Intel raises investment in VietNam to $1 billion
Intel, the world’s largest maker of
computer chips, said Friday that it would more than triple its initial
investment in Vietnam to $1 billion, greatly expanding the size of a chip
assembly and testing plant that it is building here.
Intel, the world’s largest maker of computer chips, said Friday that it would more than triple its initial investment in Vietnam to $1 billion, greatly expanding the size of a chip assembly and testing plant that it is building here.
“It will be the model for larger, more efficient assembly and test facilities that will gain Intel greater efficiency and improve our ability to meet our customers’ requirement, making Intel even more competitive,” said Brian Krzanich, the company’s vice president and general manager for assembly and test.
Construction is expected to begin in March on what is to be Vietnam’s first semiconductor factory and Intel’s sixth testing center in Asia.
Krzanich said that production was expected to begin in the second half of 2009 and that Intel planned an eventual work force of 4,000.
Vietnam is expecting the plant to stimulate its fledgling high-technology industry and serve as a magnet for further investment.
The announcement Friday came the same week that the World Trade Organization offered membership to Vietnam and a week before Hanoi serves as host to the a summit meeting of the Asia-Pacific Economic Cooperation, which will draw leaders from 21 countries, including President George W. Bush.
“Vietnam, as an active member of APEC and of the WTO despite numerous difficulties ahead will try to create all favorable conditions for the investment environment,” the prime minister said in remarks prepared for delivery at a speech in Ho Chi Minh City.
VietNam is obviously learning from their oldest enemy, China, that the best way to move their nation ahead is through commerce. Is there a better process than simply doing long-term business with each other — to define what politicians call “diplomacy”?
Posted: Sat - November 11, 2006 at 05:59 AM