Beyond Horizons
Trailblazing Tales from Asia
Your exclusive gateway to the latest developments across transportation and space, and most importantly, how to finance it all - debt, equity, and defi! We follow and forecast where the money’s at.
Join us as we navigate through the latest roundup to uncover key developments across the region.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**
Events
Global Space Technology Convention and Exhibition
The 17th edition of the Global Space Technology Convention and Exhibition (GSTCE) will take place on 26-27 February 2025 at the Sands Expo and Convention Centre, Marina Bay Sands, Singapore.
The event will focus on space commercialization as a key economic driver, with nearly 1,000 delegates from over 40 countries.
Learn more about the event here.
Business Aviation Asia Forum and Expo (BAAFEx)
The first-ever Business Aviation Asia Forum and Expo (BAAFEx) will take place from March 4-6, 2025, at the Changi Exhibition Center in Singapore. Organized by Xperia Events, BAAFEx is set to be the premier gathering for the business aviation sector, bringing together key stakeholders.
BAAFEx will feature aircraft on static display from major players, including Boeing Business Jets, VistaJet, and Amber Aviation. VistaJet will showcase its flagship Bombardier Global 7500, while Amber Aviation will present a Gulfstream G450.
The event will feature a dynamic exhibition, offering the latest innovations and services from top aviation companies. Expert panels and keynote speakers will provide insights into the trends and challenges in business aviation.
IMDEX Asia 2025
IMDEX Asia 2025, held from May 6-8 at the Changi Exhibition Centre in Singapore, is a key event for the naval and maritime defence industry. The exhibition will showcase a wide range of technologies, from traditional sectors like shipbuilding and armaments to new innovations in cybersecurity, unmanned systems, and surveillance.
The event also features conferences and forums where professionals can discuss the latest trends in maritime security and defence. The popular Warships Display at Changi Naval Base allows visitors to explore warships and interact with naval officials.
Learn more about IMDEX Asia 2025 here.
Summary
Financing & Investments: AIIB Raises HK$4 Billion in Hong Kong Dollar-Denominated Bond Offering; Spyne Raises USD 16 Million in Series A to Expand AI-Powered Automotive Retail Solutions; IDB Invest, Japan International Cooperation Agency Launch $1 Billion Fund for Latin America; Qatar Pledges $10 Billion Investment in India; MariBank Launches Mari Invest Income for Singaporean Investors; Singapore to Invest S$1 Billion in Semiconductor R&D and Boost Key Infrastructure; Robinhood to Launch Crypto Services in Singapore by 2025; and South Korea Secures 10,000 GPUs to Accelerate National AI Computing Center
Environmental Sustainability: UN Report Warns Asia-Pacific Lagging on SDGs; Australia Allocates $50 Million for Community Energy Upgrades Fund; IATA and 123Carbon Partner to Improve SAF Registry Interoperability; Study Finds Aircraft Efficiency Gains Stagnating, Calls for Stricter ICAO Standards; Indonesia, Norway Extend Climate Partnership Until 2030; FatHopes Energy Partners with Topsoe to Develop SAF Refinery in Malaysia; and Christchurch Airport Introduces New Electric Fire Truck
Aviation: ACCC Proposes Approval for Virgin Australia and Qatar Airways Alliance; Pilots' Group Alleges Air India and IndiGo Won’t Hire Each Other’s Pilots; Fairfax India Raises Stake in Bangalore Airport to 74% with $255M Deal; Air New Zealand Warns of Jet Groundings, Reports 18% Profit Drop; Singapore Poised to Break Tourism Records, Leading Southeast Asia's Growth; and Thai Airways Set to Exit Bankruptcy, Appoint New Board
Advanced Air Mobility: China's AS700D Electric Airship Completes Maiden Flight; and ePlane Secures $1B Deal to Supply 788 eVTOL Air Ambulances in India
Marine: New Container Shipping Service Enhances Trade Between China and Vietnam; Global Shipping Faces Financial Hurdles in Decarbonization Efforts; India Expands Maritime Ties with CMA CGM, MSC, and Maersk; AAL Shipping Chooses ABB Ability™ OCTOPUS for Enhanced Heavy Lift Operations; South Korea Expands Eco-Friendly Ship Certification Standards; and South Korea Focuses on "Ocean Digital" at Upcoming Maritime Conferences
Space: Australia Backs Moon to Mars Initiative with $3.6M in Grants; China Advances Commercial Spaceflight with New Launches and Global Partnerships; India Launches $57.58M Fund to Boost Space Startups; Malaysia Strengthens Space Governance with New Regulations; Philippine Space Agency Submits Experiments for ATZG 2025 Competition; Thai MP Calls for Investigation into Misuse of Satellite Internet by Call Center Gangs; and Vietnam to Allow Starlink Pilot Scheme Amid U.S. Tariff Concerns
Financing & Investments
Hong Kong
The Asian Infrastructure Investment Bank (AIIB) successfully raised HK$4 billion (US$549 million) through a three-year Hong Kong dollar-denominated bond offering. The senior unsecured fixed-rate sustainable development bonds carry an annual coupon of 3.847% and were issued in Hong Kong’s Central Moneymarkets Unit (CMU).
💡The bonds attracted HK$9 billion in demand, with over 25 orders, showcasing strong interest from investors across Asia-Pacific. This issuance marks the first Hong Kong dollar public bonds priced at a spread to the Hong Kong interbank offered rate, providing pricing transparency and interest-rate risk hedging.
India
Spyne, an AI-driven visual merchandising platform for the automotive industry, has secured USD 16 million in Series A funding, led by Vertex Ventures. Existing investors Accel, Storm Ventures, and Alteria Capital also participated in the round.
Founded in 2020, Spyne initially served multiple industries but pivoted in 2023 to focus solely on the automotive sector. The company offers car dealerships an affordable platform for creating high-quality images, 360-degree videos, and automated marketing content.
💡With 70% of its business coming from the US, Spyne aims to expand further into EMEA and APAC markets.
Japan-Latin America
IDB Invest and the Japan International Cooperation Agency (JICA) have announced a $1 billion contribution to establish the JICA Trust Fund Achieving Development of Latin America and the Caribbean (TADAC), aimed at boosting private investment and driving sustainable growth in the region.
💡TADAC, Japan International Cooperation Agency’s largest private-sector fund in Latin America, will co-finance projects, leveraging IDB Invest’s expertise to streamline investments and mobilize capital. The fund may expand to $1.5 billion after three years, further bridging the region’s financing gap.
Qatar-India
Qatar has committed to investing $10 billion in India across multiple sectors, including infrastructure, technology, manufacturing, and energy, following Emir Sheikh Tamim bin Hamad Al-Thani’s visit to New Delhi. The two nations aim to double bilateral trade to $28 billion within five years and are exploring a free trade agreement.
💡Qatar, which supplied 48% of India’s LNG imports last year, will also strengthen energy cooperation with India, including mutual investments in energy infrastructure and potential trade settlements in local currencies.
Singapore
MariBank has introduced Mari Invest Income, a new investment product designed to provide Singaporean investors with consistent income through global bonds. This offering allows both new and experienced investors to invest with a minimum of just S$1 and no transaction fees.
Unlike Mari Invest SavePlus, which offers low-risk with an instant cash-out feature, Mari Invest Income is geared towards investors seeking steady monthly dividend payouts rather than long-term growth. It provides access to the PIMCO GIS Income Fund Admin SGD Hedged – Inc share class, which has delivered an annualized return of 4.09% and a dividend yield of 6.49% as of 31 December 2024.
💡The product is available on an invite-only basis and will be expanded to more customers in the future.
Singapore
Singapore will invest S$1 billion in a new semiconductor R&D facility to drive innovation in AI and quantum computing. The government also allocated S$5 billion each to the Changi Airport Development Fund, Future Energy Fund, and Coastal & Flood Protection Fund for aviation growth, clean energy, and climate adaptation. A new S$1 billion private credit fund will support high-growth local enterprises.
💡Moreover, tax incentives for local stock listings and fund managers aim to revive the stock market and boost Singapore’s economic competitiveness.
Singapore
Robinhood Markets plans to roll out cryptocurrency services in Singapore by late 2025, following its acquisition of Bitstamp in 2024. The expansion, subject to regulatory approvals, will leverage Bitstamp’s in-principle approval from the Monetary Authority of Singapore.
💡This move is part of Robinhood’s broader Asian expansion strategy, with Singapore serving as its regional headquarters. The company has already launched crypto trading in Europe and the UK, and aims to introduce services in Asia by 2025.
South Korea
South Korea will acquire 10,000 high-performance GPUs this year to fast-track the launch of a National AI Computing Center, set to open in 2027, the Ministry of Science and ICT announced. An additional 8,000 GPUs will be procured to build the country’s sixth supercomputer.
The National AI Computing Center will feature an initial 1-exaflop computing power, expanding to 2 exaflops with private investment. The government plans to establish a special-purpose company with 400 billion won ($277 million) in initial funding, structured with 51% public and 49% private ownership, with total anticipated investments reaching 2 trillion won.
💡This year, South Korea has increased its AI budget by 25% to 1.8 trillion won.
Environmental Sustainability
Asia-Pacific
The 2025 SDG Progress Report by the UN Economic and Social Commission for Asia and the Pacific (ESCAP)highlights slow progress and persistent data gaps hindering policy action.
Key challenges include severe stagnation in quality education (Goal 4), decent work and economic growth (Goal 8), and responsible consumption and production (Goal 12), driven by fossil fuel subsidies, low literacy rates, and unsustainable production. Climate action (Goal 13) has regressed alarmingly, with Asia-Pacific responsible for half of global GHG emissions.
💡Despite these setbacks, the report notes progress in industry, innovation (Goal 9) and health (Goal 3), fueled by expanded mobile networks and improved maternal and infant health. However, ESCAP warns that bold action and stronger political leadership are essential to meet the 2030 SDG deadline.
Australia
Australia has allocated $50 million (USD 31 million) in Round 1 of the Community Energy Upgrades Fund (CEUF) to nearly 60 local councils for energy efficiency and electrification upgrades.
💡The funding will support projects like solar installations, battery energy storage, EV charging infrastructure, and fleet electrification. 58 councils received grants ranging from $25,000 to $2.5 million, with the largest allocations going to New South Wales ($15.3 million), Victoria ($23.9 million), and Queensland ($4.5 million).
Global
The International Air Transport Association (IATA) and 123Carbon have partnered to integrate their sustainable aviation fuel (SAF) registries, enhancing transparency, preventing reporting errors, and streamlining SAF certificate management.
The collaboration focuses on three areas: creating unique SAF batch identifiers, aligning registry data points, and preventing double issuance of certificates. A dispute resolution mechanism will also be established.
💡IATA’s SAF Registry, launching in April 2025, aims to standardize SAF certificates and has support from over 50 organizations. 123Carbon, an independent carbon insetting platform, facilitates managing and transferring Environmental Attribute Certificates (EACs) across transport modes.
Global
A new study by the International Council on Clean Transportation (ICCT) warns that improvements in commercial aircraft efficiency have stalled due to a sharp decline in the certification of new aircraft types. New-type certifications have dropped from six per year in the late 1990s to less than one annually since 2020, when ICAO’s CO2 standard took effect.
ICCT urges ICAO to strengthen the standard, warning that current regulations lag behind state-of-the-art technology by a decade. The study, released ahead of ICAO’s CAEP/13 meeting, found that some of the newest aircraft, like the Boeing 787-9 and Airbus A320neo, already exceed the 2028 fuel burn standard by 9%-11%.
💡ICCT recommends tightening CO2 standards by 15%, applying regulations to in-service aircraft, and using carbon pricing to encourage adoption of more efficient models. It also highlights the need for updated data on aircraft efficiency and calls for stricter standards, particularly for freighters, which have seen limited efficiency gains.
Indonesia-Norway
Indonesia and Norway have agreed to extend their climate and forestry cooperation through 2030, focusing on deforestation reduction and sustainable forest management. The partnership has already mobilized $216 million through the Result-Based Contribution (RBC) funding mechanism, supporting forest protection and community welfare initiatives.
💡Beyond financial support, the nations will collaborate on carbon reduction, pollution control, and mangrove and peatland conservation, reinforcing their commitment to global climate action.
Malaysia
FatHopes Energy Sdn Bhd (FHE), Malaysia’s leading biofuel feedstock aggregator, has partnered with Topsoe, a Denmark-based leader in carbon reduction technologies, to explore the development of a SAF refinery. The refinery will use renewable feedstocks like used cooking oil (UCO) and other waste oils to produce advanced biofuels for the aviation sector, aiding in its global decarbonization efforts.
💡Under the MoU, Topsoe will provide catalyst solutions and engineering expertise to assess the feasibility of the refinery. The first phase will focus on evaluating Malaysia as the ideal location for this state-of-the-art SAF facility. FatHopes Energy will leverage its extensive feedstock network to ensure a reliable supply chain. The facility could either be operated by FatHopes Energy or licensed to a third party.
New Zealand
Christchurch Airport has unveiled New Zealand’s first electric fire truck, the Rosenbauer RT, and the first electric fire truck at any airport in the Southern Hemisphere.
The Rosenbauer RT is part of Christchurch Airport’s broader initiative to transition to a zero-emission fleet by 2035, with the corporate fleet already 100% electric. The new truck replaces an existing diesel vehicle, offering enhanced safety while supporting environmental goals.
💡Additionally, Christchurch Airport has signed a deal for a larger electric fire truck, the e-Panther, to be delivered in 2026. The RT features a backup range extender generator, ensuring it remains operational in prolonged emergency situations.
Aviation
Australia
The Australian Competition and Consumer Commission (ACCC) is considering approval for a five-year alliance between Virgin Australia and Qatar Airways, which would allow them to operate 28 new weekly return flights between Doha and major Australian cities. Virgin Australia will use Qatar Airways' aircraft and crew in a 'wet lease' arrangement.
The ACCC believes the partnership will provide public benefits, including increased flight options, better connectivity, and enhanced loyalty programs. Interim authorisation has already been granted for the airlines to market and sell the new services, though the final decision is subject to regulatory approvals.
💡Concerns have been raised regarding the impact on Australian workforce laws, but the ACCC considers the alliance unlikely to harm the local aviation workforce. The commission is seeking feedback before making its final decision by March 7, 2025.
India
The Airline Pilots’ Association of India (ALPA India) has raised concerns over an alleged informal agreement between Air India and IndiGo, not to hire each other’s pilots.
ALPA India, which represents over 800 pilots, has formally approached the Civil Aviation Ministry, urging government intervention to ensure fair hiring practices within the aviation industry. The group claims that such an arrangement could restrict career opportunities for pilots and hinder fair competition in the sector.
💡Both airlines have declined to comment on the matter, with an IndiGo official dismissing the allegations as unfounded. If proven true, the alleged agreement could raise legal and ethical issues related to labor laws and competition regulations, potentially prompting regulatory scrutiny.
India
Fairfax India has acquired an additional 10% stake in Bangalore International Airport Limited (BIAL) from Siemens Project Ventures for $255 million, increasing its total ownership to 74%. The deal, signed in December 2024, involves payments in three instalments, with the final payments due in August 2025 and July 2026.
Following the transaction, Fairfax India’s wholly-owned subsidiary now holds 30.4%, while its indirect subsidiary, Anchorage Infrastructure Investments, controls 43.6%. The stakes held by Airports Authority of India and Karnataka State Industrial and Infrastructure Development Corporation remain at 13% each.
💡BIAL, operating under a concession agreement until 2068, manages Bengaluru’s Kempegowda International Airport, India’s first greenfield airport developed through a public-private partnership. Fairfax India, an investment holding company, focuses on long-term capital appreciation through Indian market investments.
New Zealand
Air New Zealand has warned that up to 11 aircraft may remain grounded at times in the second half of fiscal 2025 due to global engine maintenance issues affecting its Airbus neo and Boeing 787 Dreamliner fleets. This is expected to impact full-year earnings.
💡The airline reported a net profit after tax of NZ$106 million ($60.43 million) for the six months ending December 31, an 18% decline from the previous year but above analysts' expectations. Despite ongoing challenges, the carrier announced a NZ$100 million share buyback and a dividend of 1.25 New Zealand cents per share.
Singapore
Singapore is set to surpass its all-time international arrivals record in 2025, with nearly 16 million visitors projected, 9.6% above pre-pandemic levels. India and China are key drivers of this surge, with Chinese arrivals expected to hit a record high.
WTTC President Julia Simpson praised Singapore’s tourism transformation, which is expected to contribute $66.1 billion to the economy in 2024 and support 570,000 jobs. By 2030, contributions could reach $80 billion, with job growth to 637,000.
💡The sector is also focused on sustainability, with Singapore leading in SAF, though it lags behind other countries like the UK and Japan in SAF adoption goals. Southeast Asia’s tourism sector is projected to generate $379 billion in 2024, with continued growth expected by 2030. However, sustainability challenges remain, with low-carbon energy accounting for just 5.5% of the sector’s energy supply.
Thailand
Thai Airways International (THAI) is in the final stages of its rehabilitation plan and preparing to exit bankruptcy proceedings, with trading on the Stock Exchange of Thailand expected to resume in Q2.
The airline has met key milestones, including full debt repayment, capital restructuring, and achieving positive equity of 30-40 billion baht. Profitability has also improved, with a 2024 profit of 15.195 billion baht and 90 billion baht in cash reserves. Debt has been reduced from 150 billion to 80 billion baht.
💡A new board will be appointed, with shareholders set to approve candidates at an April 18 meeting.
Advanced Air Mobility
China
On February 21, the AS700D electric crewed airship, developed by the Aviation Industry Corporation of China (AVIC), successfully completed its maiden flight in Jingmen, Hubei Province. Powered by lithium batteries, the airship utilizes advanced electric drive systems, replacing traditional aviation engines for a low-emission, quiet flight experience.
💡Designed for various applications—including low-altitude tourism, aerial advertising, urban security, and emergency rescue—the AS700D boasts a maximum speed of 80 km/h and a flight altitude of up to 3,100 meters.
India
Indian electric aircraft startup ePlane has signed a $1 billion deal to supply 788 electric vertical takeoff and landing (eVTOL) air ambulances to the International Critical-care Air Transfer Team (ICATT). The agreement aims to enhance emergency response services across every district in India, with commercial operations expected to begin by late 2026.
💡ePlane, incubated at IIT-Madras, has raised $20 million and seeks an additional $100 million for further prototypes, certification, and production. The company has secured Design Organisation Approval (DoA) from India’s DGCA and is also developing an air taxi, initially piloted with future plans for autonomous operations.
Marine
China-Vietnam
A new public container shipping service linking Beibu Gulf Port in China to Hai Phong Port in Vietnam is set to strengthen trade between the two countries and expand connections to northern Vietnam, eastern India, and Bangladesh. The service will facilitate the export of Chinese goods such as glass, paper, and energy storage batteries, while imports will include wood chips, starch, spices, and food products.
💡The service, operating every three weeks, is part of a strategic cooperation between Guangxi Beibu Gulf Port Group and the Vietnam Maritime Corporation (VIMC).
Global
A study by the Danish Maritime Authority (DMA) under the Zero-Emission Shipping Mission highlights the financial challenges of decarbonizing the global shipping fleet. While the industry accounts for 3% of global greenhouse gas emissions, annual CO2 output has grown at a 2% rate since 2012, reaching 830 million metric tonnes in 2023.
Achieving full decarbonization by 2050 requires investments between $8-28 billion annually for vessel upgrades and up to $90 billion per year for fuel infrastructure. Alternative fuels such as green ammonia and methanol, alongside energy-efficient technologies, are key solutions, but financing remains a major barrier due to regulatory constraints, high risks, and fluctuating fuel prices.
💡The study maps global financial support for zero-emission shipping, revealing strong funding opportunities in Europe and North America, while Latin America and Africa face significant gaps. The DMA recommends shipowners explore emerging pilot programs, leverage global initiatives like the Climate Investment Funds, consider private equity, and blend financing mechanisms to reduce costs. Collaboration through public-private partnerships can also improve access to funding.
India
During his state visit to France in February 2025, Indian Prime Minister Narendra Modi discussed the India-Middle East-Europe Economic Corridor (IMEC) with CMA CGM’s CEO Rodolphe Saadé. The project aims to boost trade between Europe and India via improved sea, land, and energy infrastructure. CMA CGM plans to be heavily involved, especially through key Indian ports and dry ports along the IMEC rail route.
CMA CGM also continues its sustainability push with LNG-powered ships, including the CMA CGM Fort Diamant, which became the first LNG-fueled vessel to call at India’s Nhava Sheva Container Terminal in December 2024.
Meanwhile, MSC’s CEO Soren Toft visited India to discuss potential investments in container terminals, eco-friendly shipbuilding, and container manufacturing with Union Minister Piyush Goyal. MSC’s subsidiary in India was recently awarded “Mainline Container Operator of the Year.”
💡Maersk also strengthened its presence in India, signing an MoU with Cochin Shipyard for ship repair, maintenance, and construction opportunities.
Singapore
AAL Shipping, a leading project cargo operator, has selected ABB’s Ability™ OCTOPUS – Marine Advisory System to optimize operations across its fleet of Super B-Class heavy lift vessels. The system, known for its market-leading motion monitoring and forecasting capabilities, will enhance the safety, efficiency, and environmental performance of AAL's fleet.
💡With four 32,000 deadweight tonnage ships in service and four more on the way by 2026, AAL’s vessels are designed for flexibility in transporting heavy, bulky, and high-value cargo under often challenging conditions. OCTOPUS will provide response forecasting, motion monitoring, and route planning optimization, minimizing risks to the vessel and cargo, while improving fuel efficiency and reducing carbon emissions.
South Korea
The South Korean Ministry of Ocean and Fisheries (MOF) has revised its eco-friendly ship and equipment certification system, introducing new standards for environmentally advanced vessel equipment. The updated guidelines, effective February 20, 2025, aim to accelerate vessel decarbonization by including onboard carbon capture and storage (OCCS) and waste heat recovery solutions.
Key changes include official national certification marks for approved ships and higher evaluation scores for non-polluting vessels like electric propulsion ships. Government incentives include subsidies of up to 30% for private eco-friendly ship construction and acquisition tax reductions for certified vessels.
💡Since launching the initiative in 2020, 102 vessels have been certified. To further support industry adoption, MOF plans to invest $152.89 million in 2025 to build or upgrade 81 eco-friendly ships, including electric and hybrid units, as part of South Korea’s broader push for maritime decarbonization.
South Korea
South Korea is prioritizing digital innovation in its bid to host the 2028 UN Ocean Conference (UNOC) and at the upcoming 10th Our Ocean Conference (OOC) in April. The country plans to introduce "Ocean Digital" as a key agenda item at the OOC, aiming to leverage digital technologies to address global ocean challenges. The initiative seeks to explore new solutions for sustainable maritime practices, such as improving marine conservation and enhancing the efficiency of shipping operations through digital tools.
💡The OOC, known as the "Davos of the ocean sector," will bring together global leaders to discuss pressing ocean issues. South Korea’s emphasis on "Ocean Digital" underscores its commitment to advancing maritime sustainability while enhancing its role as a leader in the global maritime community.
Space
Australia
Australia is advancing its Moon to Mars supply chain initiative by awarding $3.6 million AUD ($2.3 million) in grants to five local space companies to support future Artemis missions.
The grants include:
EntX: $1M AUD ($634,000) for a lunar night survival system.
Fleet Space Technologies: $995,000 AUD ($631,000) for gravity sensing for resource exploration.
Advanced Navigation: $856,000 AUD ($543,000) for navigation tech for space operators.
Nominal Systems: $556,000 AUD ($353,000) for virtual satellite testing.
Element Robotics: $257,000 AUD ($163,000) for lunar simulation platforms.
💡The initiative is part of Australia's broader $25 million AUD investment since 2021, with plans to raise funding to $150 million AUD in the coming years. By 2030, the country aims to grow its space sector to 30,000 jobs, triple its contribution to GDP to $12 billion, and attract $1 billion in capital investment
China
China's commercial aerospace sector is gaining momentum with recent advancements in satellite communication, reusable rockets, and international cooperation. On February 11, the Long March-8A rocket successfully launched a group of low Earth orbit (LEO) satellites from Wenchang, Hainan, marking a transition to high-frequency commercial launches.
At the 2nd Beijing Commercial Space High-quality Development Conference, Beijing E-Town officials announced plans for over 40 space launches in 2025, deploying approximately 130 satellites. A live demonstration showcased LEO satellite connectivity, highlighting progress in space-to-ground communication. Beijing-based GalaxySpace signed an agreement with Thailand’s True Corporation to enhance LEO satellite internet, while Galactic Energy partnered with Germany’s FEM-Composites and Malaysia’s Distant Blue Aerospace to expand international space collaboration.
💡China is also accelerating innovation in reusable launch systems. A new laboratory led by LandSpace and Tsinghua University will develop reusable liquid oxygen methane rockets, with technology validation planned between 2025 and 2027. Meanwhile, Shanghai aims to produce 50 commercial rockets and 600 satellites annually by 2025, with the G60 Satellite Digital Factory targeting rapid satellite assembly, reaching up to 500-600 units per year by 2026
India
India's space regulator, IN-SPACe, has unveiled a $57.58 million Technology Adoption Fund to support early-stage space startups and reduce reliance on imports. The fund will cover up to 60% of project costs for startups and SMEs(40% for larger firms), with a cap of 250 million rupees per project. The fund is expected to enhance production, drive innovation, and secure international contracts in satellite launches and propulsion technology.
💡Alongside this, the government has approved a 10-billion-rupee venture capital fund, awarded private contracts for ISRO’s main launch vehicle, and ramped up commercial partnerships. With growing corporate interest—including Jio Platforms, Starlink, and Amazon’s Kuiper—India aims to position itself as a competitive force in the global space industry.
Malaysia
Malaysia is set to enhance its space governance by ratifying key space treaties under the United Nations Committee on the Peaceful Uses of Outer Space (UNCOPUOS), as part of its efforts to build a competitive space industry.
The Malaysian Space Board Act 2022 (Act 834) and the Malaysian Space Board Regulations 2024, effective January 1, 2025, will provide a comprehensive framework for licensing space activities, managing liability, and ensuring compliance with international agreements.
💡The space sector is expected to contribute RM10 billion ($225 million) to GDP, create 5,000 jobs, and generate RM40 million ($9 million) through data markets. Malaysia is also in discussions with state governments to allocate land for potential space launch sites.
Philippines
The Philippine Space Agency (PhilSA) has submitted three experiments to the Asian Try Zero-G (ATZG) 2025 Competition, organized by Japan’s JAXA. The initiative allows students from the Asia-Pacific region to develop experiments for the Japanese Experimental Module Kibo aboard the International Space Station (ISS). After reviewing 89 proposals nationwide, PhilSA selected three focused on gyroscopic motion, magnetic surface tension, and conservation of momentum in microgravity.
💡If selected, the teams will collaborate with JAXA to refine their experiments, furthering the Philippines' role in international space research and microgravity studies.
Thailand
A Thai parliament member has urged the government to investigate the potential criminal use of low-Earth orbit (LEO) satellite connectivity, citing concerns that call center gangs operating near Thailand’s borders could exploit satellite internet for illegal activities. With satellite services from OneWeb and Starlink offering broad coverage, criminals can bypass traditional countermeasures like disrupting terrestrial telecom networks.
💡The Digital Economy and Society Ministry has already seized 58 Starlink terminals used by fraudsters but faces challenges as criminals adapt by dismantling unauthorized towers and cables. Calls for stricter regulation and countermeasures are increasing to combat illicit satellite internet usage.
Vietnam
Vietnam is revising its regulations to permit SpaceX’s Starlink to operate a satellite internet pilot scheme until 2030, marking a significant policy shift. The new rules will allow full foreign ownership of low-Earth orbit (LEO) satellite providers, a departure from previous restrictions.
💡The decision follows extended negotiations with SpaceX and aims to address U.S. trade concerns, particularly amid fears of tariffs under President Trump’s administration. The move could grant Starlink access to Vietnam's 100 million-person market and help reduce its trade surplus with the U.S., which hit a record $123.5 billion in 2023.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**