Boeing Co. scored an order for 100 planes from Vietnamese carrier VietJet Air in a deal valued at $11.3 billion. The deal, which has made the airline one of the region's fastest growing low-cost carriers, was signed Monday in the presence of U.S. President Barack Obama and his Vietnamese counterpart Trần Đại Quang.

“Vietjet is efficiently operating a fleet of narrow body airplanes. Our investment in a fleet of B737 Max 200 will accommodate our strategy of growing Vietjet's coming international route network including long haul flights,” Vietjet President and CEO Nguyễn Thị Phương Thảo said Monday. “Through this Agreement, Vietjet will contribute increasing bilateral trade turnover between Vietnam and the United States, as well as contributing to the integration and development of the aviation industry in Vietnam.‎”

The planes will be delivered over a span of four years beginning in 2019 and will help the carrier expand its fleet to 200 by the end of 2023, the Chicago-headquartered Boeing said in a statement.

Boeing deal Ray Corner, President and CEO of Boeing Commercial Airplanes (sit, left) and Vietjet CEO Nguyen Thi Phuong Thao (sit, right) signs a 100 Boeing aircrafts buying contract as U.S. President Barack Obama (center left) and his Vietnamese counterpart Tran Dai Quang (center right) look on at the Presidential Palace in Hanoi, Vietnam May 23, 2016. Photo: REUTERS/Kham

“Boeing is proud to again play an integral role in advancing Vietnam’s aviation industry. We’re honored to be joined by President Quang and President Obama for this historic milestone and order of 100 737 MAX 200 airplanes,” Boeing Commercial Airplanes President and CEO Ray Conner said. “Incorporating the latest design and technology features, the highly efficient 737 MAX 200 will provide Vietjet’s growing network with market-leading economics, a superior passenger experience and contribute significantly to their future success.”