Amazon to Invest $570M in Vietnam for Satellite Internet Expansion

Amazon plans to invest $570 million in Vietnam by 2030 to launch its Kuiper satellite internet service. The project aims to provide broadband internet connectivity to underserved regions, including remote areas and islands, through a network of low Earth orbit satellites. This initiative competes with SpaceX's Starlink project. Amazon shares rose by 0.2% following the announcement.

Amazon (NASDAQ:AMZN) has announced plans to invest $570 million in Vietnam by 2030 to launch its Kuiper satellite internet service. The initiative, which involves deploying low Earth orbit satellites, aims to provide broadband internet connectivity to underserved regions, including remote areas and islands. This move follows a meeting in Hanoi between deputy minister Pham Duc Long and Gonzalo de Dios, head of Global Licensing and Project Kuiper at Amazon.

The Vietnamese government has given its approval for Amazon to establish a local entity, Amazon Kuiper Vietnam Co., Ltd., based in Ho Chi Minh City. The company plans to build infrastructure, including up to six ground stations and terminal manufacturing in the northern province of Bac Ninh, through local partnerships. The investment will also cover the establishment of a pilot program seeking approval for a five-year rollout to serve consumer, business, and government subscribers.

Amazon's Kuiper initiative is set to compete with SpaceX's Starlink project, which has also been given the go-ahead by the Vietnamese government to operate a similar scheme over the same five-year period. The first 27 satellites for Amazon's Kuiper initiative were launched into space from Florida in April, marking the long-delayed deployment of an internet-from-space network.

Following the announcement, Amazon shares rose by 0.2% [2].

References:
[1] https://seekingalpha.com/news/4489388-amazon-plans-to-roll-out-kuiper-satellite-services-in-vietnam
[2] https://economictimes.indiatimes.com/news/international/business/amazon-aiming-to-deploy-kuiper-satellite-services-in-vietnam/articleshow/123542280.cms?from=mdr