HCMC - U.S.-based Coherent Corp on July 28 inaugurated a semiconductor manufacturing plant worth US$127 million in the Nhon Trach 1 Industrial Park in the southern province of Dong Nai.

The plant specializes in the production of silicon carbide substrates, optics, and advanced optical components. It is located in Nhon Trach Commune. Speaking at the inauguration ceremony, Deputy Prime Minister Nguyen Chi Dung said the project marks an important step in Coherent’s global technology development strategy and reflects growing confidence among global technology corporations in Vietnam’s investment environment and growth potential. Vietnam is entering a period of strategic transformation as rapid advances in semiconductor technology, biotechnology, renewable energy, quantum computing, and big data reshape global value chains and economic structures, said Dung, emphasizing that the country must seize this opportunity to drive breakthrough development through science, technology, innovation, and digital transformation, with the goal of becoming a developed nation by 2045. To pursue these goals, Vietnam is implementing comprehensive solutions such as institutional reform, infrastructure development, enhancement of the innovation ecosystem, and accelerated technology adoption, while also prioritizing the selective attraction of foreign investment in high-tech industries, including semiconductors, artificial intelligence, research and development, clean energy, and projects that support digital and green transformation.