Vietnam's ambitions to mirror the economic success of its neighbours have been given a boost after Intel said it will triple investment in the country. The world's largest chipmaker, Intel, will invest $1bn (£522m) building two production plants in a science park outside of Ho Chi Minh City.
In February, Intel said it would spend $300m to develop a single plant. At the time, Intel's commitment to the fast-growing nation was the biggest investment by a US firm in Vietnam.
Intel's chip assembly and testing plant is Vietnam's first semiconductor facility and the Hanoi government hopes it will attract more high-tech businesses to the country. The first phase of Intel's plant was scheduled to employ 1,200 people, but the expanded site should create up to 4,000 jobs.
| Very interesting. Makes you wonder what's going on behind the scenes with us and the Vietnamese government, and makes you wonder if they, like the Chinese, will end up Communist in name only. Still doesn't bring back the million plus they killed after the war. |
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