Thursday, February 23, 2006
Vietnam's Ministry of Investment and Planning has approved an investment license for based Intel, which plans to build a $605 million plant in Ho Chi Minh City.
Intel reportedly applied for permission to build a plant in Vietnam early last month to produce both microchips and computer parts. At the time, it was unclear whether the plant would be a wafer fab or assembly plant.
According to the report, Intel Vietnam said the ministry will officially give the license to Intel on Feb. 28 at a ceremony in Ho Chi Minh City, to be attended by Intel chairman Craig R. Barrett.
Government officials in Hanoi were quoted as saying Intel's decision to invest in Vietnam would boost the country's information technology (IT) development program.
"Once Intel arrives in Vietnam, we expect more foreign investors to follow because they will need to work (with Intel) in producing computers and other accessories from here," said Nguyen Duc Hoang from the Ministry of Science, Technology and Environment.
Currently, about 260 U.S. firms, with a combined capital of $1.45 billion, have invested in Vietnam, according to government statistics quoted in the report
By: DocMemory
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