increasingly crucial part of the global technology supply chain, with companies such as Apple and Samsung seeking to diversify their production to minimise the impact of a Sino-U.S. trade war and after the Southeast Asian country has been able to contain the spread of the coronavirus so far.

Source: Reuters

Same category news

Hot news of the day

Latest news