Leading global tech supplier Coherent plans to expand investment in HCMC

U.S.-based tech giant Coherent, a supplier to Nvidia, Google and Meta, is considering Ho Chi Minh City as a priority destination for expanding its investments in semiconductors, AI and other high-tech industries.

The plan was announced by Jeff Place, Coherent's chief supply chain officer, during a meeting on Monday with Nguyen Van Duoc, Chairman of the HCMC People's Committee.

Jeff Place said Vietnam is playing an increasingly important role in Coherent's global supply chain strategy and that the company intends to expand its investments in the country, including in HCMC, Vietnam's largest economic hub.

Coherent also plans to strengthen partnerships with universities in the city to help develop a highly skilled workforce for the semiconductor and advanced technology industries, he added.

In response, Duoc said he welcomed Coherent's expansion plans, noting that the company's focus on semiconductors, AI and other high-tech sectors aligns with both the Vietnamese government's and HCMC's priorities in science, technology, innovation and digital transformation.

He reaffirmed the city's commitment to providing favorable conditions, including technology infrastructure, industrial land and a supportive investment environment, to facilitate Coherent's future projects.

Human capital is critical to the long-term development of the high-tech sector, Duoc said, stressing that HCMC has a strong talent pipeline through institutions such as Vietnam National University Ho Chi Minh City, numerous engineering and technical institutions, and well-established semiconductor alliances.

He encouraged Coherent to work with local institutions to develop specialized training programs and promote technology transfer, helping build the skilled workforce needed to support the rapid growth of high-tech manufacturing.

The ciy chairman described the delegation's visit as an important milestone that marks the beginning of a long-term partnership between Coherent and HCMC.

HCMC highly values foreign direct investment, particularly from leading technology companies, and remains committed to maintaining a transparent efficient, and business-friendly investment climate that supports sustainable business growth, he added.

Coherent Corp. (Nasdaq: COHR) is a leading global supplier of lasers, optoelectronic components, and engineered materials used in data communications, industrial manufacturing, consumer electronics, and aerospace.

It supplies components, materials, and technology platforms to major technology companies, including Nvidia, Meta and Google, supporting AI infrastructure and cloud computing.

Headquartered in the U.S., Coherent operates in more than 20 countries. The company has a market capitalization of about $74-82 billion.

Its valuation has risen sharply in recent years, fueled by booming demand for AI data center infrastructure, strategic optical networking partnerships, and a $2 billion equity investment from Nvidia.

For fiscal 2025, Coherent reported revenue of approximately $5.8 billion and employed between 30,000 and 60,000 people worldwide across its manufacturing and production network.

The firm has operated in Vietnam for more than two decades and considers the country a strategic part of its global semiconductor supply chain. The company currently has manufacturing facilities in HCMC, Dong Nai city and Bac Ninh province.

In late June, Coherent further expanded its footprint in Vietnam by leasing an additional 30,000 square meters of ready-built factory space at KTG Industrial Nhon Trach 2 in Dong Nai.

The project marks the company's second facility in the southern province and expands its manufacturing capacity to support the global high-tech supply chain.