Vietnam's only private space company on Tuesday signed a deal with SpaceX to launch its first satellites into orbit next year.

The satellites will fly aboard a 2027 mission under SpaceX's Transporter rideshare program, which allows multiple customers to share the same rocket and split satellite launch costs.

What do we know about VinSpace and SpaceX?

The company, VinSpace, said it would develop and operate the satellites itself, using the missions to test technology in orbit and pave the way for future commercial services.

"Reliable access to space is fundamental to turning satellite innovation into operational missions," VinSpace CEO Thu Vu said.

The company did not disclose how many satellites it plans to launch, their specifications or the value of the contract with Elon Musk's SpaceX.

What is VinSpace?

VinSpace was established in November 2025 by Vingroup, Vietnam's largest privately-owned conglomerate.

The group was founded by Pham Nhat Vuong, Vietnam's richest man. It has interests ranging from real estate, retail and tourism to healthcare and education.

In recent years, Vingroup has increasingly expanded into technology, including electric vehicles, artificial intelligence, robotics and aerospace.

VinSpace says it ultimately wants to become a full-service aerospace company, with capabilities spanning satellite design and manufacturing, launch management, satellite operations and space-based data services.

What are Vietnam's ambitions in space?

Vietnam has been building its space capabilities for decades but remains a relatively small player in the global industry.

It launched its first telecommunications satellite in 2008 and a second in 2012.

The government has set a goal of becoming a mid-level space power in Southeast Asia by 2030, with satellite technology seen as part of a wider drive to develop high-tech industries.

In March, Vietnam opened a major space science and technology center at Hanoi's Hoa Lac High-Tech Park, aimed at expanding domestic satellite development and the use of space-based data.

In April, Vietnam licensed SpaceX's Starlink for its first large-scale trial of satellite internet, which uses thousands of low-Earth-orbit satellites to provide high-speed connectivity.

Edited by: Rob Turner

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