Trump Organization Targets Multibillion-Dollar Ventures in Vietnam

The Trump Organization along with its Vietnamese partners is currently involved in several billion-dollar investments encompassing golf courses, hotels, and real estate developments within the Southeast Asian nation. A spokesperson for the partnership disclosed this information to Reuters.

In this archived photograph from July 9, 2024, Eric Trump appears at a campaign event held at a golf course in Doral, Florida, United States. The image was captured by Reuters.

The Trump Organization along with its partner intends to make multi-billion-dollar investments in Vietnam, as stated by the spokesperson. They mentioned that the initial project will commence construction in May, mere months following the agreement’s signing, and a potential second venture might be unveiled later this year.

The inauguration of the initial project, valued at $1.5 billion and located near Vietnam’s capital city, Hanoi, was set to occur shortly following the Trump administration's much-anticipated determination regarding "reciprocal tariffs." This decision was slated for April 2 and targeted certain nations experiencing trade disparities.

The spokesperson mentioned that the initiative comprises three 18-hole courses. golf courses Additionally, this residential project stands as the biggest development for the Trump Organization within East Asia. He mentioned that the initial two phases should commence operations around mid-2027. Furthermore, the organization has stakes in two golf facilities in Indonesia; one such facility is currently being built.

The announcement for the project came in October from the Vietnamese partner of the Trump Organization, real estate developer Kinh Bac City; however, the specific timing had not been disclosed earlier.

The Trump Organization did not reply to requests for comments.

Last week, representatives from the consortium had a meeting with Vietnamese Prime Minister Pham Minh Chinh, as reported on the official government website.

Golf cash

A Reuters An analysis from last year revealed that the golf course and resort sector became the primary generator of liquidity for the Trump Organization, largely due to numerous properties located across the United States.

Locations for additional golf courses or hotel developments near Ho Chi Minh City, Vietnam’s main commercial center in the south, have been narrowed down. The spokesperson mentioned that an agreement could be revealed by year-end. However, they also stated that it was premature to specify the potential investment scale at this stage.

He mentioned that the consortium was contemplating investments in around three or four projects altogether in Vietnam.

The spokesperson chose not to specify the extent of the Trump Organization's share in the consortium; however, they mentioned that the entity led by Donald Trump’s son Eric would manage the properties involved.

With a population of 100 million, Vietnam boasts approximately 70 golf courses and 100,000 local golfers, as reported by the Vietnam Golf Association.