India’s tech giant invests $650 million to an IT centre in Ho Chi Minh City

Hindustan Computers Limited (HCL), one of three largest IT companies in India, expressed its interest in developing an IT centre in Ho Chi Minh City with the total investment capital of $650 million, and generating 10,000 engineering jobs.

“We are looking to develop the project within the next five years. Last year, the we studied the Vietnamese economy and the country’s investment attraction policies and found that Vietnam has numerous factors that are favorable for HCL. Especially, Ho Chi Minh City, the centre of education in the country, which is a supply source for skilled human resources,” said Sanjay Gupta, deputy chairman cum strategy director of HCL at a meeting with the vice chairman of the Ho Chi Minh City People’s Committee on May 17.

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“We expect that it is expected to kick off the project in the fourth quarter of this year” Sanjay Gupta added.

As one of the three largest IT companies in India, HCL generates a revenue of $8.4 billion a year on average. If the project comes true, it will be a highlight of HCL’s overseas investment plan.

HCL is an Indian multinational IT service and consultancy company headquartered in Noida, Uttar Pradesh. It is a subsidiary of HCL Enterprise. Originally the R&D division, it emerged as an independent company in 1991 when HCL ventured into the software services business.

The company has offices in 44 countries, including the US, France, and Germany, and the UK with a worldwide network of R&D, innovation labs, and delivery centers, and 137,000 employees. HCL’s customers include 250 of the Fortune 500 and 650 of the Global 2,000 companies.

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