Vietnam Approves Trump Organisation's $1.5 Billion Golf and Real Estate Project

HANOI, May 16: Vietnam has approved a $1.5 billion proposal by the Trump Organisation and its Vietnamese partner to develop golf courses, hotels, and real estate projects in the Southeast Asian country, according to state-run media reports. The project, spanning 990 hectares (2,446 acres) in the northern Khoai Chau district, will include a golf course the size of 336 American football fields, residential areas, commercial spaces, and parks. The decision approving the investment was signed by Deputy Prime Minister Tran Hong Ha, as reported by the VN Express newspaper. This move comes as Vietnam is heading into negotiations with the United States to avoid the 46% tariffs on its exports announced by President Donald Trump’s administration. Vietnam has also been under pressure from Washington for not doing enough to prevent the diversion of Chinese goods through its borders. The investment project was announced by Vietnamese real estate developer Kinhbac City, which partnered with Trump’s family business in October. Work on the project is set to start this year and continue until 2029. The Trump Organisation did not immediately respond to a request for comment on Friday. This development is a significant boost for both the Trump Organisation and Kinhbac City, as it not only enhances their presence in the Vietnamese market but also aligns with Vietnam’s strategic goals to attract foreign investment and boost its real estate and tourism sectors. The project is expected to create numerous jobs and stimulate economic growth in the region. Kinhbac City, a leading real estate developer in Vietnam, has a strong track record of successful projects. The company's partnership with the Trump Organisation underscores the growing interest of international investors in the Vietnamese market. The project's scope and scale highlight the potential for substantial economic benefits and the creation of a world-class destination for golf enthusiasts and tourists. The approval of this project also reflects Vietnam's commitment to fostering a business-friendly environment and attracting high-profile international partnerships. As Vietnam continues to navigate economic challenges and trade negotiations, such investments can play a crucial role in strengthening its position in the global market.