Intel abandons plan to expand chip production in Vietnam

Vietnam is home to Intel’s world’s largest chip assembly, packaging and testing plant, Reuters reported. US President Joe Biden announced deals to support Vietnam’s chip industry during a visit in September. But shortly after the visit, US officials informed a select group of US businesspeople and experts that Intel had shelved its expansion plans, Reuters reported, citing one of the people who attended the meeting. Intel made the decision around July, the unnamed source said.

Intel reportedly abandons investment to expand chip factory in Vietnam

Intel declined to comment but told Reuters that Vietnam will continue to be an important part of its global manufacturing operations as demand for semiconductors increases.

Intel's decision comes after it announced major investments in Europe in June. Intel is also expanding its investment in chip packaging in Malaysia.

During President Joe Biden's visit to Hanoi , the White House announced new initiatives and investments by chip companies including Amkor, Synopsys and Marvell, but did not mention Intel.

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