Vietnam has officially approved a $1.5 billion investment proposal from the Trump Organization and its Vietnamese partner Kinhbac City to develop a large-scale golf, hospitality, and real estate complex in the Khoai Chau district of northern Vietnam, according to state-run media reports.
The expansive project will cover 990 hectares (approximately 2,446 acres) and feature a golf course equivalent in size to 336 American football fields, along with residential units, commercial spaces, and public parks. The approval was granted by Deputy Prime Minister Tran Hong Ha, as reported by VN Express.
The development is expected to begin construction later this year and continue through 2029. It marks a major expansion of the Trump Organization’s footprint in Southeast Asia and represents one of Vietnam’s largest foreign real estate collaborations to date.
The project comes at a critical diplomatic moment as Vietnam prepares to enter trade negotiations with the United States following the announcement of 46% tariffs on Vietnamese exports by the Trump administration. Washington has also raised concerns about Vietnam’s role in the re-routing of Chinese goods to bypass existing U.S. trade restrictions.
The partnership between Trump’s family business and Kinhbac City was first disclosed in October 2024, though specific project details were not finalized until now.
As of Friday, the Trump Organization has not issued a formal public comment on the approval.
The new development highlights Vietnam’s ongoing efforts to attract high-profile foreign investment while balancing complex trade relations with the United States.
For further updates, follow the Ministry of Planning and Investment (MPI) and Kinhbac City Development reports.