The Ministry of Finance commits to support Intel

The Ministry of Finance commits to support Intel

In a significant move to boost the high-tech sector, the Ministry of Finance (MoF) has pledged strong support for Intel’s projects in Vietnam, signalling hopes for the US firm to increase its investments in the country.

This is according to Deputy Minister of Finance Nguyen Thi Bich Ngoc at a meeting with representatives from Intel Corporation on April 2, led by Sarah Kemp, vice president in charge of International Government Relations.

"The ministry is committed to providing the maximum support for Intel’s high-tech projects in Vietnam. The ministry also supports Intel’s collaborations and assistance in innovation, entrepreneurship, and the promotion of semiconductor technology and AI," said Ngoc.

"The Foreign Investment Agency has been assigned as the focal point to guide investment procedures and the National Innovation Centre as the coordinator to work with Intel in implementing initiatives and activities to encourage the innovation ecosystem in Vietnam," she added.

Kemp provided updates on Intel's operations in Vietnam and its collaborations and support for the NIC in 2025 and spoke highly of the government's recent policies, such as the Investment Support Fund.

"We greatly appreciate the recent government policies, such as the Investment Support Fund, which includes several provisions to assist businesses in the high-tech sector. We expect to study these policies further to implement specific ventures," said Kemp.

Intel Vietnam was established in 2006 and has invested in and built a local supply network with over 600 partners. It has invested more than $1.5 billion in Vietnam and continues to expand its investment by upgrading factories and applying new technology.

Intel Vietnam plays a significant role in the group's global value chain, and to date, the US tech giant has invested $1.5 billion here, with between 60-and-70 per cent of Intel's semiconductor products sold globally assembled, tested, and packaged in Vietnam.

VIR