Intel will invest US$605 million in the HCM City Hi-tech Zone to build a factory to produce chips and computers’ components, according to the Foreign Investment Department under the Ministry of Planning and Investment (MPI) on January 4.

In an interview granted to the Tuoi Tre (Youth) newspaper, head of the MPI's foreign investment department Phan Huu Thang said Intel’s investment in Vietnam aims to lure more foreign investment into the country in early 2006.

The factory will operate for 50 years and is expected to generate around 2,000 jobs.