Thaigroup to Invest in Space Tourism in Vietnam

Feb 2022

Thaigroup, through its subsidiary ThaiSpace, is seeking to invest VND 30 trillion (USD 1.3 billion) into a tourism spaceport project in Phu Quoc City in Kien Giang Province. ThaiSpace’s mission will be to conduct the first space voyage from Phu Quoc. The group has written to the Kien Giang government proposing allowing it to conduct a location study to develop a tourism spaceport in Phu Quoc City.

The spaceport project, which will be carried out in the 2022-2026 period, is aimed at developing Phu Quoc into an international tourism service hub. According to Thaigroup, the establishment of a spaceport for tourism will be a historic breakthrough, bringing massive benefits for the tourism industry and boosting the country’s socio-economic growth in the future.

ThaiSpace’s total planned charter capital is USD 116 million. ThaiHoldings’ projected capital contribution is around 5% of ThaiSpace’s total charter capital. Additionally, the business intends to seek cash via the US stock market, with an IPO planned for 2022 if qualified.

(Sources: The Saigon Times: Vietnam Investment Review)

About Us

Orissa International helps companies that want to develop a market entry strategy for Southeast Asia or implement their business expansion into the region. We have very strong domain knowledge of markets and industry sectors, and a business network of over 16,000 companies that includes distributors, resellers, system integrators and local manufacturers, that we have built through advising and guiding more than 5,000 companies with their market expansion into the ASEAN region over the last 25 years.

Orissa International is headquartered in Singapore, with additional offices in Malaysia, Indonesia, Thailand, Vietnam, and the Philippines.

Our Services