Intel's Vietnam factory helps the company overcome a lack of semiconductors.

According to a top company executive, Vietnam's strong economic environment and young labor force have aided Intel in overcoming the semiconductor scarcity situation.

In an interview with VnExpress, Steve Long, general manager of Asia Pacific and Japan, said that the country's stable sociopolitical environment, increasingly liberalized trade and investment policies, and a young and talented workforce are some of the reasons why Vietnam has become attractive to multinationals, particularly tech companies like Intel.

Vietnam has the infrastructure and policies in place to support advanced manufacturing, he said, adding that Intel's presence helps put Vietnam on the map of high-tech nations.

In Intel's global production network, Intel Products Vietnam (IPV) is the company's largest assembly and test facility.

This is the largest US high-tech company in Vietnam, with 2,800 people and a $1.5 billion investment.

After 15 years of business, IPV has delivered over three billion products to clients around the world as of 2021.

According to Kim Huat Ooi, vice president of production and operations and general manager of IPV, Intel professionals in Vietnam have developed a new initiative to make semiconductor manufacturing 80 percent faster.

This project enables the factory to create millions of additional chips each year, allowing Intel to raise its profit by more than $2 billion, he noted.

Source: VnExpress