Billionaire Elon Musk's SpaceX will invest 1.5 billion USD in Vietnam

The Ministry of Industry and Trade said that on May 20, Minister of Industry and Trade, Head of the Government's negotiation delegation Nguyen Hong Dien met and worked with leaders of leading US corporations in the fields of energy, aerospace, technology and artificial intelligence, including a meeting with billionaire Elon Musk's Space X Corporation led by Vice President Tim Hughes.

At the meeting, SpaceX affirmed its strong commitment to investing and developing telecommunications infrastructure in Vietnam through the project to deploy Starlink satellite Internet service.

SpaceX emphasized that Vietnam is a strategic market in Starlink's global service expansion orientation. The company will invest about 1.5 billion USD to provide broadband Internet connection nationwide, especially in remote, border and island areas. It is expected that in the first phase, SpaceX will build 10-15 ground stations in Vietnam.

The group is committed to providing modern, stable and affordable telecommunications services, helping to improve the quality of connectivity for millions of Vietnamese people, especially in areas with limited access to traditional networks.

Minister Nguyen Hong Dien highly appreciated SpaceX's investment plan and long-term commitment. He said the Vietnamese Government is ready to create favorable conditions in terms of mechanisms and policies and is actively removing legal obstacles so that the project can be implemented on schedule.

The head of the Ministry of Industry and Trade also suggested that SpaceX expand cooperation to areas such as information technology, clean energy and technology transfer, especially in training high-tech human resources.

The Minister of Industry and Trade asked US corporations to speak up with the Trump administration to promote cooperation with Vietnam (Photo: Moit).

On the same day, Minister Nguyen Hong Dien worked with Excelerate Energy, Lockheed Martin and Google. The Minister asked the influential corporations to help give their opinions to the Trump Administration to convey Vietnam's message.

That is, the Comprehensive Strategic Partnership between Vietnam and the US has been strongly promoted, creating favorable conditions for US companies to invest and do business in Vietnam. Therefore, cooperation with Vietnam will bring long-term strategic benefits and contribute to improving the trade balance towards fairness, harmony and sustainability between the two countries.

Vietnam needs to be treated as a priority trade partner of the US. Vietnam proposes that both sides work together to resolve existing issues in trade and economy , promptly recognize Vietnam as a market economy and remove Vietnam from the D1 and D3 lists that restrict the export of high-tech products. This will contribute to bringing practical benefits to both countries in both the short and long term.

From May 19 to May 22, in Washington DC (USA), the Vietnamese negotiation delegation led by Minister of Industry and Trade, Head of the Government Negotiation Delegation Nguyen Hong Dien began negotiation sessions with the US side.

The negotiating delegation also included representatives of ministries and branches including: Ministry of Public Security, Ministry of Foreign Affairs, Ministry of Finance, Ministry of Construction, Ministry of Home Affairs, Ministry of Agriculture and Environment, Ministry of Science and Technology, Ministry of Justice and State Bank.

Source: https://dantri.com.vn/kinh-doanh/spacex-cua-ty-phu-elon-musk-se-dau-tu-15-ty-usd-vao-viet-nam-20250521124119558.htm