UNITED STATES: SpaceX is proposing to invest US$15bil in Vietnam tied to its Starlink – a subsidiary of SpaceX that uses thousands of satellites to provide web access – satellite service in the near future.

The South-East Asian country’s government cited a meeting between the company’s senior vice-president Tim Hughes and the Communist Party’s general secretary To Lam.

Lam, who was visiting the US to attend the United Nations General Assembly, said the Vietnam government is reviewing the proposal, according to a statement on the website of the country’s national assembly.

No further details were provided. SpaceX didn’t immediately respond to an email seeking comment after normal US working hours.

Government officials in Vietnam weren’t immediately available for comment.

Vietnam’s government said last year that SpaceX was interested in providing the country with its low-Earth orbit satellite service.

Earlier this year, Reuters reported that those plans were put on hold.

According to the Vietnamese statement, Lam told Starlink, the nation will coordinate with domestic partners to complete investment procedures.

Lam, who met with US President Joe Biden, also held meetings with major companies, including Boeing Co and Meta Platforms Inc. 

- Bloomberg