US tech firm Coherent opens new plant in Đồng Nai

US tech firm Coherent opens new plant in Đồng Nai

US technology company Coherent on Monday morning officially opened a new manufacturing facility in Nhơn Trạch Industrial Park, marking a major step forward in its global strategy as well as presenting a clear example of the growing confidence of global tech corporations in Việt Nam’s investment environment and potential.

The opening ceremony of Coherent's new plant in Nhơn Trạch Industrial Park, Đồng Nai Province. — Photo baochinhphu.vn

US technology company Coherent on Monday morning officially opened a new manufacturing facility in Đồng Nai Province's Nhơn Trạch Industrial Park, marking a major step forward in its global strategy as well as presenting a clear example of the growing confidence of global tech corporations in Việt Nam’s investment environment and potential.

Coherent Executive Vice President Garay Kapusta said that the new plant expands the company’s presence in Việt Nam, which started more than a decade ago at VSIP1 Industrial Park in the former Bình Dương Province. The company now has a service centre in Hà Nội and employs more than 2,000 workers in Việt Nam.

Việt Nam plays a key role in Coherent's global production, especially in product development and innovations in photonics and semiconductors, he added.

Speaking at the inauguration ceremony, Deputy Prime Minister Nguyễn Chí Dũng said that the projects align with Việt Nam’s development strategies, as the country is pushing towards developing high-tech sectors such as semiconductors, artificial intelligence, and clean energy. 

“Coherent will help Việt Nam become an important link in the global semiconductor supply chain,” he said.

Coherent’s new plant presents an achievement for Việt Nam’s efforts to attract investment in strategic technology industries, especially semiconductors and high technology.

Việt Nam ranked 44th out of 133 economies in the Global Innovation Index 2024, moving up two places from 2023. It remains the only country with innovation performance consistently above its overall development level for the past 14 years, he noted.

"Việt Nam is becoming a strategic base for leading global tech firms like NVIDIA, Apple, Google, Qualcomm, Amkor, Marvell, Intel, Meta and now Coherent," Dũng said.

Coherent’s new plant is expected to create thousands of skilled and high-quality jobs. It will supply components for major AI and big data firms globally, contributing to enhancing Việt Nam’s value in the global tech supply chain.

The deputy PM also called on Coherent to consider establishing research and development centres, labs and pilot operations in Việt Nam’s innovation hubs, including the National Innovation Centre and national high-tech zones, where more flexible regulatory and investment incentives are in place. 

Dũng also urged Coherent to further expand its in-depth investment in Việt Nam, especially in stages with higher added value in the semiconductor industry value chain. He urged the company to consider training and employing skilled workers in Việt Nam, while strengthening connections with research institutes and universities to form a comprehensive and sustainable innovation ecosystem.

Đồng Nai Province authorities were urged to focus on improving infrastructure, streamlining administrative procedures, speeding up digital transformation and ensuring a transparent and stable investment climate to unlock its development potential following its merger with Bình Phước.

The deputy PM reaffirmed the commitment to create a favourable investment environment for both domestic and foreign investors to do business in Việt Nam.

At the event, a memorandum of understanding was signed between the Việt Nam National Innovation Centre, Việt Nam National University-HCMC and Coherent for a five-year period ending in 2030. 

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