Fistful of dollars for Vietnamese farmers displaced for Trump golf club

Vietnamese farmers face threat of being displaced and jobless as US President Donald Trump's family-backed golf resort is scheduled for construction next month in Hung Yen province.

Thousands of villagers are being offered compensation packages worth $3,200 and rice provisions to vacate the land, their home and only source of livelihood, according to six people with direct knowledge and documents seen by Reuters.

The project is the first partnership for the family business of Trump in Vietnam, which fast-tracked approvals as it negotiated a crucial trade deal with Washington.

Developers have cut compensation forecasts from an initial estimate exceeding $500 million, said one person familiar with the plans, not disclosing reasons for the reduction.

The 990-hectare site designated for the golf course currently supports fruit farms growing bananas, longan and other crops. While some see opportunity, many farmers are elderly and fear they won't find an alternative means of survival. 

Vietnamese real estate company Kinhbac City and its partners will develop the luxury golf club after paying the Trump Organisation $5 million for brand licensing rights, according to regulatory filings and a source familiar with the deal.

Vietnam's argiculture ministry, Hung Yen authorities, the Trump Organisation and Kinhbac City did not reply to questions on compensation rates.

Vietnam's Prime Minister Pham Minh Chinh said farmers would be reimbursed fairly when he spoke in May at the groundbreaking ceremony for the golf project.

Conversely, lawyers and investors in the province said the golf club would create better jobs and enrich villagers.