Intel invests additional US$475 million in Vietnam
The US corporation continues to expand its scale in Vietnam.
Intel Corporation announced it has invested another US$475 million in Intel Products Vietnam (IPV) for the chip assembly and manufacturing facility.
|Intel invests additional US$475 million in Vietnam. Photo: Intel Corporation|
Intel’s additional investment of US$475 million was made between June 2019 and December 2020, and helped enhance manufacturing of Intel’s 5G products, Intel Core processors with Intel Hybrid Technology and 10th Gen Intel Core processors.
This new investment is in addition to Intel’s US$1 billion investment to build a state-of-the-art chip assembly and test manufacturing facility in Saigon Hi-Tech Park (SHTP), which was first announced in 2006. It takes the total investment in Vietnam to US$1.5 billion so far.
As of the end of 2020, IPV has shipped more than two billion units to customers worldwide. In 2020, it set a record export value of US$13.1 billion, accounting for 68% of the total export value of the SHTP. The total export value of IPV exceeded US$50.2 billion in the past ten years.
Mr. Kim Huat Ooi, Vice President of Manufacturing and Operations cum General Manager of Intel Products Vietnam, said that it affirmed the importance of IPV in the parent’s production chain, adding “this is why we continue to invest in our facilities and team in Vietnam.”
IPV is one of ten manufacturing sites that Intel has globally and remains the largest US high-tech investment in Vietnam. In the challenge of Covid-19, when most local and foreign-invested enterprises have been impacted. The increased investment decision from Intel means a great deal to Vietnam, Ho Chi Minh City and SHTP, in particular, according to Mr. Nguyen Anh Thi, Chairman of the SHTP Management Board.
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