VinSpace, the aerospace subsidiary of Vietnam’s conglomerate Vingroup, is developing nanosatellite technology with plans to launch its first satellites into orbit by 2027, as part of efforts to build a domestic space industry supporting socio-economic development.

According to parent firm Vingroup’s annual report 2025, VinSpace is focusing on research and development of “Make in Vietnam” nanosatellite constellations for applications including telecommunications and remote sensing. VinSpace is building in-house manufacturing capabilities while investing in supporting infrastructure such as cleanroom facilities, testing equipment, and ground station systems to meet development timelines.

The aerospace company is expanding research collaborations and advancing satellite technology applications with both domestic and international partners, aiming to create an integrated technical, operational, and commercial ecosystem. The initiative is expected to support the eventual commercialization of satellite-based services, as VinSpace works to expand its market presence and establish a foundation for long-term growth in the sector, according to Vingroup.

VinSpace was established in November 2025 with a charter capital of VND300 billion ($11.3 million), according to its business license recorded on the national business registration portal. Vingroup is a stakeholder with a 19 percent stake. Others are Vingroup founder and chairman Pham Nhat Vuong with 71 percent, Vuong’s sons Pham Nhat Quan Anh and Pham Nhat Minh Hoang with 5% each.

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