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Intel invests US$300 million into Vietnamese ICT

Intel's decision to invest US$300 million to build a semiconductor chip assembly and test manufacturing (ATM) factory in Ho Chi Minh City is set to inspire a new wave of foreign investment in Vietnam' s information and communication technology (ICT) sector.

Intel Vietnam General Director Than Trong Phuc is confident that Intel's move reflects the aspirations of the world's IT community. The project will also have significant effects on other transnational ICT corporate business strategies in the local market. In Than Trong Phuc's opinion: "With a growing trend towards an expanding market, transnational ICT companies will seek destinations for their investment that meet their demands and strategies. Among Asian countries, China and India have registered strong ICT development. However, most transnational companies share the same formula of investment, ie, China and India plus one other destination in order to minimise business risks."

Intel's decision to invest in Vietnam will promote Vietnam as a good location for that remaining position next. Vietnam is accepted by several analysts as an attractive new destination for transnational ICT firms. The country has a fast-growing and stable economy, a geographically strategic position, cheap labour costs, a young workforce and positive development prospects.

Than Trong Phuc is advocating that his country should develop ICT infrastructure and improve its legal system as regards to ICT investment and development. Vietnam must also enhance personnel training so as to meet the domestic market's increasing labour demand.

 

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