Vietnam plans to adopt rules that would allow Elon Musk's Starlink to provide satellite internet services in the country while maintaining full ownership of any local subsidiary, a draft of the regulations shows.

Billionaire investor Elon Musk’s SpaceX has secured entry into Vietnam with its Starlink satellite internet service as U.S. tariff tensions

Vietnam plans to allow Elon Musk’s Starlink (STRLK) satellite internet service to operate within its borders, marking a significant development in its telecommunications landscape, Reuters reported, citing a regulations draft and people with knowledge of the matter.

Vietnam plans to allow Starlink full ownership, easing entry amid US tariff concerns and efforts to reduce its trade surplus.

Vietnam plans to allow Starlink to offer satellite internet services, adopting rules for foreign ownership of local subsidiaries. This move reflects a shift in stance, easing SpaceX's entry amid US tariff threats.

Vietnam's National Assembly on Wednesday approved raising the economic growth target for this year and backed major infrastructure projects, including a rail link to China and the construction of the country's first nuclear power plants.

Vietnam’s sudden policy shift reflects its nervousness about Donald Trump’s tariff threats and aims to reduce Hanoi’s trade surplus with Washington.