Intel will earmark $600 million to build a chip assembly factory in Ho Chi Minh City, the biggest ever investment project in Vietnam's history.

The Ministry of Planning and Investment of Vietnam has ratified Intel's investment plan, and Intel said the government's document will be disclosed next week.

An official with the Ministry of Science, Technology and Environment said Intel's investment will help the growth of the information Industry of the country. He welcomes foreign investments in information industry in Vietnam.

Many foreign electronic manufacturers, including Sony and Samsung, have settled down in Vietnam.

In 2005, Vietnam registered FDI of $5 billion, the biggest sum in past eight years. Its export of PCs and electronic products soared 34 percent to reach $1.44 billion.

By People's Daily Online