Reports indicate that Trump’s organization and its partners are exploring plans to construct a skyscraper in Ho Chi Minh City, Vietnam.
Eric Trump, who took the reins of the Trump organization after his father’s initial presidency, is scheduled to visit Vietnam this week, as noted in government documents acquired by Reuters.
City officials received invitations to “join a dinner with Eric Trump, senior vice president of the Trump organization,” at the Hotel Cheemin city hotel. This invitation was issued on May 15th by the head of the city’s foreign ministry, according to a Thursday evening announcement.
Representatives from the Trump organization are reportedly checking out the central upscale area of the city and aim to “explore the proposed site for the Trump Tower Building and collaborate with city officials on the project,” as mentioned in the documents.
City and company officials are expected to meet again later on Monday, as per a Reuters report.
The Trump organization and its partner, the real estate developer Kinbak City, did not reply to an email inquiry for comments right away.
Vietnam has recently sanctioned a $1.5 billion initiative to develop golf courses, hotels, and real estate throughout the country in collaboration with its holding company and local partners.
This is considered a significant project, according to the Associated Press.
Insiders have confirmed to Reuters that Eric’s visit coincides with a groundbreaking ceremony for the golf course, set to take place on Wednesday in northern Vietnam.
Countries in South Asia are eager to finalize contracts with President Trump to avoid a steep 46% export tax on goods sent to the US, which includes textiles and electronics. They are proposing to eliminate all tariffs on US products, reduce non-tariff barriers, strengthen anti-counterfeiting measures, and permit satellite services from Starlink.
Vietnam, which has become a favored alternative to China’s manufacturing sector, is gaining attention from the US for not sufficiently restricting the entry of Chinese goods.
It remains unclear how the Trump organization and Kinbak will divide expenses and profits from the $1.5 billion golf course venture or the possible tower project.
The Trump organization boasts numerous upscale golf projects globally, including in the US, Europe, and the Middle East.
