Hanoi: The Trump Organization and its Vietnamese partner are moving forward with a series of major investments in golf courses, hotels, and real estate developments worth billions of dollars, a spokesperson for the consortium told Reuters, according to the international news agency’s report.
The expansion plans come as Vietnam faces potential U.S. tariffs, given its significant trade surplus with Washington. In 2023, Vietnam exported goods valued at approximately 30% of its GDP to the United States. To mitigate trade imbalances and avoid tariffs, Vietnam has committed to increasing imports from the U.S., reducing trade barriers, and allowing Elon Musk’s Starlink to provide satellite internet services under a pilot scheme that retains full Vietnamese control of its subsidiary.
“The Trump Organization, along with its partner, is planning multi-billion-dollar investments in Vietnam,” the spokesperson said. The first project, valued at $1.5 billion and located near Hanoi, is set to break ground in May, just months after the deal was finalized. A second project could be announced later this year.
The groundbreaking for the Hanoi project—featuring three 18-hole golf courses and a residential complex—will take place just weeks after the Trump administration’s expected April 2 decision on “reciprocal tariffs” for countries with significant trade surpluses. The first two golf courses are projected to be operational by mid-2027. The Trump Organization is also involved in two golf clubs in Indonesia, one of which is currently under construction.
The Vietnamese real estate developer Kinhbac City announced the partnership with the Trump Organization in October, though the timing of the project’s launch had not been previously disclosed.
The Trump Organization did not respond to a request for comment.
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Golf Sector Expansion
A Reuters analysis last year highlighted that golf courses and resorts, particularly in the United States, serve as a primary revenue source for the Trump Organization. In line with this, the consortium is considering additional projects in Vietnam, including a potential investment near Ho Chi Minh City, Vietnam’s economic center. While the spokesperson did not specify the size of this investment, an official deal could be announced by the end of the year. In total, the consortium is evaluating three or four projects across the country.
The spokesperson declined to reveal the Trump Organization’s stake in the consortium but confirmed that the business, led by Eric Trump, would oversee operations.
Vietnam, with a population of 100 million, has around 70 golf courses and an estimated 100,000 local golfers, according to the Vietnam Golf Association.
