Billionaire investor Elon Musk’s SpaceX has secured entry into Vietnam with its Starlink satellite internet service as U.S. tariff tensions rise. Vietnam is introducing new regulations on foreign ownership of local subsidiaries, clearing the path for SpaceX’s expansion while the country navigates its economic interests amid trade uncertainties. Starlink operates as a fully owned division of SpaceX, the aerospace firm led by Musk.
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Vietnam’s Starlink Approval Seen as Goodwill Gesture
According to a source familiar with the matter, Vietnam’s sudden policy shift may be seen as a goodwill gesture toward SpaceX, as the country remains cautious about potential tariff threats from U.S. President Donald Trump. The proposed rules, which will be reviewed by parliament in a special session on Wednesday, will allow foreign companies to fully control internet service providers using low-orbit satellites. This will be part of a trial program until the end of 2030.
Previously, SpaceX’s entry into Vietnam, a country with significant economic potential, was hindered by restrictions on foreign control. In September 2024, the Vietnamese government announced that SpaceX is planning to invest up to $1.5 billion in the country. This regulatory change is designed to promote scientific and technological growth while aligning with Vietnam’s growing interest in reducing its surplus with the U.S.
Additionally, widespread adoption of Starlink by Vietnamese firms and individuals could help reduce the country’s large trade surplus with the U.S. According to the U.S. data, Vietnam’s surplus reached a record $123.5 billion, making it the fourth largest among U.S. trade partners. Notably, Trump aides have indicated last week that countries with significant trade imbalances will be under close scrutiny.
Musk’s Other Venture, Tesla, Hits a Bump
Among Musk’s many ventures, Tesla (TSLA) is the only publicly traded company. News and events surrounding Musk’s other ventures, like SpaceX and X, often impact Tesla’s stock.
Year-to-date, TSLA is down 12%, influenced by Musk’s political involvement, including backing U.S. President Trump and his rising influence in Europe. Additionally, declining sales in Europe and China have pressured the stock. Interestingly, Tesla’s stock decline in 2025 comes after an impressive 70% rally in 2024.
Is Tesla a Good Stock to Buy Right Now?
Wall Street analysts remain neutral on Tesla stock. According to TipRanks, TSLA stock has received a Hold consensus rating, with 13 Buy, 12 Hold, and 10 Sell ratings. The average price target for Tesla shares is $340.50, suggesting a potential downside of 4.31% from the current level.
