Intel chips in to record growth

18:01 | 27/02/2006
A $605-million project committed by the world’s largest microchip maker, Intel Corp, has given a big boost to Vietnam’s investment figures in the first two months of the year, helping the country register a record 15 per cent year-on-year increase in pledged capital.

Intel’s project, Vietnam’s biggest hi-tech project so far, accounts for more than half of the country’s total registered foreign investment capital during the first two months, and 79 per cent of the country’s registered foreign investment capital in February.
The microchip maker will build a plant to produce chips and computer parts for export over an area of 44.6 hectares in the Saigon Hi-Tech Park in Ho Chi Minh City.
The country licensed 113 projects with total registered capital of $1.1billion in the first two months of the year, with a 16 per cent increase in number of projects compared to the same period in 2005.
Other large projects licensed at the same time include a $300m property project to develop a 270ha area west of Hanoi’s West Lake, turning it into a modern residential, commercial and office area.
The Ministry of Planning and Investment (MPI) also granted a licence to Japan’s Brother Industries to produce laser printers in northern Hai Duong province.
During the period, the number of projects seeking for capital increases was up 41 per cent year-on-year. However, the increased capital only rose 9 per cent, standing at $135 million.
Contrary to the registered foreign investment capital increase, capital disbursement of foreign-invested projects was slow, with a decrease of more than 28 per cent compared to the same period last year.
According to the latest figures from the MPI, foreign investors committed $6.3bn in investment capital in the country last year, up $500m from the initial figure released by the ministry late last year. Disbursed capital stood at $3.4bn compared with the preliminary figure of $3bn.

No. 750/February 27-March 5, 2006

By Van Anh

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