Intel, the world’s largest maker of computer chips, said Friday that it would more than triple its initial investment in Vietnam to $1 billion, greatly expanding the size of a chip assembly and testing plant that it is building here.
“It will be the model for larger, more efficient assembly and test facilities that will gain Intel greater efficiency and improve our ability to meet our customers’ requirement, making Intel even more competitive,” said Brian Krzanich, the company’s vice president and general manager for assembly and test.
Construction is expected to begin in March on what is to be Vietnam’s first semiconductor factory and Intel’s sixth testing center in Asia.
Krzanich said that production was expected to begin in the second half of 2009 and that Intel planned an eventual work force of 4,000.
Vietnam is expecting the plant to stimulate its fledgling high-technology industry and serve as a magnet for further investment.
The announcement Friday came the same week that the World Trade Organization offered membership to Vietnam and a week before Hanoi serves as host to the a summit meeting of the Asia-Pacific Economic Cooperation, which will draw leaders from 21 countries, including President George W. Bush.
“Vietnam, as an active member of APEC and of the WTO despite numerous difficulties ahead will try to create all favorable conditions for the investment environment,” the prime minister said in remarks prepared for delivery at a speech in Ho Chi Minh City.
VietNam is obviously learning from their oldest enemy, China, that the best way to move their nation ahead is through commerce. Is there a better process than simply doing long-term business with each other — to define what politicians call “diplomacy”?
Cheap labor = Investment from corporations.
I think that is just very cool to see a former nemesis join the high tech world. I understand Vietnam is one of the fastest, if not the fastest growing economies in the world.
The Vietnamese people are one the nicest and most polite people in the world. Congrats to Intel, congrats to Vietnam for mending fences.
Yep, the country has done quite well since we “cut and run” from there.
“….and that Intel planned an eventual workforce of 4000.”
Lessee, 4000 x .20 per day = SUCCESS !!!
Ok, I really think it’s pretty kool to see the guys over there getting some work. As has been said “if we can work together”..et al, ad nauseum..etc…etc…makes you wonder why we had to bomb the sh*t out of these guys so we could learn something usefull…wonder where this logic might take us now ?!? Gosh !! The possibilities !!
Where’d I put my hamburger ?!? Oh, yeah, Iraq…
Vietnam is an excellent template for the Bush administration in its future Iraq policy. Vietnam was an absolute disaster when the United States intervened in the country militarily. It was only after our withdrawal that Vietnam finally got on the road to their present prosperity. It seems the best course of action is to invade a country corporately. Better to make money than to squander it.
Capitalist nations don’t go to war. Too much money to lose.
#6 Capitalist nations don’t go to war. Too much money to lose.
Yeah, right… the U.S.A. never goes to war… 😀
Ummm you forgot the 3 million, yes 3 million, South Vietnamese who were murdered after the communist again invaded the south one year after signing a “Peace Treaty” with the US and SV.
Oh yes it was the Democratic Congress who cut off funds so the Army could come to their defense.
I expect the same thing will happen in Iraq.
Enjoy your cheap computer chips
#7 – Did I really have to add the words “modern” or “with each other” to that sentence for you to understand its meaning? Good lord…
#8.. Oh boy, what do we have here? A bleeding heart republican? Don’t need or want any more “good ideas” from your side anymore regarding Iraq, thank you. Your 1/2Trillion dollar investment, 3,000 soldiers dead, 20,000 crippled and 100’s of thousand dead Iraqi civilians is all we can stomach.
Regarding Vietnam, yeah, I’ll take my ‘cheap chips’ but also knowing those good people have a job and a future other than harvesting rice.
Why does the headline capitalize the ‘N’ in Vietnam?
Why does the headline capitalize the ‘N’ in Vietnam?
Because in the Vietnamese language, the country’s name is “Việt Nam”, two words. The word “Viet” is the name of the largest ethnic group in what is modern Vietnam. “Nam”, in this context, translates to “south”. So the name roughly means “Land of the Viet of the South (of China).”
“The name of the country comes from the Vietnamese Việt Nam, which is in turn a reordering of Nam Việt—the name of an ancient kingdom from the ancestral Vietnamese that covered much of today’s northern Vietnam and southern China”
Read this about the names Vietnam has been known as over the centuries:
http://vdict.com/Vi%E1%BB%87t%20Nam,2,0.html
Intel, New Mexicos largest industrial employer just announced layoffs in Albuquerque of at least 1500 managerial positions with another 4000 or so in question. I wonder where those jobs are going? Good for the Nam, not so good for America?
Whe are we going to start looking out after our own.