The Xinhua News Agency is reporting that Vietnam is expected to launch their second satellite during 2012, with this info picked up in the New Hanoi newspaper.

Called VNREDSat-1, this satellite is of relatively small size and will be used as an Earth observation tool from low Earth orbit. The Hoa Lac High Tech Park in Hanoi will be the location of a yet-to-be-built satellite control center. The cost is expected to be between 60 to 70 million U.S. dollars, which includes all manufacturing and launch costs as well as training. The expected life span is five years, once launched and in orbit.