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Intel channels additional 475 million USD into Vietnam

Intel had poured an additional 475 million USD into Intel Products Vietnam (IPV), its single-largest assembly and test plant within the Intel Assembly and Test (ATM) network, IPV Director of Finance Alan Danner said on January 27.
Intel channels additional 475 million USD into Vietnam ảnh 1Illustrative image (Source: Bloomberg))
HCM City (VNA) - Intel had poured an additional 475 million USD into IntelProducts Vietnam (IPV), its single-largest assembly and test plant within the IntelAssembly and Test (ATM) network, IPV Chief Financial Officer Alan Danner said on January 27.

He made the announcement during a meeting with businesseshosted by Saigon Hi-tech Park (SHTP) in Ho Chi Minh City.

This is a new investment following a sum of 1.04 billion USDinvested to build a chip assembly and test manufacturing facility at SHTP in2006, bringing the semiconductor company’s investment in Vietnam to 1.5 billionUSD in total.

The additional capital was channelled into IPV between June2019 and December 2020 to bolster the production of Intel’s 5G products, Intel Core processors with IntelHybrid Technology, and the 10th Gen Intel Core.

IPV is animportant part of Intel’s production chain across the world, Danner said,adding that the firm will further diversify and improve its activities inVietnam to adopt complex technologies and new products, allowing Intel tocapitalise on new opportunities.

Head ofthe SHTP management board Nguyen Anh Thi said new investment projects andexpansions by major investors demonstrate their trust in Vietnam’s humanresources and stable investment climate.

Hepledged that SHTP will continue to improve human resources quality, focus onthe development of supply chains and supporting industries, and improvetransport and telecommunications infrastructure, in an effort to create thebest conditions for effective business operations.

The IPVplant has been in operation since 2010 and has created and shipped abroad morethan 2 billion processors and semiconductors to date.

As of2020, it had surpassed 50 billion USD in export value and generated nearly7,000 jobs./.
VNA
#Intel #Intel Products Vietnam (IPV) #Saigon Hi-tech Park (SHTP) #investment climate #export value #vietnamplus #vietnam news agency
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