US firm Coherent plans high-tech investments in southern Vietnam

By Tri Duc
Wed, November 1, 2023 | 2:58 pm GMT+7

Coherent Corp., an American manufacturer of optical materials and semiconductors, plans to invest hundreds of millions of U.S. dollars in the southern province of Dong Nai.

Steve Rummel, senior vice president of engineered materials and laser optics at Coherent Corp., told provincial authorities at a Tuesday meeting that the company wants to develop high-tech projects in the areas of advanced optics, measurement and semiconductors in Dong Nai, with investment capital of hundreds of millions of U.S dollars.

Coherent will lease 7.6 hectares in Nhon Trach 1 and Nhon Trach 2 industrial parks to implement the projects, according to the Dong Nai Industrial Zones Authority.

Coherent Corp senior vice president Steve Rummel (fourth, left) and Nguyen Hong Linh, Secretary of the Dong Nai Party Committee, meet in the province, southern Vietnam, October 31, 2023. Photo courtesy of Dong Nai newspaper.

Coherent Corp senior vice president Steve Rummel (fourth, left) and Nguyen Hong Linh, Secretary of the Dong Nai Party Committee, meet in the province, southern Vietnam, October 31, 2023. Photo courtesy of Dong Nai newspaper.

Coherent now runs 126 factories across the globe and is a key supplier to many global tech giants. In Vietnam, the firm has been making investments since 2005 and runs projects at the VSIP I Industrial Park in the southern province of Binh Duong and Yen Phong Industrial Park in the northern province of Bac Ninh.

Nguyen Hong Linh, chief of the Dong Nai Party Committee, said the projects aligned with the province’s policy of attracting high-tech investments and that local authorities would facilitate their progress.

Dong Nai Vice Chairwoman Nguyen Thi Hoang directed relevant agencies to support Coherent in procedures and training to meet the high-tech projects' labor demand.

Comments (0)
  • Read More
Vietnam PM urges Russia's Rosatom to help with nuclear power development

Vietnam PM urges Russia's Rosatom to help with nuclear power development

Vietnamese Prime Minister Pham Minh Chinh urged Russia’s State Atomic Energy Corporation Rosatom (Rosatom) to help the Southeast Asian nation with nuclear power development.

Energy - Tue, January 14, 2025 | 10:15 am GMT+7

Vietnam's cashew nut exports hit record high in 2024

Vietnam's cashew nut exports hit record high in 2024

Vietnam's cashew nut exports in 2024 hit $4.37 billion, up 20.2% year-on-year, surpassing the previous record of $3.63 billion set in 2021, according to the General Department of Customs.

Economy - Tue, January 14, 2025 | 8:48 am GMT+7

Thailand to set up negative income tax system

Thailand to set up negative income tax system

A tax reform committee has been set by the Finance Ministry of Thailand to study the implementation of a negative income tax (NIT) system.

Southeast Asia - Tue, January 14, 2025 | 8:23 am GMT+7

Thailand expands FTAs to boost global competitiveness

Thailand expands FTAs to boost global competitiveness

Thailand is intensifying efforts to expand its free trade agreements (FTAs) as a core strategy to boost economic growth and enhance its competitiveness in global markets.

Southeast Asia - Mon, January 13, 2025 | 10:22 pm GMT+7

Vietnam's real estate landscape in Q4/2024

Vietnam's real estate landscape in Q4/2024

Avison Young Vietnam analysts offer an insight into the developments in Vietnam's key real estate segments in Q4/2024 and forecast for 2025.

Real Estate - Mon, January 13, 2025 | 9:35 pm GMT+7

Economic diplomacy forms important pillar of Indonesia’s foreign policy in 2025

Economic diplomacy forms important pillar of Indonesia’s foreign policy in 2025

Indonesian Foreign Minister Sugiono has positioned economic diplomacy at the forefront of the nation's international engagement strategy.

Southeast Asia - Mon, January 13, 2025 | 8:20 pm GMT+7

Thailand's cosmetics market projected to grow 11% in 2025

Thailand's cosmetics market projected to grow 11% in 2025

The cosmetics and skincare market in Thailand is set for significant growth, with projections of a 9.5-10% increase in 2024 and an acceleration to 11% growth in 2025.

Southeast Asia - Mon, January 13, 2025 | 8:14 pm GMT+7

Indonesia sets coal production record amid rising energy demand

Indonesia sets coal production record amid rising energy demand

Indonesia's coal production reached a new high in 2024 amid soaring domestic and global energy demand.

Southeast Asia - Mon, January 13, 2025 | 8:11 pm GMT+7

Japan announces Indonesian projects worth $815 mln

Japan announces Indonesian projects worth $815 mln

Japanese Prime Minister Ishiba Shigeru announced a set of projects worth a total of JPY129 billion ($815 million) in Indonesia during his meeting with President Prabowo Subianto on Saturday.

Southeast Asia - Mon, January 13, 2025 | 8:10 pm GMT+7

Domestic consumption, public investment to drive Vietnam's 2025 GDP growth: Dragon Capital exec

Domestic consumption, public investment to drive Vietnam's 2025 GDP growth: Dragon Capital exec

Domestic consumption and public investment will be the primary drivers of Vietnam's GDP growth this year, says Le Anh Tuan, head of investment at Dragon Capital Group.

Economy - Mon, January 13, 2025 | 6:14 pm GMT+7

Southern Vietnam province drafts 10 MWt nuclear reactor plan

Southern Vietnam province drafts 10 MWt nuclear reactor plan

Vietnam’s southern province of Dong Nai is drafting a 1-to-500 ratio masterplan for a nuclear technology research center, with a 10-MWt nuclear reactor.

Energy - Mon, January 13, 2025 | 4:56 pm GMT+7

Major publisher donates books to Vietnamese community in northeastern Thailand

Major publisher donates books to Vietnamese community in northeastern Thailand

Vietnam Education Publishing House (VEPH) held an event in Hanoi on Friday to donate Vietnamese-language books to the Vietnamese community in northeastern Thailand through the Consulate General of Vietnam in Khon Kaen.

Companies - Mon, January 13, 2025 | 4:21 pm GMT+7

Ex-lawmaker Luu Binh Nhuong sentenced to 13 years in prison

Ex-lawmaker Luu Binh Nhuong sentenced to 13 years in prison

Luu Binh Nhuong, former vice head of the Vietnamese parliament’s Ombudsman Committee, has been sentenced by a first instance court to 13 years in prison for appropriating property and abusing positions and power to influence others for personal gains.

Society - Mon, January 13, 2025 | 3:52 pm GMT+7

Vietnam’s auto sales up 12.6% in 2024 to 340,142, VinFast biggest seller

Vietnam’s auto sales up 12.6% in 2024 to 340,142, VinFast biggest seller

Members of the Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 340,142 units in 2024, up 12.6% year-on-year.

Companies - Mon, January 13, 2025 | 3:34 pm GMT+7

Vietnam banking sector shows positive outlook for 2025: VinaCapital

Vietnam banking sector shows positive outlook for 2025: VinaCapital

Vietnamese bank stocks significantly outperformed the VN-Index in 2024, and strong performance is expected this year, given the low valuation of bank stocks (1.3x P/B vs 16% ROE), write chief economist Michael Kokalari and senior bank analyst Thuy Anh Nguyen at VinaCapital.

Banking - Mon, January 13, 2025 | 2:20 pm GMT+7

Vietnam's key export sectors to benefit from rising USD/VND exchange rate

Vietnam's key export sectors to benefit from rising USD/VND exchange rate

Vietnam’s export sectors such as seafood, chemicals, oil and gas, plastics, textiles, wood, and tires are expected to benefit from the rising price of USD, according to securities brokers.

Finance - Mon, January 13, 2025 | 12:57 pm GMT+7