[HO CHI MINH CITY] Executives at the Trump Organization, a privately owned business of US President Donald Trump, will visit Ho Chi Minh City to survey potential sites for a Trump Tower project, according to a Vietnamese government document seen by The Business Times.
The delegation led by executive vice-president Eric Trump – President Trump’s third-eldest child – will arrive on Thursday (May 22), with plans to meet city leadership at a dinner at a central hotel in the city.
They will inspect sites at Thu Thiem, a peninsula that lies across the Saigon River from downtown Ho Chi Minh City. The city authority has recently earmarked vacant land parcels in this area to woo multibillion-dollar investments for the development of the country’s new international financial centre.
This comes amid ongoing trade negotiations between Washington and Hanoi, as the latter seeks to avoid a reciprocal tariff of 46 per cent – one of Asia’s highest rates – imposed by the Trump administration and currently on hold until early July.
The Trump Organization is operating or licensing its name to dozens of Trump-branded properties around the world. These projects often encompass a mix of luxury residential, commercial and hospitality developments.
For example, The Trump International Hotel & Tower in Dubai, announced in late April under a licensing deal with United Arab Emirates-based developer Dar Global, is an 80-storey skyscraper scheduled for completion in 2031. It is planned to feature luxury residences starting at US$1 million, a five-star hotel and a private members’ club called The Trump.
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Groundbreaking of US$1.5 billion golf complex
Local media reported on May 16 that a US$1.5 billion golf project in Vietnam’s Hung Yen province, co-developed by the Trump Organization and Vietnamese real estate developer Kinhbac City, had been approved by the government.
The project, spanning 990 hectares in the province near Hanoi, involves the development of golf courses, hotels, resorts and a modern residential complex.
Kinhbac City chairman Dang Thanh Tam told state newspaper Tuoi Tre that the groundbreaking ceremony will take place on Wednesday, with Eric Trump and his wife in attendance.
Earlier in March, Vietnamese Prime Minister Pham Minh Chinh urged the Trump Organization to consider Vietnam as a business base and broaden its investments into other localities, particularly in sectors aligned with the country’s priorities.
Reuters reported in March that the Trump Organization, along with a local partner, was planning to launch up to four golf and hotel projects in Vietnam, with the first two scheduled to be operational by mid-2027.
Besides Vietnam, the Trump Organization has partnered MNC Group to develop two golf projects in Indonesia – its first venture into South-east Asia since 2014.
South-east Asia is home to more than 1,000 operational 18-hole golf courses, with Thailand leading the pack with 306 courses, based on data compiled by consulting firm Asia Golf Journey. Among them, Vietnam and Indonesia currently have more than 80 and 180 courses, respectively.
