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The project includes two 54-hole golf course systems, along with a network of hotels and resorts and a modern residential complex

Vietnam’s real estate developer said on October 8 that its subsidiary has teamed up with The Trump Organization to develop a $1.5 billion golf course. The Trump Organization will also develop a hotel project in Vietnam's Hung Yen province.

The project includes two 54-hole golf course systems, along with a network of hotels and resorts and a modern residential complex.

"We are excited to enter this dynamic market. Vietnam has potential in the luxury hotel and entertainment industry," Eric Trump, Executive Vice President of The Trump Organization, said in the statement.

Memorandum Signed by Vietnamese President

A memorandum was signed between the two companies at the end of September. It was signed by the Vietnamese President To Lam in the United States.

According to the provincial administration, representatives from the Trump Organization visited the province and had talks with Hung Yen authorities. They also discussed investment opportunities.

Primary Source of  Trump Organization is Golf Course and Resort Business

According to Reuters analysis, the primary source of cash flow for the Trump Organization is the golf course and resort business. It is the family business of US Republican presidential candidate Donald Trump that includes hundreds of companies owned by Trump.

Trump Organization has not mentioned the time required for the construction of the project.

According to the Vietnam Golf Association, the country has around 70 golf courses and 100,000 local golfers.