While in tariff negotiations, Trump group gets approval for massive golf resort in Vietnam
While in tariff negotiations, Trump group gets approval for massive golf resort in Vietnam
As tariffs continue to be negotiated between the United States and various countries, the Trump organization has gotten approval to put $1.5 billion in investments into golf courses, hotels and real estate projects in the Southeast Asian country of Vietnam.
According to our partner Reuters, the Vietnamese government approved a plan for a project, planned on nearly 2,500 acres of land, which will feature a complex of golf courses, resorts, hotels, and a modern residential project.
Here's more from Reuters:
The investment is expected to start this quarter and run until the second quarter of 2029, the newspaper said, citing a document signed by Deputy Prime Minister Tran Hong Ha. Real estate developer Kinhbac Citt, the Vietnamese partner of U.S. President Donald Trump's family business, announced the project in October.
The Trump Organization and the Vietnamese government did not immediately respond to requests for comment.
The approval comes amid trade negotiations between Vietnam and the United States, as the Southeast Asian country, an industrial hub, seeks to avoid a U.S. import tariff of 46%.
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.
While he's negotiating tariffs, Trump's organization has continued to lobby in its interest at his golf properties. For example, although Trump has been pining to bring an Open Championship back to the Turnberry golf course that his organization owns, he recently received some consolation in that the DP World Tour announced that a dormant event will be resuscitated and played at another of his golf courses in Scotland.
According to a release from the DP World Tour, the tournament, which was considered a one-off when it was part of the Race to Dubai back in 2020, will be played Aug. 7-10 at Trump International Golf Links Scotland in Aberdeenshire. The course currently hosts a Legends Tour event, the European equivalent of a PGA Tour Champions tournament.
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