Vietnam Pm Pledges Quick Licensing for Musk's Starlink, More Imports
Vietnam's Prime Minister Pham Minh Chinh said the government wanted to rapidly issue a licence for Elon Musk's Starlink to provide satellite internet in the country under a pilot scheme, aiming to address trade surplus concerns with the U.S. and bolster its economic growth. The Vietnamese government is seeking to rebalance its trade surplus with the U.S., which has contributed to a record trade surplus last year, making the Southeast Asian nation vulnerable to reciprocal tariffs. Chinh's comments came during meetings with nearly 40 U.S. businesses in Hanoi, where he also discussed measures to reduce the country's commercial surplus.
- The rush to issue a license for Starlink could be seen as a strategic move by Vietnam to diversify its internet infrastructure and reduce dependence on traditional fiber-optic cables, which are still in short supply.
- Will this new wave of foreign investment lead to increased competition for local businesses, potentially altering the country's economic landscape in ways both visible and unseen?