Trump Organization to break ground on billion-dollar project in Vietnam

Trump Organization to break ground on billion-dollar project in Vietnam

The Trump Organization plans to break ground on its first venture in the northern province of Hung Yen in May while exploring another project in southern Vietnam.

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According to Reuters, The Trump Organization and its partner in Vietnam are working on multiple investments worth billions of dollars in golf courses, hotels, and real estate projects in the country.

The first project, valued at $1.5 billionand located near Hanoi, will break ground just weeks after the Trump administration's tariff moves to be announced on April 2.

The venture boasts three 18-hole golf courses and a residential complex, the largest of its kind in East Asia for The Trump Organization. The first two courses are slated to be put into operation by mid-2027, according to a spokesman for the consortium.

"Sites for another golf or hotel project close to Ho Chi Minh City, Vietnam's southern business hub, have been shortlisted with a deal expected to be announced by the end of this year," the spokesman added, noting it was too early to indicate the size of the possible investment.

He further noted the consortium was considering investments in three or four projects in Vietnam in total.

As reported by VIR, The Trump Organization and Hung Yen Hospitality, a subsidiary of Kinh Bac City Development Holding Corporation (HSX: KBC), announced a deal in October 2024. The collaboration will focus on developing 5-star hotels, championship-style golf courses, luxurious residential estates, and unparalleled amenities in Vietnam.

“We are incredibly excited to enter this dynamic market,” said Eric Trump. “Vietnam has tremendous potential for luxurious hospitality and entertainment, and we are beyond thrilled to work with this amazing family to redefine luxury in the region.”

On March 18, Prime Minister Pham Minh Chinh received Charles James Boyd Bowman, general director of The Trump Organization’s Vietnam project.

The PM said that Vietnamese agencies will implement a comprehensive review to accelerate the project in line with regulations and ensure the benefits of relevant stakeholders.

In response, Bowman noted, "We are working closely with local authorities to speed up the project, with a view to completing it within the next two years in anticipation of APEC 2027. The venture promises to become Vietnam's leading golf course and a world-class golfing destination."

He added that the company is exploring investments in other projects and sectors in Vietnam and advancing the visits of the company's leaders to the country, thereby contributing to strengthening US-Vietnam relations and elevating Vietnam’s global image.

VIR