Vietnam province says Trump Organisation reps visited, looking at investment opportunities
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The Trump Organisation is the family business of US Republican presidential candidate Donald Trump.
PHOTO: REUTERS
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HANOI - The Trump Organisation, the family business of US Republican presidential candidate Donald Trump, is exploring investment opportunities in Vietnam’s Hung Yen province, the provincial People’s Committee said in a statement.
Representatives from the Trump Organisation visited the province and met the local authorities to discuss investment opportunities on Sept 16, the committee said in a statement after the meeting.
Hung Yen, 50km south-east of Hanoi, is the home town of Vietnamese President To Lam, and is also an industrial centre in northern Vietnam.
“Hung Yen province always supports investors, creating favourable administrative procedures for foreign investors to cooperate and develop in the province,” the provincial committee said in the statement.
The committee’s chairman Tran Quoc Van was quoted by state media as saying on Sept 18 that the Trump Organisation was seeking to develop hotel, golf course and entertainment facilities in the province.
The US-based Trump Organisation did not immediately respond to an e-mailed request from Reuters for comment.
A Reuters analysis in August found that the golf and resort business was the biggest driver of cash flow for the Trump Organisation, which houses the hundreds of companies ultimately owned by Trump.
Vietnam, with a population of 100 million, currently has around 70 golf courses and 100,000 local golfers, according to the Vietnam Golf Association.
“We welcome foreign investors to develop golf courses in Vietnam, where the number of golfers is rising rapidly on the back of strong economic growth,” said the association’s general secretary Vu Nguyen. REUTERS
