SpaceX invests $1.5 billion in Vietnam

NEW YORK – Party General Secretary and President Tô Lâm will receive Tim Hughes, Senior Vice President for Global Business and Government Affairs of U.S. spacecraft, satellite launch services and satellite communications provider SpaceX, on September 25 (US time).

During the meeting, Lâm expressed his hope that the group would help Vietnam respond to natural disasters in a timely and effective manner.

The Party General Secretary and the President stressed that Vietnam views digital transformation as an important driving force in the new era, appreciated the group's investment proposal in Vietnam and expressed hope that this will be a step forward in promoting cooperation between the two sides.

The Vietnamese government is reviewing the investment proposal, he said, and urged SpaceX to closely coordinate investment formalities with relevant Vietnamese authorities and partners.

Hughes rates Vietnam's potential very highly for SpaceX's satellite internet plans and said the group intends to invest $1.5 billion in the country in the near future.

Hughes expressed his support for Vietnam's universal internet service policy and reiterated his desire to help the country implement this policy. He called on the Vietnamese government to support this policy and urged Vietnamese ministries and agencies to coordinate in this regard. — VNS