Vietnam’s VinSpace announces deal with SpaceX to launch first satellite

Vietnam’s Vinspace has announced that it will partner with Elon Musk’s SpaceX to launch its first satellites next year.

Vinspace said on Tuesday that it will use SpaceX’s Transporter ride-share programme to deploy the satellites into orbit in the second quarter of 2027.

The missions will allow Vinspace to test its technology in real-world conditions, expand international cooperation and gradually commercialise space technology, the Hanoi-based aerospace company said in a statement.

Under the agreement, Vinspace will be responsible for the research, development, manufacturing and operation of the satellites after their launch into space, according to the statement.

“Testing domestically developed satellite modules in orbit is an important condition for transforming the research and development capabilities of VinSpace’s engineering team into real missions,” VinSpace CEO Vu Trong Thu said.

“The contract with SpaceX is an important step forward in VinSpace’s long-term strategy, aimed at contributing to the development of a commercial aerospace ecosystem in Vietnam, while connecting Vietnam with the global space value chain.”

The agreement comes after Vinspace, owned by Vietnam’s wealthiest man Pham Nhat Vuong, announced in April that it would aim to manufacture and launch its first satellites in 2027.

Vietnam has launched multiple satellites into orbit since the deployment of VINASAT-1, the country’s first satellite, in 2008.

In 2024, Vietnam’s ruling communist party defined space technology as a national strategic technology for the first time, placing outer space on par with the maritime and subterranean domains.

Vinspace, a unit of Vietnam’s largest private conglomerate Vingroup, was incorporated in November last year with committed capital of 300 billion Vietnamese dong ($11.5m).

Vingroup founder and chairman Pham Nhat Vuong holds a 71-percent stake in Vinspace, according to company filings.

Vingroup holds a 19-percent stake, while Pham’s sons Pham Nhat Quan Anh and Pham Nhat Minh Hoang hold stakes of about 5 percent each.