Kathmandu— Vietnam’s VinSpace, a recently established aerospace firm based in Hanoi, has announced a partnership with Elon Musk’s SpaceX to launch its first satellites into orbit. The agreement, revealed on Tuesday, will see VinSpace utilize SpaceX's Transporter ride-share program for deployment in the second quarter of 2027. This initiative aims to test domestically developed technology, foster international collaboration, and ultimately commercialize space technology within Vietnam. VinSpace will oversee all aspects of satellite research, development, manufacturing, and operation following launch.

Strategic Partnership Details

Under the terms of the agreement, SpaceX will provide launch services through its Transporter program, a rideshare initiative designed to lower the cost of access to space for smaller satellites. VinSpace will retain full responsibility for the end-to-end lifecycle of the satellites, from initial research and development to in-orbit operation. Vu Trong Thu, CEO of VinSpace, emphasized the importance of this step, stating that “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.”

Vietnam's Growing Space Ambitions

The partnership marks a significant milestone for Vietnam’s burgeoning space program. While Vietnam has successfully launched satellites previously, beginning with VINASAT-1 in 2008, this agreement signals a move towards domestic manufacturing and operational capabilities. In 2024, the Vietnamese ruling communist party formally recognized space technology as a strategic national priority, aligning it with key areas like maritime and subterranean domains. This commitment is reflected in the establishment of VinSpace itself.

VinSpace's Ownership and Investment

VinSpace is a unit of Vingroup, Vietnam’s largest private conglomerate, and was incorporated in November of last year with committed capital of 300 billion Vietnamese dong (approximately $11.5 million). Pham Nhat Vuong, Vietnam’s wealthiest individual and founder/chairman of Vingroup, holds a majority stake of 71 percent in VinSpace. His sons, Pham Nhat Quan Anh and Pham Nhat Minh Hoang, each hold approximately 5 percent stakes, while Vingroup itself maintains a 19-percent ownership.

VinSpace anticipates launching its first satellites through the SpaceX partnership in the second quarter of 2027, furthering Vietnam’s ambitions to establish a robust commercial aerospace ecosystem and integrate into the global space value chain.

(With inputs from Al Jazeera)

Originally published on abcnews.com.np.