Sources say Intel has shelved its investment plan in Vietnam and its chip business expansion has been suspended

According to news on November 7, Reuters reported that Intel has given up its investment plan in Vietnam. The investment plan could have doubled the size of the U.S. chipmaker's operations in Vietnam, hitting Vietnam's growing chip industry

Intel's world's largest chip assembly, packaging and testing factory is located in Southeast Asia Electronics Manufacturing Center. Especially after the US President announced his support for the country's chip industry during his visit to Vietnam in September, Vietnam has been expecting Intel to further expand its local business

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But not long after visiting Vietnam, the United States informed Intel that it had shelved its investment expansion plan. The source, who spoke on condition of anonymity, added that Intel made the decision around July.

Intel canceled its expansion plans but did not explain why. However, a source revealed that the company was involved in two separate meetings between U.S. companies and senior Vietnamese officials in recent weeks, raising concerns about power supply stability and excessive bureaucracy. When asked about the plan, he declined to comment, telling Reuters only: "As demand for semiconductors grows, Vietnam will continue to be an important part of our global manufacturing operations."

It is said that Intel is in 6 The decision comes after large-scale investments were announced in Europe in June, while Vietnam also suffered massive power outages in June, forcing many manufacturers to temporarily suspend production. In addition, Intel has expanded chip packaging investments in Malaysia, one of Vietnam's main competitors in Southeast Asia.

During the US President’s visit to Vietnam, the White House announced investments by a number of US chip companies, including Amkor, Synopsys and Marvell, but did not mention Intel

Intel plans to invest approximately 1 billion in Vietnam US dollars (approximately 7.28 billion yuan) in new investment to promote the development of its US$1.5 billion factory in Vietnam. According to a Reuters report in February this year, when asked about possible investment plans, Intel responded: "Vietnam is an important part of our global manufacturing network, but we have not announced any new investments."

In addition, the Vietnamese government’s official portal also mentioned Intel’s plan for additional investment of US$3.3 billion (currently approximately 24.024 billion yuan), but later deleted this content.

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