- Vietnam’s Deputy Prime Minister Tran Hong Ha approved the Trump Organization’s plans to build a golf resort, hotel, and other real estate developments near Hanoi. The project calls for a $1.5 billion investment. 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%.
The Vietnamese government approved a $1.5 billion development for the Trump Organization and an investment partner to build a golf resort outside Hanoi.
The real-estate project will include a golf course, hotel, and several residential areas, according to Vietnamese state-run media outlets. On Friday, Deputy Prime Minister Tran Hong Ha approved the plan, according to same reports.
The development will be constructed in the Khuyen Chau district of the Northern Vietnamese city of Hung Yen, which is about 40 miles outside of the capital city of Hanoi. As currently planned, it will stretch across 2,446 acres, or roughly 3.8 square miles. Investments in the golf resort and its surrounding developments will start this quarter and continue through 2029, according to reports from Vietnamese media.
The Trump Organization first announced the project alongside Vietnamese developer Kinh Bac City in October 2024, according to a press release.
The Trump Organization is the holding company that manages the family’s real estate and other businesses. It is best known for its real-estate developments, many of which are branded with the Trump name. President Donald Trump no longer has an official role at the company, which is largely managed by his son Eric Trump. When the elder Trump took office, he placed his stake of the Trump Org in a revocable trust controlled by his other son, Donald Trump Jr.
The Trump Organization did not respond to a request for comment.
Vietnam and the U.S. are currently in the midst of negotiations as part of the White House’s sprawling effort to strike new trade agreements with a host of different countries. At the moment, Vietnam is subject to a 46% tariff on all its exports to the U.S. Vietnam is a major manufacturing hub in Southeast Asia that exports $136 billion worth of goods to the U.S., according to the office of the U.S. trade representative.
Early in the trade discussion, Vietnam had pledged to reduce its own tariffs on imports from the U.S. to zero. However, that did not assuage White House officials, who said they are more concerned with non-tariff trade barriers that make it harder for U.S. companies to sell their products in Vietnam. In a meeting between trade delegations from the two countries earlier this week, U.S. representatives told their Vietnamese counterparts its trade deficit was “unsustainable.”