Vietnam considers SpaceX’s $1.5 billion investment proposal

SpaceX’s planned investment in Vietnam may boost internet infrastructure and aid education and disaster prevention efforts.

SpaceX is preparing to invest $1.5 billion in Vietnam to expand Starlink's satellite services.

SpaceX is set to invest $1.5 billion in Vietnam, boosting Starlink’s satellite internet services in the country. The government has restarted discussions after talks paused at the end of 2023. Officials are now working closely with SpaceX to finalise plans.

The investment could improve internet access in mountainous regions and strengthen infrastructure for activities such as education and disaster response. SpaceX is particularly interested in supporting the country’s development and improving connectivity.

Disputes over strict regulations on foreign ownership of internet service firms previously stalled discussions. Vietnam limits foreign control to 50%, whereas SpaceX had sought a controlling stake, which may still pose challenges.

Vietnam is becoming an important market for major US companies like SpaceX and Apple, both looking to expand their operations. SpaceX’s Starlink service could also help this country maintain a stronger presence in the contested South China Sea.