Vietnam Courts US High-Tech Investment to Boost Semiconductor Ambitions

HANOI – Vietnam is encouraging US companies to expand investments in high-tech and high-value-added industries, Deputy Prime Minister Hồ Quốc Dũng stated during a meeting in Hà Nội on June 26 with Jeff Place, Chief Supply Chain Officer of Coherent Corp.

Dũng praised the US-based technology firm's contributions to Vietnam’s high-tech sector over the past two decades, specifically in producing optical components, semiconductor materials, precision optical glass, and laser solutions for global supply chains. He noted that Vietnam is targeting double-digit economic growth for the 2026-30 period, identifying science and technology, innovation, and digital transformation as primary growth drivers.

To achieve this, the government is prioritising foreign direct investment (FDI) projects that feature advanced technologies, robust research and development (R&D) capabilities, and strong linkages with domestic enterprises. The country also seeks commitments to workforce development and integration into global value chains.

Regarding the semiconductor industry, Dũng outlined Vietnam's strategy to foster a comprehensive ecosystem, progressively expanding its role from chip design, packaging, and testing to materials production and equipment manufacturing. Attracting strategic investors and developing high-quality human resources are central to this plan.

Vietnam is also establishing dedicated semiconductor, electronics, and high-tech industrial ecosystems in localities with well-developed infrastructure, logistics networks, skilled labour, and supply-chain connectivity. Dũng added that the government aims to strengthen supporting industries to boost the supply of materials and components, thereby increasing localisation rates within high-tech value chains.

Furthermore, the Deputy Prime Minister said Vietnam encourages the development of data centres and artificial intelligence (AI) infrastructure that use advanced, energy-efficient technologies while ensuring robust cybersecurity and data protection. He reaffirmed the value of the Comprehensive Strategic Partnership with the US, describing cooperation in trade, investment, technology, and semiconductors as strategically significant and mutually beneficial.

For his part, Place noted that Coherent has operated in Vietnam for about 25 years, with its local manufacturing facilities ranking among the corporation’s best globally. He affirmed Coherent's commitment to expanding its investment, supporting workforce training, and contributing to the development of Vietnam's semiconductor ecosystem.

Place highlighted Coherent’s capacity to manage the entire supply chain, from raw materials and manufacturing equipment to complete systems. He said the corporation aims to build a mutually beneficial and sustainable ecosystem in partnership with Vietnam. Coherent is already cooperating with Vietnamese universities on talent development and research into emerging technologies to foster innovation.

Expressing strong confidence in Vietnam’s investment environment, Place stated that Coherent is pursuing a long-term development strategy in the country, hoping to help establish Vietnam as a key link in the global semiconductor supply chain.