Intel Invests Additional $475 Million in Vietnam | TechPowerUp Intel Corporation today announced it has invested a further US $475 million in Intel Products Vietnam (IPV). This new investment is in addition to Intel's US$1 billion investment to build a state-of-the-art chip assembly and test manufacturing facility in Saigon Hi-Tech Park (SHTP), first announced in 2006. This takes Intel's total investment in its Vietnam facility to US $1.5 billion.
"As of the end of 2020, Intel Products Vietnam has shipped more than 2 billion units to customers worldwide. We're very proud of this milestone, which shows both how important IPV is to helping Intel meet the needs of its customers all around the world, and why we continue to invest in our facilities and team here in Vietnam," said Kim Huat Ooi, vice president of Manufacturing and Operations and general manager of Intel Products Vietnam Co. Ltd.
Intel Products Vietnam is an important part of Intel's worldwide manufacturing presence. As Intel redefines its position in the industry from a CPU to a multi-architecture XPU company, IPV will continue to diversify and improve its local operations so that it can take on more complex technologies and new products to enable Intel to tap new market opportunities.
At the awarding ceremony of the Amended Investment Registration Certificate - Phase 1 Investment Expansion, Nguyen Anh Thi, president of Saigon Hi-Tech Park said, "We highly appreciate the expanded investment of Intel Vietnam, especially in the challenge of COVID pandemic, when most local and FDIs have been impacted. The increased investment decision from Intel means a great deal to us and proves Intel's great confidence in the local workforce and the stable investment environment in Vietnam, HCMC and SHTP, in particular. We will continuously provide our best support to Intel operations and look forward to welcoming more U.S. investors, and consider Intel's expansion and new investment in Vietnam, particularly in SHTP, as a great success story."
Intel's additional investment of US $475 million was made between June 2019 and December 2020, and helped enhance manufacturing of Intel's 5G products, Intel Core processors with Intel Hybrid Technology and 10th Gen Intel Core processors.
IPV is the largest assembly and test manufacturing facility in the Intel assembly and test network. It has more than 2,700 employees and serves customers around the world. IPV is one of 10 manufacturing sites that Intel has globally and remains the largest U.S. high-tech investment in Vietnam.
Actually 475 million dollars is a small amount of money, but the US dollar goes a little farther in Vietnam in my opinion.