Asian Tech Press (Dec 16) -- Intel CEO Patrick P. Gelsinger said the company will invest 30 billion ringgit (about US$7.1 billion) in Malaysia over a decade to build new assembly and test facilities, according to Reuters.

Gelsinger said the advanced packaging facility in Malaysia is expected to begin production in 2024.

The Malaysian government said that the investment is expected to create more than 4,000 Intel jobs and more than 5,000 construction jobs in the country. In a statement, Malaysia's International Trade and Industry Minister Mohamed Azmin Ali said, "This project is indeed timely given the growth in global demand driven by chip shortages and the potential challenges posed by the global recovery from the epidemic."