Donald Trump’s family group puts most of its strength into Vietnam

Trump Organization – the corporation of US President Donald Trump – can carry out many investment projects worth billions of dollars in its strongest areas: golf courses, hotels and real estate in Vietnam.

According to international media, Trump Organization – the corporation of US President Donald Trump and its partners – will implement many golf course, hotel and real estate projects in Vietnam. The 1.5 billion USD project invested in Hung Yen is just one of them.

Golf courses and resorts are the Trump Organization’s biggest cash cow.

Accordingly, the $1.5 billion project in Hung Yen will start in May and the second project may be announced this year. The Trump Organization is considering investing in three or four projects in Vietnam. The group of Eric Trump, son of President Donald Trump, will operate these facilities. The site for another golf course or hotel project is near Ho Chi Minh City.

Mr. Charles James Boyd Bowman, General Director of the Trump Organization’s project in Vietnam, once revealed that the $1.5 billion urban complex, eco-tourism, sports and luxury golf course project in Hung Yen province will be completed in March 2027 to serve the APEC 2027 occasion.

Mr. Donald Trump and his son Eric Trump. Photo: FB

During a meeting with Mr. Bowman on the afternoon of March 18, Prime Minister Pham Minh Chinh suggested that the Trump Organization consider Vietnam as a business base, research and expand investment and business activities to other localities in Vietnam, potential areas where businesses have strengths and Vietnam is interested in, prioritize promotion; strengthen cooperation with Vietnamese businesses, support Vietnamese businesses to participate in the group’s ecosystem and supply chain globally.

Information about Trump Organization’s planned investment projects in Vietnam comes as economic and trade relations between the US and Vietnam continue to develop sustainably. Vietnam and the US will become Comprehensive Strategic Partners from September 2023. US investment in Vietnam is not large and there is a lot of room for further growth.

For many years, the US has been Vietnam’s major trading partner, with a fairly large trade surplus. In 2024, exports to the US will reach about 30% of GDP.

After returning to the White House, US President Donald Trump imposed high tariffs on goods from many countries and set a deadline of April 2 to impose reciprocal tariffs on trading partners.

Recently, Vietnam has been actively promoting economic relations with the US, pledging to increase imports of US goods, reduce taxes and non-tariff barriers. Many Vietnamese businesses, including VietJet, have large contracts with US partners.

On March 23, the Vietnamese government allowed SpaceX, the company founded by Elon Musk, to conduct a controlled pilot in deploying telecommunications services using low-orbit satellite technology, “without any limit on the percentage of foreign investors’ share ownership, capital contribution or contribution ratio.” SpaceX’s Starlink satellite internet service will be piloted for five years, with a maximum of 600,000 subscribers.

On February 14, Minister of Industry and Trade Nguyen Hong Dien had a meeting with the Ambassador Extraordinary and Plenipotentiary of the United States of America to Vietnam – Marc E. Knapper. Ambassador Marc Knapper said that the recent imposition of tariffs was not aimed at Vietnam. The US “wants to maintain bilateral relations, and economic and trade cooperation with Vietnam continues to develop in a positive direction.”

According to Ambassador Knapper, both the US public and private sectors are ready to strengthen cooperation with Vietnam in new, potential areas that are in line with development trends such as ensuring energy security, climate security, food security, and high technology.

According to Vietnamnet