2024-09-28 22:01:28
Elon Musk’s SpaceX plans to make a $1.5 billion investment in Vietnam that could help solve problems related to the launch of Starlink satellites, Reuters reported.
“The Vietnamese government is considering the investment proposal of SpaceX,” Vietnamese President To Lam said.
He met in New York with SpaceX Vice President Tim Hughes, who said the company plans to invest $1.5 billion in Vietnam as a promising market for its satellite Internet services.
With a population of 100 million, Vietnam is a large user base for US internet companies such as Facebook and Meta, but its aging equipment could disrupt key submarine fiber optic cables, Reuters noted.
Large mountain ranges also affect the quality of Internet service in Vietnam, which could use satellite Internet in its stricter patrols in the disputed South China Sea. However, such a step may not be well received by China, which claims the majority of this water basin, BTA reported.