Vietnam Clears $1.5 Billion Deal with Trump Organisation

Vietnam approved a $1.5 billion investment led by the Trump Organisation and a local partner to develop golf courses, hotels, and real estate. Spanning 990 hectares in Khoai Chau, the project encompasses commercial and recreational facilities. Amid this, Vietnam navigates trade issues with the US.

Vietnam has granted approval for a $1.5 billion investment by the Trump Organisation and a Vietnamese partner to develop extensive golf courses, hotels, and real estate projects. The decision, confirmed by state-run media on Friday, represents a significant expansion in the Southeast Asian nation.

The ambitious project will cover 990 hectares in the Khoai Chau district of northern Vietnam, featuring a colossal golf course equivalent to the size of 336 American football fields, alongside residential, commercial, and park facilities. Deputy Prime Minister Tran Hong Ha signed the official investment approval, according to VN Express.

In parallel, Vietnam is engaging in negotiations with the US to avert 46% tariffs on its exports and address concerns over the transshipment of Chinese goods. The real estate venture, led by Kinhbac City and in partnership with Trump's family business since October, is set to commence this year and conclude by 2029. The Trump Organisation has not commented on the announcement.

(With inputs from agencies.)