HANOI ― Elon Musk's SpaceX plans to invest $15 billion in Vietnam, the country's official news agency said, as the country looks to boost its attractiveness as an investment destination for the world's biggest companies.

SpaceX wants to invest US$1.5 billion in Vietnam, where it sees great potential for satellite Internet development.

Months of talks on the offer of Starlink's satellite internet connection and other communications services were put on hold at the end of 2023, sources familiar with the matter had told Reuters earlier this year,

SpaceX is proposing to invest $1.5 billion in Vietnam tied to its Starlink satellite service in the near future, the government said, citing a meeting between the company’s Senior Vice President Tim Hughes and the Communist Party’s General Secretary To Lam.

SpaceX plans to invest $1.5 billion in Vietnam, potentially resolving a stalemate over its Starlink satellite services. Talks had stalled but resumed later. Vietnam's government is considering the proposal,

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.