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Vietnam: SpaceX plans $15 billion investment in Starlink

26 September 2024, 10:23 IST

SpaceX intends to invest $15 billion in Vietnam in the near future related to its Starlink satellite service, the government of the Southeast Asian country said.

SpaceX intends to invest $15 billion in Vietnam in the near future in connection with its Starlink satellite service, the government of the Southeast Asian country said, citing a meeting between the company's senior vice president, Tim Hughes, and Communist Party General Secretary To Lam.

A Starlink logo is featured on the company's product packaging. (AFP)

Lam, who was visiting the United States to attend the United Nations General Assembly, said the Vietnamese government was reviewing the proposal, according to a statement on the website of the country's National Assembly.

No further details were provided. SpaceX did not immediately respond to an email seeking comment outside normal U.S. business hours. Government officials in Vietnam were not immediately available for comment.

The Vietnamese government said last year that SpaceX was interested in providing the country with its low-Earth orbit satellite service. Earlier this year, Reuters reported that those plans had been put on hold.

According to the Vietnamese statement, Lam told Elon Musk's Starlink, a subsidiary of SpaceX that uses thousands of satellites for internet access, that the country would coordinate investment procedures with domestic partners.

Lam, who met with U.S. President Joe Biden, also held meetings with major companies including Boeing Co. and Meta Platforms Inc.

According to the government statement, Karan Bhatia, Google's vice president of government affairs and public policy, told Lam that the Silicon Valley company intends to work with Vietnam on developing AI technologies, cloud computing and enhanced cybersecurity for collaboration.

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