Three Vietnamese airlines on Wednesday revealed nearly $37 billion in aircraft purchases from US aerospace companies, underscoring Hanoi’s growing ambitions in global aviation.
The deals come as Vietnam and the United States continue trade negotiations over tariffs on Vietnamese products, currently set at 20 percent. Despite these levies, Vietnam posted eight percent economic growth last year, defying concerns that tariffs would derail its export-driven model.
Sun PhuQuoc Airways, a fledgling airline founded just a year ago, placed an order for 40 Boeing 787 Dreamliners valued at approximately $22.5 billion, aiming to establish a global intercontinental network.
National carrier Vietnam Airlines ordered around 50 Boeing 737-8 aircraft for $8.1 billion, while opening discussions for an additional order of about 30 wide-body jets. Chairman Dang Ngoc Hoa said the agreement lays a “solid foundation for our ambition to become a leading airline by 2030.”
Vietjet Air, the country’s leading low-cost carrier, signed two contracts totaling $6.3 billion. About $5.4 billion will fund engine supplies and maintenance for 44 Airbus A320 aircraft through Pratt & Whitney, while roughly $960 million will cover the leasing of six Boeing 737 jets from Griffin Global Asset Management.
The signings coincided with Vietnamese leader To Lam’s visit to Washington, where he is expected to attend the inaugural meeting of US President Donald Trump’s “Board of Peace.”
Vietnamese and US officials held a sixth round of trade talks this month, but no final deal has been reached. Last year, Vietnam’s exports to the US, its largest market surged 28 percent, with a trade surplus of $134 billion. Following earlier tariff threats, Hanoi negotiated a 20 percent minimum tariff in exchange for opening its market to US goods, including automobiles.
Vietnam, often cited as a model Asian economy, aims to grow by at least 10 percent this year and reach middle-income country status by 2030.
