Chip giant Intel and buyout firm Texas Pacific Group are investing $36.5 million in Vietnam’s largest software company, FPT.
Here is a good summary of the investment in today’s Mercury News. FPT offers a range of services, including back-end computing services, telecommunications and outsourcing to Japanese companies.
The investment reflects a growing confidence in the Vietnamese economy, which reported economic growth of 8.4 percent last year. Vietnam’s tech market, estimated to be valued at $800 million, is growing at about 20 percent a year.
Earlier this year, Intel announced plans to build a $300 million chip assembly and testing factory in Vietnam’s commercial capital, Ho Chi Minh City. Microsoft Chairman Bill Gates paid a recent visit to the Southeast Asian country.