
The project will use official development assistance funds and the state budget from 2011 to 2023. The project was approved by the Government in 2006.
According to Vu Anh Tuan, deputy head of Viet Nam National Space Centre, the construction of the centre is part of the project, and would be completed by 2019. The centre successfully developed the first PicoDragon Satellite in 2013, which could operate in space for three months. Three other satellites, including NanoDragon, MicroDragon and LOTUSat-1, are currently under development.
LOTUSat-1 is scheduled for launch in 2019. The satellite uses radar-tracking technology to give Vietnam the ability to view the entire country and its territorial sea in all weather conditions in high resolution. According to experts, the country currently has to wait at least two days to get image data on certain areas in the country, but the time would be reduced to between six and 12 hours if the country had its own satellite.