Vietnam Airlines reaches $7.8bn deal with US Boeing, confirms White House
Boeing
Vietnam Airlines has finalised a substantial $7.8 billion agreement with American aircraft manufacturer Boeing, according to a statement released by the White House on Monday (September 11). The deal, forgedafter a meeting between US President Joe Biden and Vietnamese Prime Minister Pham Minh Chinh in Hanoi, has been hailed as a landmark development, reported AFP.
Boosting US employment
The White House saidthat this deal is poised to givea substantial kick to the US job market. It is expected to support more than 30,000 jobs across various sectors in the United States, further solidifying the economic ties between the two nations.
Details of the deal
Vietnam Airlines, Vietnam's national carrier, is set to acquire a total of 50 Boeing 737 aircraft as part of this agreement. President Biden shared this information during a roundtable discussion with senior executives from prominent American and Vietnamese companies, including representatives from both Boeing and Vietnam Airlines. This significant purchase by Vietnam Airlines comes as a strategic move to replace older aircraft in their fleet, some of which have been in service for over a decade, as reported by state media.
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Rising demand in Vietnam's aviation sector
Vietnam's aviation sector has experienced remarkable growth in recent years, driven by the expanding middle class with an increasing appetite for air travel. This partnership with Boeing marks a significant step for Vietnam Airlines in modernising its fleet to cater to the growing demands of air travel within the country and beyond.
Also watch |Joe Biden in Vietnam: China trying to change rules of the game
Warning against China
Additionally, the United States andVietnamjointly warned against the "threat or use of force" in the disputed South China Sea, days after the latest clash involving Chinese vessels.
President Joe Biden andVietnam's Communist Party chief Nguyen Phu Trong said the competing claims on the strategic waterway must be resolved under international norms.
Beijing claims almost the entire seathrough which trillions of dollars in trade passes annually, and has completely sidelined an international court ruling that its assertion has no legal basis.
"The leaders underscored their unwavering support for the peaceful resolution of disputes in accordance with international law, without the threat or use of force," Biden and Trong said in a joint statement.
(With inputs from agencies)
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