SpaceX Plans to Invest Billions in Vietnam in the Coming Years

SpaceX's Senior Vice President, Tim Hughes, has stated that Vietnam is a highly promising market for the company's satellite internet development plans. The corporation intends to invest billions of dollars in the country in the coming years, recognizing the potential for growth and expansion within the Vietnamese market.

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As reported by TTXVN, continuing his activities during his working trip to New York, USA, on September 25 (local time), General Secretary and President To Lam held meetings with leaders of several large US corporations in the fields of energy, space technology, and satellites, including AES, Pacifico Energy, SpaceX, and Google.

General Secretary and President To Lam meets with Mr. Tim Hughes, Senior Vice President of SpaceX

SpaceX plans to invest billions of USD in Vietnam in the coming time

At the meeting with Mr. Tim Hughes, Senior Vice President of SpaceX, a world-leading corporation in providing spacecraft, satellite launching services, and satellite communications, General Secretary and President To Lam expressed his appreciation for SpaceX’s interest and offer to help regarding the third storm (internationally known as Yagi). He also expected that SpaceX’s Starlink service would support Vietnam in timely and effective disaster response in the future.

Emphasizing that Vietnam considers digital transformation as one of the crucial driving forces to propel the country into a new era, the General Secretary and President highly valued SpaceX’s investment proposal in Vietnam and expressed his hope for this to be a favorable beginning to further promote cooperation between the two sides in the coming time.

According to the General Secretary and President To Lam, the Vietnamese government is studying the corporation’s proposal and requested SpaceX to closely coordinate with relevant agencies and domestic partners to ensure efficiency in completing investment preparation procedures.

Mr. Tim Hughes shared that SpaceX has initiated satellite internet projects five years ago and currently has over 6,000 satellites in low Earth orbit. SpaceX’s satellites can provide internet access almost anywhere on Earth.

Assessing that Vietnam is a very potential market for SpaceX’s satellite internet development plan, Mr. Tim Hughes revealed that the corporation plans to invest billions of USD in Vietnam in the coming time.

Agreeing with the policy of universal internet access, Mr. Tim Hughes affirmed his desire to support Vietnam in realizing this plan and sought the Vietnamese government’s support and coordination from relevant ministries and sectors to initiate the cooperation process related to this project.

Pacifico Energy Corporation commits to continuing to develop projects in Vietnam

In the meeting with Mr. Nate Franklin, Founder and Chairman of Pacifico Energy Corporation, General Secretary and President To Lam appreciated the corporation’s contributions and successful investment and business cooperation in the world and in Vietnam in the past. He also encouraged Pacifico Energy’s new investment plans in energy transition projects in Vietnam in the future.

General Secretary and President To Lam and Mr. Nate Franklin, Founder and Chairman of Pacifico Energy Corporation

Stating that Vietnam is a responsible country in environmental protection and respects its commitment to the net-zero emission target by 2050, the General Secretary and President proposed that Pacifico Energy accelerate the implementation of ongoing projects and wished that the corporation would have more projects in Vietnam.

The General Secretary and President emphasized that the Party, State, and people of Vietnam commit to creating all favorable conditions, in accordance with the law, for US investors in general and Pacifico Energy Corporation in particular, to do effective and sustainable business and investment in Vietnam.

Thanking the General Secretary and President for his time, Mr. Nate Franklin informed that Pacifico Energy is a US renewable energy investor with many projects in Asia, including being the largest investor in this field in Japan. The corporation has also been present in Vietnam since 2017 and is proud to be the first renewable energy enterprise to complete projects in Vietnam, such as wind and solar power.

Mr. Nate Franklin affirmed his understanding of Vietnam’s energy needs to realize its development goals in the new phase and committed to continue coordinating with partners to effectively implement the projects.

The leader of Pacifico Energy Corporation evaluated that Vietnam has many geographical and topographic advantages for developing clean energy and committed to continuing to develop projects in Vietnam, ensuring energy security for Vietnam’s economic development. He also believed that Vietnam could still achieve its offshore wind power planning goals for 2030.

Google is expanding skills training in Vietnam to enhance AI cooperation

At the meeting with Mr. Karan Bhatia, Vice President for Government Affairs and Public Policy of Google, General Secretary and President To Lam emphasized that the continued expansion of Google and its partners’ investment and business activities in Vietnam demonstrates the country’s increasingly important position, both in terms of supply chain reinforcement and market development for the corporation’s products.

The General Secretary and President underlined that Vietnam would create a conducive business environment for US businesses with orientations that align with Vietnam’s development goals.

Affirming that the Vietnamese government always facilitates US businesses, the General Secretary and President requested Google to continue advocating and guiding its suppliers within the corporation’s supply chain to expand investment and business activities in Vietnam and support the enhancement of capabilities for Vietnamese businesses to participate in the corporation’s supply chain.

According to the General Secretary and President, developing a high-quality workforce is one of Vietnam’s three strategic breakthroughs in the current period, especially in the fields of biotechnology, artificial intelligence (AI), chips, and semiconductors, along with promoting scientific research, technology development and application, innovation, and entrepreneurship.

The General Secretary and President, To Lam, also welcomed Google’s proposal for cooperation in AI training and expressed his hope that Google would coordinate with the National Innovation Center and relevant agencies, institutes, and universities in Vietnam to implement specific and effective cooperation projects, bringing practical benefits to both sides.

The General Secretary and President also highly valued the corporation’s proposal for cooperation in the field of cybersecurity, which is of particular importance in the context of the strong impact of the Fourth Industrial Revolution on all areas of the economy.

Thanking the General Secretary and President for his time, Mr. Karan Bhatia affirmed Google’s commitment to cooperation with Vietnam and informed that this year, the corporation had opened a new office in Ho Chi Minh City and operated efficiently in Vietnam with a phone manufacturing facility and other component production.

Mr. Karan Bhatia expressed his desire to continue exploring cooperation with Vietnam in AI development, one of Google’s strengths, which could be very beneficial to Vietnam. The Google leader shared the corporation’s approach to AI, including building models, applying technology to Google’s own products, and supporting both the public and private sectors in applying AI to their activities.

According to Mr. Karan Bhatia, Google is expanding skills training in Vietnam to enhance AI cooperation and will subsequently provide advice on the policy and legal environment to optimize AI development, typically in data transfer service licensing. Google also expected to support Vietnam in cloud services combined with AI and cooperate in the field of cybersecurity.

Nhat Quang

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