Vietnam’s government is reportedly assessing a proposal from SpaceX to invest up to USD 1.5 billion in the establishment of Starlink’s satellite service in the country.
During a visit to the US for the United Nations General Assembly (UNGA), which began on September 24, General Secretary and State President, To Lam, met with SpaceX Senior Vice President, Tim Hughes, and other US company executives.
Lam noted that Vietnam is reviewing the proposal and urged SpaceX to work with relevant agencies and partners to finalize the investment process.
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Earlier this month, Hughes met with Vietnamese Prime Minister, Pham Minh Chinh, in Hanoi to discuss SpaceX’s potential investment and satellite services in Vietnam.
As trade tensions with China grow, Vietnam is becoming an appealing destination for tech investments. During his visit to New York, Lam held meetings with executives from Google, Apple, Meta, and IT firm, Supermicro. As a result of his trip, American and Vietnamese businesses finalized several deals in sectors such as semiconductors, artificial intelligence (AI), and aviation.
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According to reports, Google's Karan Bhatia, Head of Government Affairs and Public Policy, informed Lam during their meeting that the company seeks to enhance research and cooperation with Vietnam in AI and cybersecurity development.
Lam expressed his support for Google's proposal, highlighting its potential to yield practical benefits for both parties.
Recently, Samsung Display Co announced plans to invest USD 1.8 billion in a facility for OLED displays in the Bac Ninh province, where the company already operates six plants and an R&D center.
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