Vietnam’s VinSpace signs deal with Elon Musk’s SpaceX to launch its first satellites in 2027

Vietnamese aerospace firm VinSpace has inked an agreement with SpaceX to place its inaugural satellites into orbit via a SpaceX rideshare mission in 2027, as the Southeast Asian country strives to bolster its fledgling space sector. The satellites, to be developed and managed by VinSpace, will be utilized to validate the company's technological prowess in space and facilitate forthcoming commercial ventures.

Situated within Vietnam's Vingroup conglomerate, VinSpace was founded in November 2025 by tycoon Pham Nhat Vuong. The conglomerate, Vietnam's largest privately owned enterprise, wields influence across diverse sectors, encompassing real estate, retail, healthcare, education, and tourism. In recent years, Vingroup has intensified investments in high-tech industries such as electric vehicles, space technology, artificial intelligence, and robotics, aligning with Vietnam's ambition to ascend to Asia's next "tiger economy."

While Vietnam has made strides in aerospace over the past several decades, progress has been slow, and the nation remains a minor player in the global space arena. Vietnam's inaugural telecommunications satellite was launched in 2008, followed by another in 2012, as recorded in official documents. In March, the country inaugurated a significant space science and technology center in Hanoi's Hoa Lac High-Tech Park, aimed at accelerating the country's satellite development and utilization of space-based data. By 2030, Vietnam aspires to attain mid-level status as a space power in Southeast Asia.

In February, Vietnam granted SpaceX permission to launch its Starlink satellite internet service within the country, a move that some analysts interpreted as Vietnam's strategy to circumvent U.S. tariffs. Starlink has since begun accepting orders in Vietnam. VinSpace's collaboration with SpaceX is a pivotal component of the company's broader strategy to become a comprehensive aerospace entity, encompassing satellite design, manufacturing, launch management, operational services, and space-based data solutions.

VinSpace's CEO, Thu Vu, emphasized in a statement that the contract with SpaceX is a critical step toward turning satellite innovation into practical missions. The specifics of the contract, including the number and technical details of the satellites, have not been disclosed by VinSpace.