VinSpace, Vietnam's first private space company and a unit of conglomerate Vingroup, announced on Tuesday that it has signed an agreement with SpaceX to launch its first satellites via SpaceX's Transporter rideshare programme, with the mission scheduled for 2027.
Vietnam's VinSpace signs launch agreement with SpaceX to deploy first satellites in 2027
VinSpace, Vietnam's first private space company and a unit of conglomerate Vingroup, announced on Tuesday that it has signed an agreement with SpaceX to launch its first satellites via SpaceX's Transporter rideshare programme, with the mission scheduled for 2027.
According to Al Jazeera, the launch is planned for the second quarter of 2027. The Transporter rideshare programme allows multiple customers to share a single rocket, splitting launch costs among them.
Under the agreement, VinSpace will be responsible for the research, development, manufacturing and operation of the satellites. The company said the missions are intended to test technology under real-world orbital conditions and to lay the groundwork for future commercial services.
VinSpace CEO Thu Vu — identified in Al Jazeera's report as Vu Trong Thu — said that testing domestically developed satellite modules in orbit is a necessary step toward converting the engineering team's research and development capabilities into operational missions. Al Jazeera also quoted the CEO describing the SpaceX contract as an important element of VinSpace's long-term strategy to help build a commercial aerospace ecosystem in Vietnam and connect the country to the global space value chain.
VinSpace was incorporated in November 2025 by Vingroup, described by both sources as Vietnam's largest privately owned conglomerate. The group was founded by Pham Nhat Vuong, identified by both sources as Vietnam's wealthiest individual. According to Al Jazeera, VinSpace was established with committed capital of 300 billion Vietnamese dong, equivalent to approximately $11.5 million. Al Jazeera further reports, citing company filings, that Pham Nhat Vuong holds a 71-percent stake in VinSpace, Vingroup holds 19 percent, and Pham's sons Pham Nhat Quan Anh and Pham Nhat Minh Hoang each hold stakes of approximately 5 percent.
VinSpace has stated its long-term ambition is to become a full-service aerospace company with capabilities spanning satellite design and manufacturing, launch management, satellite operations and space-based data services, according to Deutsche Welle.
Vingroup has expanded in recent years into technology sectors including electric vehicles, artificial intelligence, robotics and aerospace, according to Deutsche Welle.
Vietnam launched its first telecommunications satellite, VINASAT-1, in 2008. Both sources note additional satellites have been launched since then, with Deutsche Welle specifying a second satellite was launched in 2012. The Vietnamese government has set a goal of becoming a mid-level space power in Southeast Asia by 2030, according to Deutsche Welle. Al Jazeera reports that in 2024, Vietnam's ruling communist party designated space technology a national strategic priority for the first time.
Deutsche Welle additionally reports that in March, Vietnam opened a major space science and technology centre at Hanoi's Hoa Lac High-Tech Park, and that in April, Vietnam licensed SpaceX's Starlink for its first large-scale trial of satellite internet.
Where sources differ
- The CEO's name is rendered differently across sources: Deutsche Welle uses 'Thu Vu', while Al Jazeera renders the name as 'Vu Trong Thu'. Both appear to refer to the same individual.
- The number of satellites VinSpace plans to launch has not been disclosed.
- The technical specifications of the satellites have not been made public.
- The financial value of the contract between VinSpace and SpaceX has not been disclosed.
- SpaceX has not been quoted or reported as having commented on the agreement.
- It is not established whether the April 2026 announcement by VinSpace to manufacture and launch satellites in 2027 (noted by Al Jazeera) was contingent on this SpaceX agreement or independent of it.
- The specific orbit or orbital altitude targeted for the satellites has not been reported.
- Deutsche Welle — original — by Richard Connor
- Al Jazeera English — by John Power
Read the original at Deutsche Welle