According to its 2025 annual report, Vingroup has outlined a new business direction focused on commercialising satellite applications.
Its subsidiary, VinSpace, was established in November 2025 with initial charter capital of VND 300 billion (approximately USD 12 million).
The company is registered to operate across six core areas, including scientific research and technological development in natural and engineering sciences, manufacturing of aircraft and spacecraft, air cargo transport, satellite telecommunications and related services.
Pham Nhat Vuong aims to launch Vietnam's first private satellite into space from 2027 (Illustration: Techgenez).
The move marks the entry of Pham Nhat Vuong into the capital intensive and highly complex space technology sector. In Vietnam, previous ambitions in this field have faced delays, highlighting the challenges involved.
Under its strategic plan, VinSpace will focus on researching and manufacturing a cluster of “Make in Vietnam” nano satellites, with the goal of providing telecommunications and remote sensing services to support socio economic development.
The company said it is gradually building its capabilities in satellite manufacturing and aims to place Vietnam’s first privately developed nano satellites into orbit by 2027. To meet this timeline, VinSpace is accelerating the construction of cleanroom facilities, testing equipment and ground station systems to ensure progress remains on track.
Alongside in house development, the company is also strengthening technology transfer partnerships with domestic and international partners to build a complete ecosystem covering engineering, operations and service deployment.
Based on this foundation, Vingroup aims to commercialise satellite services, expand its presence in space based telecommunications and create a new long term growth driver, while enhancing the resilience of its broader digital ecosystem.
