Intel: Never committed to any new investment in Vietnam

Intel representative said that after 2021 when adjusting the capital level to 1.5 billion USD, they have not announced any new investments in Vietnam.

A day earlier, Reuters reported that Intel had scrapped plans to expand chip production in Vietnam, a plan that the company had reported in February was worth up to $1 billion.

Speaking to VnExpress on the morning of November 8, Intel Vietnam's media representative said: "After adjusting the capital increase to 1.5 billion USD in 2021, we have not officially announced any new investment."

To date, Intel has invested 1.5 billion USD in Vietnam. The representative of this unit affirmed that it is still committed to long-term investment here and "will invest more based on the business needs of the group".

Intel began operating in Vietnam in 2006 with a chip manufacturing and testing plant in Ho Chi Minh City Hi-Tech Park. After an additional investment of 475 million USD in early 2021, the group's total capital invested in Vietnam is now 1.5 billion USD. When increasing the capital, Mr. Kim Huat Ooi, Vice President of Manufacturing and Operations and General Director of Intel Products Vietnam (IPV) affirmed the importance of the factory in Vietnam in the group's production chain.

IPV is one of Intel’s 10 manufacturing sites worldwide. The facility has more than 2,800 employees and is the largest cleanroom assembly and test facility (ATM) in Intel’s global network. As of 2021, IPV has shipped more than three billion products to Intel customers worldwide after 15 years of operation.

In a meeting with Deputy Prime Minister Tran Luu Quang at the end of October, Intel and many other American businesses such as AES, Apple, Mastercard, KKR, JP Morgan, and Asia Group Advisor affirmed their continued long-term investment in Vietnam as committed.

Previously, in May 2022, during a meeting with Prime Minister Pham Minh Chinh, Intel CEO Patrick Gelsinger said that Vietnam is an attractive destination for investors with a dynamic economy and a potential market. The group will expand its investment with many times more capital in the new period.

Intel is also expanding its investment in chip packaging in Malaysia, one of Vietnam's main rivals in Southeast Asia.

Duc Minh

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