SpaceX plans to expand investment in Vietnam
SpaceX plans to expand its investment in Vietnam to provide Starlink (satellite internet) services, the country's government news portal quoted Tim Hughes, senior vice president in charge of government relations and global business at SpaceX, as saying.
Within the framework of his seven-day visit to the U.S., Vietnamese Prime Minister Pham Minh Chinh met executives from a number of major U.S. and international businesses, including SpaceX, Coca-Cola, Pacifico Energy, and Medtronic, on Wednesday, September 20 (local time) in New York.
At the meeting with SpaceX Group, Chinh highly appreciated SpaceX Group's global investments and welcomed SpaceX to proactively expand its investment cooperation in Vietnam, thereby contributing to promoting digital transformation and the digital economy.
The Vietnamese leader said he would assign relevant agencies to discuss and guide the corporation in implementing cooperation and investment projects within the legal framework. He also asked the group to comment on related policies and promote innovation in Vietnam.
Prime Minister Pham Minh Chinh and Tim Hughes, senior vice president in charge of government relations and global business at SpaceX Group. Photo coutersy of Vietnam's government portal.
After the visit of U.S. President Joe Biden on September 10-11, many U.S. businesses, such as Boeing and Walmart have been looking at Vietnam for cooperation opportunities.
Vietnam and the U.S. agreed to raise bilateral ties to a comprehensive strategic partnership, the highest in Vietnam’s diplomatic hierarchy, during President Joe Biden’s visit to Hanoi. The upgrade takes Vietnam-U.S. relations on a par with Vietnam's relationships with China, Russia, India and South Korea.
The U.S. is Vietnam's largest export market and second biggest trade partner, behind only China. The U.S. became the first market to which Vietnam's exports surpassed $100 billion in 2022.
In March, SpaceX was among a group of 50 U.S. businesses that visited Vietnam to seek investment opportunities. SpaceX is a U.S. private company specializing in the production of booster rockets and spacecraft, headquartered in California. The company was founded in 2002 by Elon Musk.
- Related News
- Read More
Retail investors allowed to purchase Vietnam corporate bonds via private placements
Retail professional investors are now permitted to purchase corporate bonds in Vietnam via private placements, provided that issuers have credit ratings, collateral, or payment guarantees.
Finance - Fri, November 29, 2024 | 11:10 pm GMT+7
Malaysia announces tax incentives for electric vehicles
The Malaysian Government has implemented several initiatives to encourage local companies to increase their efforts to manufacture electric vehicles (EVs) to support the development direction of the local automotive industry.
Southeast Asia - Fri, November 29, 2024 | 10:49 pm GMT+7
Malaysia targets 2 million tonnes of hydrogen by 2030
Malaysia plans to produce 2 million tonnes of hydrogen annually by 2030 and 16 million tonnes by 2050 under its Hydrogen Economy and Technology Roadmap (HETR), according to Science, Technology and Innovation Minister Chang Lih Kang.
Southeast Asia - Fri, November 29, 2024 | 10:47 pm GMT+7
Trump’s tariff policies pose 'minimal' risk to derail Vietnam’s growing economy
Vietnam was Asia’s biggest beneficiary of the first Trump administration. While Trump 2.0 will probably not be as beneficial to Vietnam as Trump 1.0 was, there is "minimal risk" that Trump’s tariff policies will derail Vietnam’s growing economy – in sharp contrast to claims made in some articles published since his election, writes Michael Kokalari, chief economist at VinaCapital.
Consulting - Fri, November 29, 2024 | 10:24 pm GMT+7
Singapore-Thailand JV Nexif Ratch to invest $155 mln in wind power in Vietnam
Nexif Ratch Energy, a regional renewable energy developer, will invest $155 million in a 102MW wind power project in Vietnam’s central coastal province of Khanh Hoa.
Energy - Fri, November 29, 2024 | 9:40 pm GMT+7
Geopolitical impacts on Vietnam’s exports can hinder M&A in 2025: KPMG exec
Geopolitical conflicts and U.S. policies that could weaken Vietnam's exports are key factors with potential to hinder mergers and acquisitions (M&A) in 2025, says Nguyen Cong Ai, a partner with KPMG Vietnam.
Economy - Fri, November 29, 2024 | 4:53 pm GMT+7
Central Vietnam province okays $590 mln textile project
Singapore-based Mega Textile Singapore Limited will invest $590 million in Vietnam’s central province of Nghe An.
Industries - Fri, November 29, 2024 | 4:41 pm GMT+7
Vietnam equipped to allow sports betting via internet: expert
Vietnam is capable of permitting Internet-based tickets for sports betting with careful management of players and without unsuitable restrictions, says Nguyen Tu Quang, chairman of BKAV Group, a leading tech firm in the country.
Economy - Fri, November 29, 2024 | 3:36 pm GMT+7
S Korean firm Dentium to invest additional $177 mln in central Vietnam hi-tech park
South Korean medical equipment manufacturer Dentium Co., Ltd. will invest $177 million in building its third factory at the Danang Hi-Tech Park in the eponymous central city.
Industries - Fri, November 29, 2024 | 3:09 pm GMT+7
Southeast Asia salaries set for a 2025 bump: Aon
The budgeted salary increases for 2025 across Southeast Asia are projected to be higher than in 2024, according to a report by professional services firm Aon.
Southeast Asia - Fri, November 29, 2024 | 3:06 pm GMT+7
Malaysia, Singapore cooperate on renewable energy
The renewable energy industry will be one of the main focuses in the Johor-Singapore Special Economic Zone (JS-SEZ) development, bringing significantly benefit to both countries.
Southeast Asia - Fri, November 29, 2024 | 1:20 pm GMT+7
EzyRemit Worldwide has 6 global offices, to expand services to 150 countries: exec
EzyRemit Worldwide is proud to offer seamless financial solutions, providing safe, fast, and economical remittance services to the global community, said Allan Nguyen, co-founder of EzyRemit Worldwide.
Companies - Fri, November 29, 2024 | 1:00 pm GMT+7
M&A the best path for new investors to enter Vietnam: Keppel exec
Mergers and acquisitions (M&A) are the most effective entry strategy for new investors entering Vietnam, according to Lee Leong Seng, head of property development/residential real estate (Vietnam) at Keppel Ltd.
Economy - Fri, November 29, 2024 | 10:26 am GMT+7
Vietnam's real estate market among most promising in Asia-Pacific: Knight Frank
Vietnam’s cost-effective yet high-quality real estate offerings are attracting expatriates and investors, write Knight Frank analysts.
Consulting - Fri, November 29, 2024 | 9:51 am GMT+7
Int’l brands fined for misleading advertising in Vietnam
Despite their long-standing presence in Vietnam, Sharp and AQUA, two well-known brands originated from Japan, have recently been slapped with hefty fines for misleading consumers about their products.
Companies - Fri, November 29, 2024 | 7:31 am GMT+7
Private lender Eximbank dismisses 2 vice chairpersons, to move headquarters to Hanoi
The extraordinary general meeting (EGM) of private lender Eximbank on Thursday voted to dismiss two vice chairpersons Nguyen Ho Nam and Luong Thi Cam Tu and relocate its headquarters from Ho Chi Minh City to Hanoi.
Companies - Thu, November 28, 2024 | 9:55 pm GMT+7
