The Trump Organization, in collaboration with its Vietnamese partner, is advancing a series of high-value investments in golf courses, hotels, and real estate developments across Vietnam, a spokesperson for the consortium confirmed to Reuters. The projects, valued in the billions, come at a time when the Southeast Asian nation faces potential U.S. tariffs due to its substantial trade surplus with Washington.
Despite the looming tariff risks, Vietnam has sought to mitigate trade imbalances by committing to increased U.S. imports, reducing duties, and easing non-tariff barriers. Additionally, the country is allowing Elon Musk’s Starlink to operate satellite internet services under a unique pilot program that retains full Vietnamese ownership, navigating strict foreign ownership regulations.
“The Trump Organization, in partnership with its local ally, is moving forward with multi-billion-dollar investments in Vietnam,” the spokesperson said. The first project is set to break ground in May, just months after the agreement was finalized, with a second major development likely to be announced later this year.
Strategic Expansion in Vietnam
The initial project, worth approximately $1.5 billion and located near Hanoi, will commence construction mere weeks after the Trump administration’s anticipated April 2 decision on “reciprocal tariffs” targeting countries with significant trade imbalances. The development will feature three 18-hole golf courses alongside a residential complex, marking the Trump Organization’s most significant venture in East Asia. The first two golf courses are expected to be operational by mid-2027.
While the Trump Organization is already engaged in two golf developments in Indonesia—one of which remains under construction—its expansion in Vietnam underscores the growing importance of the country’s hospitality and leisure market.
The Trump Organization’s Vietnamese partner, Kinhbac City, initially disclosed the project in October, though the precise timing of the investment had not been previously reported. The Trump Organization itself did not respond to requests for comment on the matter.
A recent report on the Vietnamese government’s website confirmed that representatives of the consortium had met with Prime Minister Pham Minh Chinh last week.
Golf Industry as a Key Revenue Driver
An analysis by Reuters last year identified the golf course and resort business as the Trump Organization’s primary source of cash flow, largely driven by its multiple facilities in the United States.
Additional sites for potential golf or hotel developments near Ho Chi Minh City, Vietnam’s commercial hub, have been shortlisted, with a formal deal expected by the end of the year. While details remain undisclosed, the consortium is currently evaluating investment opportunities in three to four projects across Vietnam.
The spokesperson declined to specify the Trump Organization’s financial stake in the consortium but confirmed that the group, led by Eric Trump, will oversee the operations of the upcoming facilities.
With a population of 100 million, Vietnam is home to approximately 70 golf courses and a growing community of 100,000 local golfers, according to data from the Vietnam Golf Association. As the Trump Organization deepens its footprint in the region, the Vietnamese market presents a lucrative opportunity for expansion in the luxury golf and hospitality sectors.
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