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Intel invests additional $475 million in Vietnam plant

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·1 min read
FILE PHOTO: U.S. chipmaker Intel Corp's logo is seen on their "smart building" in Petah Tikva, near Tel Aviv
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HANOI (Reuters) - Intel Corp has invested an additional $475 million in its plant in Vietnam to improve technologies and boost production of its 5G products and core processors, the U.S. chipmaker's local unit said in a statement on Wednesday.

The move takes Intel's total investments in Vietnam to around $1.5 billion, it said.

"Intel Products Vietnam is an important part in Intel's supply chain," general manager Kim Huat Ooi said, explaining the decision to invest more in facilities and human resources in Vietnam.

Vietnam has become an increasingly crucial part of the global technology supply chain, with companies such as Apple and Samsung seeking to diversify their production to minimise the impact of a Sino-U.S. trade war and after the Southeast Asian country has been able to contain the spread of the coronavirus so far.

(Reporting by Phuong Nguyen; Editing by Ed Davies)