TPO - A Trump Organization spokesperson told Reuters that the group and its partners are implementing many investment projects worth billions of dollars in golf courses, hotels and real estate in Vietnam.
TPO - A Trump Organization spokesperson told Reuters that the group and its partners are implementing many investment projects worth billions of dollars in golf courses, hotels and real estate in Vietnam.
The Trump business plans come as the US ramps up tariffs. Vietnam currently has the world’s largest trade surplus with Washington, exporting goods worth 30% of its GDP to the US last year.
To balance trade, Vietnam pledged to increase US imports, reduce tariffs and non-tariff barriers, and allow Elon Musk's Starlink to provide satellite internet services in Vietnam.
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A Trump Organization spokesman said Eric Trump operates facilities in Vietnam. |
“The Trump Organization and its partners plan to invest billions of dollars in Vietnam,” the spokesperson said, noting that the first $1.5 billion project broke ground in May — a few months after the deal was signed. A second project could be announced this year.
The project, which includes three 18-hole golf courses and a residential complex, is the company’s largest project in East Asia, a Trump Organization spokesman said. The first two golf courses are expected to be operational by mid-2027.
Reuters analysis by 2024 shows that golf courses and resorts are the biggest cash flow drivers for the Trump Organization.
The spokesman added that sites for other golf courses or hotels near the economic hub of Ho Chi Minh City have been selected. The deal, expected to be announced later this year, would see investment in about three to four projects in Vietnam. It was too early to disclose the scale of the investment, he added.
The spokesman declined to disclose the Trump Organization's stake, but said Eric Trump, Mr. Trump's son, will run the properties.
According to Reuters
Source: https://tienphong.vn/trump-group-invests-in-an-project-hon-15-ty-usd-tai-viet-nam-post1728958.tpo
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