Vietnam's aerospace company Vinspace has announced a partnership with Elon Musk's SpaceX to launch its first satellites into orbit. The deal, announced on Tuesday, will see the satellites deployed via SpaceX's Transporter ride-share program in the second quarter of 2027.

According to a statement from the Hanoi-based company, the missions will allow Vinspace to test its technology in real-world conditions, expand international cooperation, and gradually commercialize space technology. Under the agreement, Vinspace will be responsible for the research, development, manufacturing, and operation of the satellites after launch.

"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," said CEO Vu Trong Thu. "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 follows Vinspace's April announcement, in which the company, owned by Vietnam's wealthiest man Pham Nhat Vuong, set a goal to manufacture and launch its first satellites in 2027. Vietnam has launched multiple satellites since deploying VINASAT-1, its first satellite, in 2008.

In 2024, Vietnam's ruling communist party designated space technology as a national strategic technology for the first time, placing outer space on par with 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 ($11.5 million).

Vingroup founder and chairman Pham Nhat Vuong holds a 71% stake in Vinspace, while Vingroup holds 19%, and Pham's sons, Pham Nhat Quan Anh and Pham Nhat Minh Hoang, each hold approximately 5% stakes, according to company filings.

Source: www.aljazeera.com