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Vietnam has approved a $1.5 billion proposal by the Trump Organisation and its Vietnamese partner to build golf courses, hotels and real estate projects in the Southeast Asian country, state-run media reported Friday.
The project spanning 990 hectares (2,446 acres) in northern Vietnam's Khoai Chau district will include a golf course the size 336 American football fields, residential areas, commercial spaces and parks. The decision approving the investment was signed by Deputy Prime Minister Tran Hong Ha, the VN Express newspaper reported.
Vietnam is heading into negotiations with the US in a bid to avoid the 46% tariffs on its exports announced by President Donald Trump's administration. Vietnam also has been facing heat from Washington for not doing enough to prevent the diversion of Chinese goods through its borders.
The investment project was announced by Vietnamese real estate developer Kinhbac City, which partnered with Trump's family business in October.
Work on the project will start this year and continue till 2029.
The Trump Organisation did not immediately respond to a request for comment Friday.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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