Foreign media The Register reported that the Vietnamese government seemed too hasty in announcing Intel’s possible investment of US$3.3 billion.
The Vietnamese government reported on the 7th that foreign direct investment (FDI) in Ho Chi Minh City will reach US$7.4 billion in 2023. City official Pham Tuan Anh said the figure depends on the success of the multibillion-dollar deal with Chipzilla, as well as socio-economic stability and inflation.
But the next morning, the original mention of Intel on the website disappeared, and the total foreign direct investment fell to between $4.1 billion and $4.5 billion. But the website of the Central Economic Commission still has a photo of Intel’s Ho Chi Minh factory.
In addition, news and materials on US$7.4 billion and Intel’s involvement can still be found on Vietnamese news sites. Intel only responded that “Vietnam is an important part of the global manufacturing network, but we have not announced any new investments.”
Intel’s factory is located in Saigon Hi-Tech Park, and started production in 2010. It is Intel’s largest chip packaging plant with an investment of US$1.5 billion.
“Bloomberg” reported that Intel had talks with government officials on an investment of US$3.3 billion, saying that it would use the investment for the Saigon Hi-Tech Park facility.
As technology companies seek to diversify their supply chains, Vietnam has become one of the new production bases. Intel is one of the most famous technology companies investing in Vietnam. Like Samsung, another technology giant, it is often used by the Vietnamese government as a case of foreign investment.
(First image source: Intel )