US chipmaker Intel Corp’s decision to invest in Vietnam is a golden guaranty stamp, confirming Vietnam as an investment area of international standards, says president of the American Chamber of Commerce in HCM City Walter Blocker
US
chipmaker Intel Corp’s decision to invest in Vietnam is a golden guaranty stamp, confirming Vietnam as an investment area of international standards, says president of the American Chamber of Commerce in HCM City Walter Blocker.
On February 28, the world’s number one chipmaker Intel was officially licensed to build a plant to produce computer chips and components at Ho Chi Minh City’s Hi-tech Zone with total investment capital of US$605 million.
At an earlier meeting with Chairman of the HCM City People’s Committee Le Thanh Hai on February 27, Intel Corp President Craig R. Barrett said that this was an important event for Vietnam and Southeast Asia as well, opening up good opportunities for Intel Corp and other companies to expand their business operations.
Apart from the project to produce computer chips and components, Intel will consider other investment areas in HCM City such as education and information technology (IT) application.
In reply to the Vietnamese media, Mr Craig said his corp’s decision was based on key elements including labor quality, Government support, investment cost, infrastructure facilities and community attention. More importantly, the Vietnamese economy is experiencing rapid growth, which has been maintained for many years, Mr Craig noted.
Mr Craig said that Vietnam plays an important role in Intel’s strategy. Vietnam is allocated in the centre of Asia, which is developing rapidly. In addition, the country has a large population with a level of education and many Government-funded projects.
On the occasion, AFP press agency ran an article noting that Vietnam won Intel’s vote of confidence. According to AFP, the US$605-million investment project undertaken by Intel, the largest chipmaker in the US will provide strong impetus for Vietnam’s economic development. It is one of the largest US projects in Vietnam so far. The press agency also quoted Mr Blocker as saying Intel’s decision to invest in Vietnam stemmed from the fact that Vietnam is a leading global investment destination.
The article said that the world’s largest chipmaker has selected Vietnam, which recorded an annual growth rate of 7-8 percent, as its new investment destination. This will encourage other investors to invest in Vietnam, particularly in the IT sector. Accordingly, software and hardware producers will further consider opportunities offered by Vietnam.
(Source: VOV)
