The Trump Organization, in partnership with Vietnamese developer Kinhbac City, is making a major move into Vietnam with multi-billion-dollar investments in golf courses, hotels, and real estate. The first project, valued at $1.5 billion and located near Hanoi, is set to break ground in May—just weeks after a potential U.S. decision on imposing reciprocal tariffs on countries with large trade surpluses like Vietnam.
Despite tariff risks, Vietnam is working to ease tensions by pledging to increase imports from the U.S., cut trade barriers, and permit Elon Musk’s Starlink to operate in the country through a pilot program that maintains Vietnamese control of its local entity.
The Trump-backed project near Hanoi includes three 18-hole golf courses and a residential complex. The first two courses are expected to open by mid-2027. This marks the Trump Organization’s largest venture in East Asia and follows existing golf investments in Indonesia.
Representatives from the consortium recently met with Vietnamese Prime Minister Pham Minh Chinh, underlining the project’s high-profile status. Additional projects near Ho Chi Minh City are under review, with announcements expected later this year. The group is evaluating three to four projects in total.
While the Trump Organization’s stake in the consortium remains undisclosed, the company—led by Eric Trump—will operate the facilities. A Reuters analysis previously highlighted golf resorts as the Trump Organization’s top cash flow drivers, making this expansion a strategic move.
Vietnam, home to 100 million people and about 100,000 local golfers, is rapidly growing as a luxury golf and tourism market. With around 70 courses already, these new developments could significantly boost the country’s profile as a premier golf destination in Southeast Asia.