HCMC – Elon Musk’s SpaceX has announced plans to invest US$1.5 billion in Vietnam, recognizing the country’s potential for the growth of its satellite internet projects, according to the Vietnam News Agency.
Vietnam’s Party General Secretary and President To Lam met with Tim Hughes, SpaceX’s senior vice president for Global Business and Government Affairs, on September 25 during his working trip to the U.S.
During the meeting, Vietnam’s top leader expressed gratitude to SpaceX for its assistance in the aftermath of typhoon Yagi, saying he expects SpaceX’s Starlink satellite internet service will help Vietnam respond swiftly and effectively to natural disasters.
Highlighting Vietnam’s focus on digital transformation as a critical driver of growth, Lam praised SpaceX’s investment proposal and said it would strengthen future cooperation between the two sides.
The Vietnamese Government is currently reviewing the proposal and has asked SpaceX to work with relevant authorities and domestic partners to ensure a smooth investment process.
Hughes emphasized Vietnam’s potential as a key market for SpaceX’s satellite internet development and reaffirmed the corporation’s commitment to investing US$1.5 billion in the near future. He also expressed eagerness to collaborate with the Vietnamese Government, ministries, and agencies to advance this project.
