Intel settles down in Vietnam

March 13, 2006

Intel settles down in Vietnam

Associated Press

HO CHI MINH CITY, Vietnam — Intel Corp., the world’s largest chipmaker, announced plans Tuesday to build a $300 million chip assembly and testing factory in southern Vietnam, giving a huge boost to the country’s efforts to raise its high-tech profile.

The facility, which will be built in Ho Chi Minh City’s Saigon Hi-Tech Park, marks the single largest U.S. investment so far in its former wartime adversary. The deal is considered a significant one for Vietnam in its campaign to attract more foreign investors.

“We consider this to be one small step in a long journey of involvement with Vietnam,” said Intel Chairman Craig Barrett.

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