The aerospace company VinSpace, founded by billionaire Pham Nhat Vuong, has announced plans to launch its first small satellite into orbit as early as 2027. The project is being implemented with the support of Vietnam's largest private corporation, Vingroup, which is the second-largest shareholder in the company.
According to Vingroup's 2025 annual report, VinSpace is actively preparing for the launch: creating “clean rooms,” developing testing equipment, and forming a network of ground stations. All these elements should ensure the successful launch of the satellite into orbit within the stated timeframe.
The company also plans to collaborate with Vietnamese and international partners in the field of research and development. In the future, VinSpace intends to commercialize services in the field of telecommunications and Earth remote sensing.
Previously, the state-owned Vietnam National Space Center had already created and launched microsatellites – in 2013 and 2021. They are used for data transmission and scientific research.
VinSpace was founded in November 2025. The company has licenses for a wide range of activities, including cargo air transportation, the production of aircraft, spacecraft, and telecommunications satellites. The controlling stake belongs to Pham Nhat Vuong (71%) and Vingroup (19%), with the remaining share held by his sons.
In the technology sector, Vingroup also owns the robotics companies VinRobotics, VinDynamics, and VinMotion, the cybersecurity companies VinSOC and VinCSS, as well as the software developer VinSmart Future.