GE signs $5.8B in deals with Vietnam

GE signs $5.8B in deals with Vietnam

Boston-based General Electric Co. has won about $5.5 billion in business
deals with Vietnam - the biggest agreement with the Southeast Asian country
in the company's history.

The company (NYSE: GE) said on Wednesday that it had signed agreements
valued at more than $2 billion to support the development of Vietnam's
energy sectors, as well as agreements valued at over $3.58 billion for new
aircraft engines and maintenance support.

The energy agreements, which were acknowledged by U.S. Secretary of Commerce
Wilbur Ross and Vietnam's Prime Minister Nguyen Xuan Phuc during his state
visit to the U.S., include a memorandum of understanding to co-develop new
gas power plants and a joint development agreement around the 800-megawatt
Phu Cuong Wind Farm in Soc Trang.

GE says it provides more than 30 percent of Vietnam's installed base power
generation.

CFM International - which is a joint venture between GE Aviation and Safran
Aircraft Engines - signed two new agreements with VietJet Air, including a
maintenance support contract for the airline's 215 LEAP-1B engines. In
addition, the airline expanded its CFM-powered A321 fleet.

The agreements will include financing from GE and draw on technology and
parts sourced from across GE's U.S. manufacturing footprint, GE said in a
release.

The Vietnam deals are only the latest for the company internationally. Just
last week, GE announced that it had signed $15 billion worth of business
deals in Saudi Arabia as President Donald Trump made a visit to the Middle
Eastern country.

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Link to Original Article:
http://www.bizjournals.com/boston/news/2017/05/31/ge-signs-5-8b-in-deals-wit
h-vietnam.html

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com