The agreement represents the largest single combined sale with Vietnam in GE's history.
GE's agreement with Vietjet Aviation, a Vietnamese low-cost airline, includes 20 jet engines made by CFM International, a joint venture of GE and France's Safran (SAFRF) .
GE's power business signed a memorandum of understanding to construct two 750-megawatt gas-fueled turbine power plants in conjunction with state energy group PetroVietnam.
The firm also signed a joint development deal to build an 800-megawatt wind energy facility.
Shares of General Electric were higher during afternoon trading on Wednesday.
Stocks have rebounded following a sharp sell off last week. Jim Cramer believes the rebound is real and gives investors advice on how to play the market going forward.