With its strong capacity as a leading provider of satellite and telecommunications services—particularly following the successful partnership with Lockheed Martin on the VINASAT-1 project—Lockheed Martin continues to be the selected partner for VINASAT-2. The company will supply the satellite, control station equipment, and launch services.

Under the agreement, the VINASAT-2 satellite will be manufactured by Lockheed Martin based on the A2100 platform and delivered in orbit at the 131.80E orbital position within 24 months from the contract’s effective date. VINASAT-2 will carry 24 Ku-band transponders (36 MHz bandwidth each). After optimizing the satellite's design, Lockheed Martin has committed that VINASAT-2 can support up to 25 transponders toward the end of its lifespan. The satellite will cover Southeast Asia and neighboring countries, with a designed life expectancy of 15 years. The chosen production technology is modern, stable, and well-proven.

The VINASAT-2 project aims to fulfill the national strategic objective of enhancing telecommunications infrastructure capacity and meeting growing satellite demand in domestic and regional markets—areas that VINASAT-1 and other regional satellites cannot or struggle to serve. As of now, VINASAT-1 has been utilized up to 80% of its capacity. It is expected that the remaining capacity will be fully exploited in 2010–2011, while satellite service demand continues to rise. Therefore, the launch of VINASAT-2 will help capitalize on market opportunities both domestically and regionally.

According to Mr. Joe Rickers, Vice President of Lockheed Martin, VINASAT-2 will be produced using world-class technology standards and is expected to become one of the most efficient satellites in operation. He also affirmed that Lockheed Martin would begin project implementation in May 2010 to ensure VINASAT-2 is launched on schedule.

Together with VINASAT-1, VINASAT-2 will form a satellite system capable of providing redundancy in capacity and mitigating risks between satellites. This enhances the safety and stability of service delivery, optimizes the use of orbital spectrum resources at the registered 131.80E position, strengthens national telecommunications security, and brings widespread benefits to society.

Furthermore, the VINASAT-2 project will contribute to the development of Vietnam’s satellite telecommunications industry, meet growing customer demand, support VNPT’s long-term strategy in satellite information services, and improve the capabilities of technical personnel in modern satellite communications. It also aligns with Vietnam’s national space technology development strategy.

Speaking at the contract signing ceremony, Minister of Information and Communications Mr. Lê Doãn Hợp highly praised VNPT’s efforts in successfully operating and commercializing VINASAT-1. He expressed hopes that VNPT and Lockheed Martin will continue this success with VINASAT-2—ensuring timely implementation, high quality, and strong economic effectiveness.

VNPT Chairman Mr. Phạm Long Trận emphasized that being entrusted by the Prime Minister to lead the VINASAT-2 project is a great honor for VNPT. It also reflects VNPT’s growing stature as a key enterprise in Vietnam’s postal, telecommunications, and ICT sectors.

Immediately after the contract signing, VNPT held a press conference to announce the project. The event was attended by over 100 journalists from central and local media outlets, as well as international news agencies. During the press conference, VNPT and Lockheed Martin representatives answered numerous questions about investment capital, implementation steps, and the business plan for VINASAT-2 upon deployment