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)