Vietnam and the United States have signed deals price $8 billion, including a deal for huge engines with Vietnamese budget carrier VietJet.
The agreements were announced during Vietnamese Prime Minister Nguyen Xuan Phuc’s visit to the White House on Wednesday, which was geared toward strengthening trade ties. Phuc is the primary Southeast Asian leader to go to the Trump White House.
As a part of the brand new agreements, Vietjet signed a 12-year, $3.58 billion engine contract with CFM International, a three way partnership of General Electric and Safran. The airline also signed a separate $1 billion cope with GE Capital Aviation Services for aircraft financing.
“We firmly believe that this agreement will promote economic and trade exchanges between the two countries and create millions of jobs for both nations,” said Vietjet CEO Nguyen Thi Phuong Thao, who’s the communist country’s first and only female billionaire.
The country’s largest low-cost carrier, Vietjet, earned $1.21 billion last yr and its shares have soared since its market debut in February.
Honeywell (HON.N) also signed a $100 million contract to produce VietJet with 98 auxiliary power units for its recent Airbus fleet (AIR.PA) A320 aircraft, including maintenance for 12 years.
Hilton worldwide (LDS.N) signed a $650 million deal to administer a 610-room dual-brand hotel in Vietnam, while port security company Passport Systems Inc signed a $1 billion deal, of which $420 million was for the U.S., Commerce said.
The other recent deals signed within the hospitality, science and technology, academia and energy sectors come as Washington opts for bilateral deals fairly than sweeping free trade pacts.
Phuc told Trump there have been “significant historical upheavals” in relations, however the two countries are actually “comprehensive partners.”
Source : Khmer times | Reuters
