Vietnam Posts and Telecommunications Group (VNPT) and the US aeronautical manufacturer Lockheed Martin Corp. signed a contract to build and launch Vietnam’s second telecom satellite, Vinasat-2, in Hanoi o­n May 11.Under the contract, Lockheed Martin will build the satellite and launch it into orbit within 24 months since the effective date of the contract.Addressing the signing ceremony, VNPT President Pham Long Tran said the US$300 million Vinasat-2 project aims to further develop Vietnam’s telecom market and make full use of the infrastructure system serving the first satellite to meet growing customers’ demand.Vinasat-2, which can cover all Southeast Asia and a number of neighbouring countries, is expected to help ensure safety and stability in service supply as well as security and safety for the national telecommunications network.Vice Director of Lockheed Martin Joseph Rickers affirmed his company will ensure contract is implemented o­n schedule so that the satellite can be launched in April 2012.With the launch of the US$250 million Vinasat-1in April 2008, Vietnam became the 93rd country in the world and the sixth within the region to have its own satellite in orbit.Vinasat-1, which has an operation range of all over Vietnam and Laos , Cambodia and Thailand , has so far had 80% of its capacity leased and it is expected to operate at full capacity by 2011, according to VNPT.