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VinSpace, a company founded by billionaire Pham Nhat Vuong, plans to manufacture and launch its first microsatellite into orbit in 2027. The plan is outlined in Vingroup's 2025 annual report, the second-largest shareholder of VinSpace Joint Stock Company. In addition to manufacturing and launching satellites, Vuong's enterprise is building cleanroom facilities, testing equipment, and ground station systems to ensure the project progresses on schedule. VinSpace plans to cooperate with domestic and international partners to research and develop an aerospace ecosystem. The company also aims to commercialize telecommunications and remote-sensing services. Before VinSpace, the Vietnam Space Center was the only domestic unit to successfully manufacture microsatellites, which were launched into orbit in 2013 and 2021. These satellites can be used for imagery, Earth observation, supporting data transmission, and scientific research. VinSpace was established by Pham Nhat Vuong on November 3, with a charter capital of 300 billion dong. The company operates in six sectors, notably aircraft manufacturing, spacecraft, telecommunications satellites, and air cargo transport. Vuong currently holds 71% of VinSpace's charter capital. Vingroup is the second-largest shareholder, owning 19%. The remaining stake is held by Pham Nhat Quan Anh and Pham Nhat Minh Hoang, Vuong's two sons. Beyond VinSpace, the Vingroup ecosystem includes many technology companies such as VinRobotics (industrial robots), VinSmart Future (software), VinSOC, VCSS (cybersecurity), VinDynamics (humanoid robotics), and VinMotion. Prior to investing in aerospace, Vingroup participated in the aviation sector with the Vinpearl Air project in 2019. However, it exited this sector in 2020.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…