VinSpace aims to become full-service aerospace firm covering design, launch and satellite operations.
Hanoi: Vietnamese aerospace firm VinSpace announced on Tuesday that it has entered into a contract with SpaceX to launch its maiden satellites into orbit in 2027, marking a fresh push by the Southeast Asian nation to build up its emerging space sector.
The satellites will be carried aboard a SpaceX Transporter rideshare mission — a service operated by Elon Musk's company that bundles satellites from multiple clients onto a single rocket to bring down launch expenses, VinSpace said in an official statement.
Per the company, the satellites will be designed and operated in-house, serving as a testbed for its technology in orbit while laying the groundwork for future commercial ventures.
VinSpace, a unit of Vietnamese conglomerate Vingroup, was set up in November 2025. The firm had earlier indicated in April its intention to build and launch its first satellites by 2027.
Vingroup, helmed by billionaire Pham Nhat Vuong, ranks as Vietnam's largest privately held enterprise, with interests spanning real estate, retail, healthcare, education and tourism. The group has increasingly turned its focus overseas, pumping resources into emerging technology fields such as electric vehicles, space exploration, artificial intelligence and robotics — sectors that form the backbone of Vietnam's push to emerge as Asia's next tiger economy.
Vietnam's aerospace journey stretches back several decades, though the country continues to hold a modest position within the global space arena. Its first telecommunications satellite went into orbit in 2008, followed by a second launch in 2012, official records show.
In a further step toward expanding its space capabilities, the country opened a major space science and technology hub in March at Hanoi's Hoa Lac High-Tech Park, designed to strengthen satellite development efforts and boost the use of space-based data. Vietnam has set its sights on becoming a mid-tier space power in Southeast Asia by the year 2030.
Earlier this year, in February, Vietnamese authorities cleared the way for SpaceX to roll out its Starlink satellite internet service within the country — a move some observers linked to Hanoi's broader strategy of sidestepping U.S. tariffs. Starlink has since gone live and started taking orders across Vietnam.
VinSpace described the SpaceX partnership as a key step in its broader roadmap to emerge as a comprehensive aerospace company, with plans to build capabilities across satellite design, manufacturing, launch coordination, satellite operations and space-based data services. "Reliable access to space is fundamental to turning satellite innovation into operational missions," said VinSpace CEO Thu Vu in the statement. The company withheld details on the financial terms of the agreement, as well as the number and technical specifications of the satellites involved.
