The announcement confirmed rumors during that past few weeks that Intel was planning to become the first chip company to set up operations in the country.
Santa Clara, California-based Intel said construction of its forthcoming facility in Ho Chi Minh City would begin immediately.
When built, the facility will become Intel’s seventh assembly site and is projected to eventually employ about 1,200 workers.
We applaud the progress the country has made in building up their technology infrastructure and the support of education programs to advance the capabilities of the local workforce, said Intel chairman Craig Barrett, in a statement.
Intel, the world’s largest chipmaker, also has sites in Malaysia, Philippines, China and Costa Rica.
The new facility is part of Intel’s global expansion of production capacity. By the end of the year, the company plans to invest more than $6bn worldwide for capital additions.
