HCL to invest $650 million in Ho Chi Minh City IT centre

May 21, 2019 | 18:21

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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.

hcl to invest 650 million in ho chi minh city it centre

Vice Chairman of the Ho Chi Minh City People’s Committee Tran Vinh Tuyen (right) and Sanjay Gupta, deputy chairman cum strategy director of HCL

On May 17, at a meeting with the vice chairman of the Ho Chi Minh City People’s Committee Tran Vinh Tuyen, HCL deputy chairman cum strategy director Sanjay Gupta said that the company is looking to develop the project within the next five years.

Being one of the three largest IT companies in India, HCL earn 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.

“In the last one year, the group studied the Vietnamese economy and the country's investment attraction policies and saw that Vietnam has numerous factors that are favourable for HCL. Especially, Ho Chi Minh City is the centre of education in the country, which is a supply source for skilled human resources,” said Sanjay Gupta.

He added that it is expected to kick off the project in the fourth quarter of this year.

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 centres, 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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