Tuesday, November 7, 2006
Intel Corp. has been given permission to boost its investment in Vietnam to $1 billion, according to a report from the Associated Press.
Back in February, Vietnam's Ministry of Investment and Planning approved an investment license for Intel to spend $605 million in the nation.
Now, the Vietnamese government has approved an amended license, according to the AP. This enables Intel to invest up to $1 billion and increase its production capacity in a plant, according to the report, which cited Nguyen Anh Tuan, director of the Information Technology Industry at the Ministry of Telematics.
Intel is constructing a $300 million chip assembly and testing plant in Ho Chi Minh City. The plant, which will employ 1,200 people, is slated to be completed in 2007.
By: DocMemory
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