HANOI (Reuters) – Vietnam’s government has approved a plan by the Trump Organization and a partner to invest $1.5 billion in golf courses, hotels and real estate projects in the Southeast Asian country, the state-run Tuoi Tre newspaper reported on Friday. The project, planned on 990 hectares (2,446 acres) of land, will feature a complex […]
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Vietnam approves $1.5 billion investment plan by Trump Organization and partner
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HANOI (Reuters) – Vietnam’s government has approved a plan by the Trump Organization and a partner to invest $1.5 billion in golf courses, hotels and real estate projects in the Southeast Asian country, the state-run Tuoi Tre newspaper reported on Friday.
The project, planned on 990 hectares (2,446 acres) of land, will feature a complex of golf courses, resorts, hotels, and a modern residential project. The investment is expected to start this quarter and run until the second quarter of 2029, the newspaper said, citing a document signed by Deputy Prime Minister Tran Hong Ha.
Real estate developer Kinhbac City, the Vietnamese partner of U.S. President Donald Trump’s family business, announced the project in October.
The Trump Organization and the Vietnamese government did not immediately respond to requests for comment.
The approval comes amid trade negotiations between Vietnam and the United States, as the Southeast Asian country, an industrial hub, seeks to avoid a U.S. import tariff of 46%.
In March, Reuters reported that the Trump Organization and its partner were planning up to four golf and hotel projects in Vietnam. The first two courses are expected to be operational by mid-2027.
Vietnam, home to approximately 100 million people, has around 70 golf courses and 100,000 local golfers, according to the Vietnam Golf Association.
(Reporting by Phuong Nguyen; Editing by Mark Potter)