SpaceX is reportedly planning to invest $15 billion in Vietnam as part of its Starlink satellite service initiative, according to the Vietnamese government. This proposal emerged during a meeting between SpaceX Senior Vice President Tim Hughes and To Lam, the General Secretary of the Communist Party of Vietnam, who was in the U.S. for the United Nations General Assembly.
The Vietnamese government stated that it is currently reviewing SpaceX’s investment proposal, although no further details have been disclosed. SpaceX did not respond to requests for comment following regular U.S. business hours, and officials in Vietnam were also unavailable for immediate comments.
Vietnam’s government indicated last year that SpaceX was interested in providing its low-Earth orbit satellite service to the country, but reports earlier this year suggested that those plans had been put on hold.
During his visit, Lam communicated to representatives of Starlink that the Vietnamese government would work closely with domestic partners to facilitate the investment process. In addition to meeting with President Joe Biden, Lam also engaged with leaders from major corporations, including Boeing and Meta Platforms Inc.
Furthermore, Karan Bhatia, Google’s Vice President for Government Affairs and Public Policy, expressed to Lam the company’s intention to collaborate with Vietnam on developing AI technology, enhancing cloud computing, and improving cybersecurity partnerships.
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