Intel denies new investment in Vietnam
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U.S. chip giant Intel has said that it had never announced any additional investment in Vietnam apart from the $1.5 billion investment it has already made so far.
“After raising our investment to $1.5 billion in 2021, we have never made any official announcement of a new investment,” a representative said Wednesday.
The U.S. chipmaker had shelved a plan to invest $1 billion more in Vietnam, citing anonymous sources. The news outlet first reported about the plan in February.
Intel began its operation in Vietnam in 2006 with a chip manufacturing and testing factory in Ho Chi Minh City.
The factory, Intel Products Vietnam, is one of 10 manufacturing hubs of the company globally.
The facility, which employs 2,800 people, has shipped over 3 billion product units over 15 years of operation.
Intel leaders committed to long-term investment in Vietnam in a meeting with Deputy Prime Minister Tran Luu Quang in October.
Intel CEO Patrick Gelsinger told Prime Minister Pham Minh Chinh in May that the company would invest several more times in Vietnam in the future.
The company is expanding its investment in chip packaging in Malaysia, one of Vietnam’s main competitors in attracting foreign direct investment.
Questions & Answers
Q.What is Intel's total investment in Vietnam to date?
What is Intel's total investment in Vietnam to date?
Intel has made a total investment of $1.5 billion in Vietnam, after raising its investment to this amount in 2021.
Q.When did Intel begin its operations in Vietnam?
When did Intel begin its operations in Vietnam?
Intel began its operation in Vietnam in 2006 with a chip manufacturing and testing factory located in Ho Chi Minh City.
Q.How many people does the Intel factory in Vietnam employ?
How many people does the Intel factory in Vietnam employ?
The Intel Products Vietnam facility employs 2,800 people, making it one of the company's 10 manufacturing hubs globally.
Q.Which country is Intel expanding its chip packaging investment in, besides Vietnam?
Which country is Intel expanding its chip packaging investment in, besides Vietnam?
Intel is expanding its investment in chip packaging in Malaysia, which is noted as one of Vietnam’s main competitors for foreign direct investment.
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