U.S. Satellite Export Meeting Telecommunications Needs in Southeast Asia

Photo courtesy of Lockheed Martin Space Systems Company.

Like many populations throughout the world, the people of Vietnam have a growing need for telecommunications services, television content and greater access to information. On May 15, 2012, the VINASAT-2 satellite was launched into orbit. Equipped with a payload of 24 active transponders, the new satellite is providing telecommunications coverage to Vietnam, Cambodia, Laos and Thailand.

This access to 21st-century telecommunications was made possible by an Ex-Im Bank direct loan of $118 million to the government of Vietnam for the export of the satellite from Lockheed Martin Space Systems Company and additional goods and services. The loan was Ex-Im Bank’s first satellite transaction with the Vietnamese government. According to Lockheed Martin, it financed $215 million in export sales and supported approximately 525 jobs in the United States.

“By providing financing for Vietnam Post and Telecommunications Group, this Ex-Im Bank loan supports U.S.-manufactured satellites and U.S. jobs,” said Linda Reiners, president of Lockheed Martin Space Systems Commercial Ventures.