Intel eyes investment expansion in Vietnam
Intel plant in the Saigon Hi-Tech ParkPhoto: tinhte.vn
The information was revealed by Mr. Kim Huat Ooi, vice president and CEO of Intel Products Vietnam, during Tuesday online Ho Chi Minh City – US Business Conference. However, he did not say how much will be added to the firm’s Vietnam project.
Annual export revenue of Intel Vietnam was estimated at $3.6 billion. The amount will increase in the coming years, said Kim, adding Intel was the first tech firm to have invested over $1 billion in the city.
The computer chip maker has also invested $25 million in eight universities in Ho Chi Minh City. The investment has turned Vietnam plant the largest Intel assembly and testing factory in the world.
In early 2006, Intel invested $300 million to build new facilities, including a chip assembly and testing plant in the Saigon Hi-Tech Park.
In November 2006, Intel Products Vietnam officially announced to increase the factory size from 14,000 square meters to 46,000 square meters. It increased total investment to $1 billion.