$1 bln. Intel chip factory to open this month

TN News

Email Print

Intel Corporation has announced its factory to test and assemble semi-conductors will open in Ho Chi Minh City by the end of this month.


The first large corporation making a high-tech investment in Vietnam has spent US$1 billion in building the new factory, construction of which begain in 2007.


The 500,000-square feet plant is expected to employ around 4,000 workers. This will be the seventh factory of its kind invested by Intel outside the US, with the others located in Malaysia, the Philippines, China and Costa Rica.


Navin Shenoy, Intel general director for the Asia-Pacific region, said the investment would help the corporation tap growth opportunities in the emerging Asian market.


"We expect Asia's PC market to continue to grow by more than 20 percent annually in the next few years. We definitely will continue to invest in Asia where we see growth," Shenoy told the Dow Jones Newswire in a recent interview.


He said the US and European consumer markets have showed weak sentiments while  "Asia has a young population and a low PC penetration rate. China, India, and Southeast Asian countries like Indonesia and Vietnam are important markets."


Intel reported more than $11 billion in quarterly revenues in the third quarter, and 58 percent or $6.40 billion of this came from the Asia-Pacific region, a 20 percent increase from $5.32 billion the same period last year.

More Business News