Intel to establish a chip assembly plant in Vietnam

Intel to establish a chip assembly plant in Vietnam

World’s largest maker of microprocessors Intel has announced their plans to establish a chip assembly plant in Vietnam. This latest unit would cost the company around USD 300 million and the company would also be testing out their products at this base.

This latest initiative from Intel would give Vietnam a big boost as the government is trying hard to showcase itself as a tech base for the big giants in the industry. This facility from Intel would be established in Ho Chi Minh City’s Saigon Hi-Tech Park.

It would also become the largest investment of this kind by an American company in its former wartime adversary. Vietnam is now expected to use this deal to impress other foreign investors to look at establishing their bases here.

Intel Chairman Craig Barrett spoke about this deal: “We consider this to be one small step in a long journey of involvement with Vietnam.” This unit is expected to generate employment for around 1200 people and the development is expected to begin immediately. The plant is expected to start production by next year.