On 27 January 2021, Intel Corporation announced an additional investment of $USD 475 million into Intel Products Vietnam (IPV).
The new investments of $USD 475 million are planned to add on the original Intel’s $1 billion investment - Intel Products Vietnam. The goal is to build the state-of-the-art chip assembly and test manufacturing (ATM) facility in Saigon High-Tech Park (SHTP) Meanwhile, Intel Products Vietnam aims at enhancing its 5G products, Intel Core processors with Intel Hybrid Technology, and 10th Gen Intel Core processors.
Besides the new investment, Intel Products Vietnam has reached notable achievements since its first announcement in 2006, which is summarized in below table:
The new investment is a step forward during the COVID-19 pandemic period. While neighboring countries still had to close their economies, Vietnam was able to largely open up its operations. This allows Intel to increase production by 30% in the first half of 2020 from a year earlier.
In addition, the milestone of 2 billion units produced by IPV has made the decision for Intel to continue investing in facilities and teams in Vietnam, according to Mr. Kim Huat Ooi, vice president of Manufacturing and Operations and general manager of Intel Products Vietnam Co., Ltd.
Vietnam is becoming increasingly important in the technology supply chain. Companies such as Samsung Electronics and Pegatron, Foxconn, Luxshare ICT (suppliers to Apple) have begun to shift from China to Vietnam in recent years because of rising costs, as well as commercial and geopolitical uncertainties.
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