Tech Giants: Minister Appeals to SpaceX, Google, and Two Other Industry Leaders to Boost Investments in Vietnam

During a working session with Excelerate Energy Group (US), Minister of Industry and Trade Nguyen Hong Dien affirmed that Vietnam encourages Excelerate to engage in the development of liquefied natural gas (LNG) infrastructure and market in Vietnam.

According to the Power Development Plan VIII, Vietnam will construct 14 gas-fired power plants in the coming years. Thus, Vietnam is also facilitating LNG businesses by reducing the import tax on LNG from 5% to 2%.

Mr. Peter Haas, Vice President of Excelerate Group, proposed three specific cooperation orientations: investing in and developing LNG infrastructure, ensuring a stable LNG supply, and establishing a joint venture with a Vietnamese partner to expand the market, aiming to make Vietnam the LNG distribution center of the ASEAN region.

At the working session with Lockheed Martin Corporation, Minister Nguyen Hong Dien appreciated the corporation’s cooperation with the Vietnamese telecommunications industry through successful projects such as VINASAT-1 (2008) and VINASAT-2 (2012) satellites.

The Minister emphasized that Vietnam is preparing a plan to launch a new-generation satellite by late 2026. Vietnam wishes to expand cooperation in potential areas such as aerospace, digital infrastructure development, enhancement of space sovereignty, and improvement of national telecommunications capacity. Vietnam also aims to explore flexible cooperation models and participate in Lockheed Martin’s production supply chain in the future.

Representing Lockheed Martin, Ms. Nancy Ziuzin, Vice President for International Government Affairs, Global Business Development, and Strategy affirmed the commitment to accompany Vietnam’s development in key fields such as aviation, aerospace, and defense technology. The two sides agreed to strengthen the establishment of regular cooperation mechanisms, information sharing, and promotion of technology transfer projects.

At the working session with SpaceX Corporation, led by Vice President Tim Hughes, SpaceX affirmed its strong commitment to investing in and developing telecommunications infrastructure in Vietnam through the Starlink satellite internet service project.

SpaceX will invest approximately USD 1.5 billion to provide broadband internet connectivity nationwide, especially in remote, border, and island areas. In the initial phase, SpaceX plans to build 10 to 15 ground stations in Vietnam and commit to providing modern, stable, and reasonably priced telecommunications services to improve connectivity for millions of Vietnamese people, especially in areas with difficult access to traditional networks.

SpaceX emphasized that Vietnam is a strategic market in Starlink’s global service expansion orientation.

At the working session with Google Corporation, the Minister requested Google to actively coordinate with domestic partners to evaluate the possibility of localizing input materials and expanding and diversifying supply sources from countries in the region.

The Ministry of Industry and Trade committed to supporting Google in connecting with domestic businesses, providing information, and considering supportive policies on infrastructure, logistics, and taxes if Google determines to expand investment or enhance supply chain capacity in Vietnam. Google appreciated Vietnam’s support for its investment and business activities and committed to accompanying Vietnam in the current trade negotiation process with the US.

Minister Nguyen Hong Dien requested the large US corporations to convey a message to the Trump administration, expressing Vietnam’s desire for the US to work together to resolve existing issues in economic and trade relations, recognize Vietnam’s market economy, and remove Vietnam from the lists of countries subject to restrictions on exports of high-tech products (D1 and D3).