SpaceX is looking to invest $1.5 billion in Vietnam as part of its Starlink satellite service initiative, according to the Vietnamese government. This information was shared following a meeting between SpaceX Senior Vice President Tim Hughes and To Lam, General Secretary of the Communist Party of Vietnam, during Lam’s recent visit to the U.S. for the United Nations General Assembly.
Ongoing Review by Vietnamese Authorities
Lam indicated that the Vietnamese government is currently reviewing SpaceX’s investment proposal. Details regarding the specifics of the investment remain undisclosed, and SpaceX has not responded to requests for comment after standard U.S. business hours. Similarly, Vietnamese government officials were unavailable for immediate commentary.
Previous Interest in Satellite Services
Last year, Vietnam’s government announced SpaceX’s interest in providing low-Earth orbit satellite services to the country. However, earlier this year, Reuters reported that these plans had been temporarily put on hold.
Coordination with Domestic Partners
During his discussions with Starlink, Lam mentioned that Vietnam will work closely with domestic partners to facilitate the investment procedures.
Meetings with U.S. Leaders and Companies
In addition to his meeting with Hughes, Lam also met with U.S. President Joe Biden, where they explored opportunities to enhance cooperation in economic and technological sectors. Notably, Karan Bhatia, Google’s Vice President for Government Affairs and Public Policy, expressed the company’s interest in collaborating with Vietnam to develop AI technology, cloud computing, and cybersecurity initiatives.
Strengthening U.S.-Vietnam Relations
These discussions highlight a growing partnership between the U.S. and Vietnam, focusing on technological advancements and economic cooperation in the region.
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