SpaceX plans to invest US$1.5 bln in Viet Nam

Tim Hughes, Senior Vice President for Global Business and Government Affairs of SpaceX announced the plan during his meeting with General Secretary and President To Lam in New York on Wednesday on the occasion of the Vietnamese leader's trip to the U.S. to attend the 79th session of the UN General Assembly.

Tim Hughes said, Viet Nam is a very potential market for SpaceX's satellite Internet development plan, adding that the corporation launched satellite Internet service five years ago and now has over 6,000 satellites in orbit. It has the capability to provide services almost anywhere on Earth.

To Lam, for his side, expressed thanks to the tech giant's request for assisting Viet Nam in Typhoon Yagi aftermath, expressing his belief that SpaceX's satellite Internet service will support the nation in responding promptly and effectively to natural disasters in the future.

Viet Nam determines that digital transformation is one of the important driving forces to bring the country into a new era, he said, speaking highly of SpaceX's investment proposal in the country.

The investment will be a favorable initial step to further promote cooperation between the two sides in the time ahead, noted the Vietnamese leader.

He suggested SpaceX discuss and exchange with relevant agencies and partners to ensure the effectiveness of the investment.

Tim Hughes affirmed his desire to support Viet Nam in realizing this project, looking forward to receiving the support of the Vietnamese Government, as well as Vietnamese ministries and agencies during the implementation process of the project./.