On Wednesday, Vietnam’s Prime Minister Pham Minh Chinh and Eric Trump, son of U.S. President Donald Trump, officiated a groundbreaking ceremony for a $1.5 billion luxury residential development outside Hanoi. This expansive project will encompass three 18-hole golf courses and spans 2,446 acres. The Trump Organization, along with local partner Kinhbac City, had received approval from Vietnam’s Communist authorities just a week prior.
Prime Minister Chinh noted that Eric Trump’s presence had prompted expedited efforts for the project’s progression and encouraged local authorities to provide maximum support. Meanwhile, Eric Trump expressed enthusiasm for the development, claiming it would become “the envy of all of Asia and of the entire world,” and promised frequent visits to Vietnam. In addition to this project, Eric Trump is scheduled to meet with officials in Ho Chi Minh City to discuss potential plans for a skyscraper.
The agreement between the Trump Organization and its Vietnamese partners focuses on developing five-star hotels, championship-style golf courses, luxurious residential estates, and high-end amenities. This investment comes at a time when Vietnam is engaged in tariff negotiations with the United States, with the prospect of high tariffs on Vietnamese goods under consideration. However, the implementation of these tariffs has been delayed for 90 days to allow for discussions. Vietnamese trade negotiators are currently in Washington seeking compromises, including reduced tariff rates, enhanced measures against trade fraud, and favorable conditions for U.S. businesses like Elon Musk’s Starlink to launch satellite internet services in Vietnam. The swift approval of the development project reflects both the urgency and significance of U.S.-Vietnam economic relations.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
