Intel Corp has announced that it plans to invest an additional $475 million USD in its plant in Vietnam to improve technologies and boost production of its 5G products and core processors. The additional investment will expand Intel’s investments into Vietnam to approximately $1.5 billion USD.
Kim Huat Oo, Intel Vietnam’s General Manager commented on the company’s new investment and said that the decision to invest more in facilities and human resources in Vietnam reflected the company’s belief that “Intel Products Vietnam is an important part in Intel’s supply chain.”
Due to the fact that Vietnam has been one of the most effective countries in the world at containing the COVID-19 virus, and the impact of a Sino-U.S. trade war, the country has become an increasingly crucial part of the global technology supply chain, with companies such as Apple and Samsung seeking to diversify their production in order to minimize disruptions to its supply chain. Vietnam also has abundant human resources that Intel and other global companies can tap into, with more than 40,000 students each year graduating with IT and technology degrees.