Vietnam plans to launch its first telecom satellite in 2008, according to a Feb. 22 report from the Vietnam News Agency.

The Vinasat spacecraft will be owned by the Vietnam Post and Telemat Corp.

EADS Astrium/Alcatel Alenia Space, Lockheed Martin Commercial Space Systems and Japan’s Sumitomo Corp. are competing to build the satellite, while Telesat Canada is providing Vietnam Post and Telemat with consultation services on the satellite purchase, Vietnam News Agency said.