Vietnam Partners with The Trump Organization

HANOI (Reuters) – Vietnam's real estate developer Kinhbac City (KBC) announced on Tuesday that its subsidiary has teamed up with The Trump Organization to develop a $1.5 billion golf course and hotel project in Hung Yen province.

A memorandum of understanding was signed in late September during the visit of Vietnamese President To Lam to the United States, as disclosed by KBC in a statement.

The project will feature two 54-hole golf courses, hotels, resorts, and a modern residential complex.

A Reuters analysis from August indicated that the golf course and resort business serves as the primary source of cash flow for The Trump Organization, the family business of U.S. Republican presidential candidate Donald Trump.

In mid-September, Trump Organization representatives visited the province to discuss investment opportunities with local authorities.

Eric Trump, Executive Vice President of The Trump Organization and son of former President Donald Trump, expressed enthusiasm about entering the dynamic Vietnamese market, emphasizing its potential in the luxury hotel and entertainment sectors.

No construction timeline has been provided for the project.

Vietnam, with a population of 100 million, currently boasts about 70 golf courses and 100,000 local golfers, according to the Vietnam Golf Association.

The U.S.-based Trump Organization has not yet responded to a request for comment from Reuters.