3 min read Last Updated : Sep 26 2024 | 11:30 AM IST Listen to This Article 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. 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, although they resumed later. Such a step may not go down well with Beijing, however Investing where? Thursday's news follows a report this month on the government portal that cited Hughes as saying SpaceX aimed to provide Starlink services to the Southeast Asian nation, after the two sides had resumed talks. At the time, Hughes, the company's senior vice president for global business and government affairs, said SpaceX's deployment of internet services in Vietnam aimed mainly to benefit education and disaster prevention efforts, state media reported. Last year's talks were stymied by questions about ownership of the company SpaceX would have to set up in Vietnam, which limits foreigners' holdings in such firms to half, while SpaceX wanted at least a controlling stake, sources had told Reuters.