BUENOS AIRES, Argentina (Reuters) - Intel, the world's largest microchip maker, signed a letter of understanding with Argentina on Monday to open a software development centre in the South American nation next year.
The company did not specify how much money it would invest in the project, but it did say in a statement that the centre would employ some 400 people within five years.
Located in the central province of Cordoba, this facility would form part of the company's network in the United States, China and Russia.
"The strategic plan for this industry, the Software Law and growing investment in education and research and development have made the country a very attractive place for locating this development centre," said Esteban Galuzzi, Intel's general manager in the Southern Cone.
The software law, which went into effect this year, offers tax benefits to technology companies.
Galuzzi was joined by Intel board chairman Craig Barrett and Argentina's Economy Minister Roberto Lavagna.
Intel intends to develop software in Argentina
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