Intel Wins Vietnam License for Chip Plant

Vietnam has approved the issue of a license to Intel Corp, the world's largest microchip maker, to build a $605 million plant to produce chips and computer parts in a deal that officials hope could help draw more investors.

Intel said in an invitation to Reuters on Thursday that the license would be handed over formally at a ceremony in Ho Chi Minh City on February 28. Intel chairman Craig Barrett would introduce the project and receive the investment license, Intel said without elaborating. A source close to the deal said the Intel unit in Hong Kong would run the $605-million project, which will make Intel Vietnam's first major foreign investor in the high technology field.

News source: Reuters

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