Vietnamese aerospace company VinSpace announced on Tuesday (August 11) that it has signed a contract with Elon Musk’s SpaceX to launch its first batch of satellites into orbit in 2027.
According to reports by the Associated Press, VinSpace stated in a press release that its satellites will be launched through SpaceX Transporter’s rideshare mission in 2027. The rideshare mission will load multiple customers’ satellites onto the same rocket to allow customers to share the launch costs.
VinSpace mentioned that the satellites to be launched next year will be developed and operated by the company itself. These satellites will be used for in-orbit testing of the company’s technology and will provide support for future commercial applications. VinSpace stated that this project aligns with the company’s strategy, not only building capabilities across the entire space value chain but also covering various aspects such as satellite design and manufacturing, assembly, integration and testing, launch management, operations, and data services.
As Vietnam endeavors to develop its emerging aerospace industry, VinSpace is actively advancing related business initiatives. Established in November of last year, VinSpace is a subsidiary of Vietnam’s Vingroup conglomerate, with an initial capital of 300 billion Vietnamese dong (approximately $1.14 million USD).
Vingroup was founded by business tycoon Pham Nhat Vuong and is Vietnam’s largest private enterprise. The conglomerate boasts a vast commercial empire spanning real estate, retail, healthcare, education, and tourism among many other sectors.
Vietnam is progressively moving towards the global stage, heavily investing in high-tech industries such as electric vehicles, aerospace, artificial intelligence, and robotics, critical for Vietnam’s ambitions to become the next rapidly growing economy in Asia.
For decades, Vietnam has been striving to enhance its aerospace capabilities, yet its global influence in the aerospace field remains limited. Official documents indicate that Vietnam launched its first communication satellite in 2008, followed by another in 2012.
In February this year, Vietnam allowed SpaceX to introduce the Starlink satellite internet service in the country. Some analysts view this as Vietnam’s measure to circumvent US tariffs. Since then, Starlink has begun accepting orders in Vietnam.
VinSpace stated that the cooperation agreement with SpaceX is part of its plan to become a comprehensive aerospace company, aimed at developing a range of capabilities from satellite design and manufacturing to launch management, satellite operations, and geospatial data services.