SpaceX's $15 Billion Vietnam Venture: Starlink Expansion in Southeast Asia

Elon Musk's SpaceX plans to invest $15 billion in Vietnam, potentially ending the stalemate over launching its Starlink satellite services. The Vietnamese government is considering the proposal, while the investment promises to aid education, disaster prevention, and improve internet reliability. Key hurdles include foreign ownership limits and data storage requirements.

Elon Musk's SpaceX is set to invest $15 billion in Vietnam, a move that could break the impasse over the launch of its Starlink satellite services there. According to a government report on Thursday, talks that were stalled at the end of 2023 have resumed.

President To Lam of Vietnam indicated the government's interest in the proposal, emphasizing the need for thorough preparations. This follows a meeting in New York with Tim Hughes, SpaceX's senior vice president for global business and government affairs.

SpaceX aims to provide satellite internet services to aid education and disaster prevention in Vietnam, a potential benefit to the country's large user base. However, hurdles like foreign ownership limits and strict data storage laws remain unresolved.

(With inputs from agencies.)