The US-based company Jabil will expand its operation in the city's High-tech Park with an infusion of US$500 million. — Photo sggp

HCM CITY (Biz Hub) — The HCM City People's Committee has given approval to US-based company Jabil to expand its operation in the city's High-tech Park with an infusion of US$500 million.

The approval was given during the ongoing visit to the US of Politburo member and city Party Committee Secretary Le Thanh Hai.

"With the current successes of Jabil Viet Nam, we plan to [set up] a 93,000sq.m plant to produce computers, database, network and applied telecommunications," Alessandro Parimbelli, Jabil's senior vice president, global business unit, was quoted as saying by the Government website.

Jabil will also focus on technology and training for local human resources, using modern machinery, providing overseas training for staff, using local components in production and developing local supply chains.

"HCM City authorities will continue to create the most favourable conditions and provide every support to Jabil," Hai promised.

The company's fresh investment showed its belief in the city's business environment and contributed to the growth of the city.

Jabil, the world's third largest electronics corporation, has been operating at the High Tech Park since 2007. Its turnover in Viet Nam expanded by 50 per cent for five straight years and its aggregate exports since coming here have topped $1.3 billion.

Its plant hires 2,600 workers.

On the same day the city People's Committee signed a memorandum of understanding with chipmaker Intel for training human resources in high technology and development co-operation.

Intel was one of the first international corporations to come to Viet Nam and it has made large, long-term investments in the country.

Brian Matthew Krzanich, chief executive officer of Intel, received the city delegation.

He called on the city's leaders to help Intel train human resources in high technology, develop supporting industries to increase the rate of its use of local components in its products, and allow Intel to import secondhand equipment into the city.

City Party Committee Secretary Le Thanh Hai promised that "city leaders will soon meet with Intel to find long-term solutions for such problems." — VNS