Vietnam gives Intel nod to invest $1 bln total

HO CHI MINH CITY, Nov 10 (Reuters) Communist-run Vietnam handed Intel Corp., the world's largest chipmaker, a licence to treble its investment there to $1 billion, a week before U.S. President George W. Bush is due to visit.

In February the California-based firm announced it would put $300 million in Vietnam to package and test microchips that power computers and mobile phones, the biggest investment in the country by a U.S. company.

Next week, Vietnam's thriving economy will be on show when Hanoi hosts the Asia-Pacific Economic Cooperation leaders' week and hundreds of company executives.

Pham Chanh Truc, chairman of the Saigon High-Tech Park management board, handed the licence to Rick Howarth, general manager of Intel Products Vietnam, on Friday at a ceremony in Ho Chi Minh City, Vietnam's commercial centre.

REUTERS SBA PM1751