SpaceX eyes Vietnam for $1.5 billion satellite internet investment

During a meeting with Vietnam’s Party General Secretary and State President To Lam in New York on September 25, Hughes underscored SpaceX’s vision for expanding its Starlink satellite internet services in the country.

“SpaceX launched its satellite internet projects five years ago, and now with over 6,000 low-Earth orbit satellites, Starlink can deliver internet access nearly anywhere on Earth,” Hughes said. "Starlink, a key initiative of SpaceX, aims to provide global internet coverage through a constellation of satellites."

President Lam welcomed SpaceX's investment proposal, expressing hope that it would mark the beginning of a fruitful partnership. “Vietnam is committed to digital transformation as a driving force for its future development,” he said.

He also highlighted the crucial role that satellite internet could play in advancing this agenda, particularly in remote areas.

The Vietnamese government is currently evaluating SpaceX’s proposal.

President Lam also urged the company to work closely with authorities and local partners to streamline the investment approval process. He also voiced expectations that Starlink’s services could help Vietnam improve its disaster management capabilities by providing timely communication solutions.

Hughes affirmed SpaceX’s readiness to support Vietnam’s ambition to provide universal internet access, stating, “We look forward to collaborating with the Vietnamese government and ministries to bring this vision to life.”

Earlier, in a September 6 meeting with Prime Minister Pham Minh Chinh, Hughes announced that SpaceX was fully prepared to introduce Starlink to Vietnam, urging the country to establish the necessary infrastructure to maximise the benefits of the project.

Founded by billionaire Elon Musk, SpaceX initially explored the possibility of bringing Starlink to Vietnam during Hughes’ meeting with PM Chinh in September 2023. At that time, SpaceX expressed a strong desire to bridge the digital divide in Vietnam’s remote areas, where internet access is often limited.

Starlink was introduced in Southeast Asia in early 2023, with initial launches in the Philippines and Malaysia. Plans for further expansion across the region are underway for 2024, although both Vietnam and Thailand are awaiting regulatory approvals.

On the same day, President Lam also held meetings with executives from AES Corporation and Pacifico Energy, two prominent players in the energy sector.

In a discussion with Juan Ignacio Rubiolo, senior vice president of AES Corporation, Lam praised the company’s successful business operations in Vietnam. He encouraged AES to “continue its close cooperation with Vietnamese partners” to ensure legal compliance and efficient project execution.

Vietnam is actively seeking to balance its trade relationship with the United States, including increased imports of liquefied natural gas. President Lam expressed support for AES’s efforts in this area, stressing that the company should not delay its future projects, which are already integrated into Vietnam’s power development plan.

In his meeting with Nate Franklin, founder and president of Pacifico Energy, he applauded the company’s contributions to clean energy development in Vietnam and internationally. He urged Pacifico Energy to “accelerate ongoing projects” and expressed optimism about the company’s future expansion in Vietnam.

Franklin acknowledged Vietnam’s strategic advantages for clean energy projects and committed to “continue developing energy projects that will help drive Vietnam’s economic growth.”

He also reiterated Pacifico Energy’s dedication to collaborating with local partners to ensure effective project implementation in line with Vietnam’s energy goals.

Vietnam calls on Apple to set up R&D centre to boost innovation During a visit to New York for the 79th UN General Assembly, Vietnam’s Party General Secretary and President To Lam met with senior executives from US tech giants Apple, Meta, and Supermicro, urging deeper collaboration on Vietnam’s manufacturing capabilities and innovation potential.