The Vietnamese government has given the green light to a $1.5 billion investment plan. The Trump Organization and a partner will develop golf courses, hotels, and real estate projects in Vietnam, according to the state-run Tuoi Tre newspaper on Friday.
The project will cover 990 hectares (2,446 acres). It will include a complex of golf courses, resorts, hotels, and a “modern residential project.” The newspaper said the investment should begin this quarter and continue until the second quarter of 2029, citing a document signed by Deputy Prime Minister Tran Hong Ha.
Kinhbac City (KBC.HM), a Vietnamese real estate developer, announced the project in October. Kinhbac City is the Vietnamese partner of “U.S. President Donald Trump’s family business.”
Neither the Trump Organization nor the Vietnamese government immediately responded to requests for comment.
This approval arrives during trade negotiations between Vietnam and the United States. The Southeast Asian country seeks to avoid “a U.S. import tariff of 46%” as it is an industrial hub.
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 has a population of approximately 100 million. According to the Vietnam Golf Association, the country has about 70 golf courses and 100,000 local golfers.
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