Sunday , May 19 2024

HCMC eyes $3.3B investment by Intel

Ho Chi Minh City expects to attract an investment of US$3.3 billion in a new project from Intel though the U.S. tech giant has not disclosed any details.

Pham Tuan Anh, deputy head of the city Department of Planning and Investment’s Foreign Economic Relations Office, said attracting FDI would be difficult this year, but the Intel project would bring it to $7.4 billion.

But Intel said in a statement to Bloomberg: “Vietnam is an important part of our global manufacturing network, but we have not announced any new investments.”

The company already has a chip assembly and test manufacturing facility in HCMC.

In 2021 it had invested $475 million in Intel Products Vietnam to take its total investment in the country to $1.5 billion.

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