Vingroup-backed VinSpace targets first satellite launch in 2027

VinSpace, an aerospace venture founded by Vietnamese billionaire Pham Nhat Vuong, aims to manufacture and launch its first microsatellite into orbit by 2027, marking Vietnam’s latest push into the commercial space industry.

The plan was disclosed in the 2025 annual report of Vingroup, which holds a 19% stake in VinSpace, making it the company’s second-largest shareholder. Pham Nhat Vuong directly owns 71%, with the remainder held by his family members.

Beyond satellite production and launch, VinSpace is building out core infrastructure, including cleanroom facilities, testing equipment, and ground station systems, to ensure the project meets its timeline.

The company is also seeking partnerships with domestic and international players to develop a broader aerospace ecosystem, targeting to commercialize services in telecommunications and remote sensing.

VinSpace’s move comes as Vietnam gradually builds capacity in space technology. Prior to this initiative, Vietnam National Space Center had been the only domestic entity to successfully develop microsatellites, launching them into orbit in 2013 and 2021.

Founded on November 3 with a charter capital of VND300 billion ($11.4 million), VinSpace operates across six business lines, including aircraft and spacecraft manufacturing, satellite production, and air cargo transport.

The venture represents the extension of Vingroup’s expanding technology ecosystem, which already includes subsidiaries focused on robotics, software, and cybersecurity.