HANOI - Elon Musk's SpaceX plans to invest $1.5 billion in Vietnam in the near future, the government of the Communist-run nation said on Thursday, which could help resolve a stalemate over the launch of its Starlink satellite services there.
The remark followed the leader's meeting in New York with SpaceX government affairs official Tim Hughes, who said the company planned to invest $1.5 billion in Vietnam, a promising market for its satellite internet service, the report added. Last year's talks were stymied by questions about ownership of the company SpaceX would have to set up in Vietnam, which limits foreigners' holdings in such firms to half, while SpaceX wanted at least a controlling stake, sources had told Reuters.Vietnam also requires data to be stored domestically, with strict controls on what is visible online.