In Hung Yen, Vietnam, Prime Minister Pham Minh Chinh and Eric Trump, son of former U.S. President Donald Trump, participated in a groundbreaking ceremony for a $1.5 billion luxury residential development featuring three 18-hole golf courses. The project received approval from Vietnam’s Communist authorities just a week prior, during ongoing trade negotiations with the U.S. concerning tariffs. Chinh emphasized that Eric Trump’s presence accelerated the project’s approval process and urged local authorities to support its completion.
During his visit, Eric Trump plans to meet with officials in Ho Chi Minh City to discuss potential plans for a skyscraper in the southern business hub. He expressed confidence that the development would be “the envy of all of Asia and of the entire world,” highlighting the partnership with Vietnamese real estate firm Kinhbac City. The collaboration focuses on creating five-star hotels, championship golf courses, luxurious residential estates, and other lavish amenities.
The context of the project coincides with discussions around tariffs, as Vietnam faced potential increases up to 46% under President Trump’s proposed “Liberation Day” global tariff plan. A 90-day postponement of these tariffs was later announced, allowing Vietnamese negotiators to seek compromises in Washington. Offers on the table include lowering tariffs, combating trade fraud, and creating favorable conditions for businesses like Elon Musk’s Starlink to introduce satellite internet services in Vietnam.
Located just south of Hanoi along the Red River, the project quickly gained local approvals. The Trump Organization has been involved in various luxury golf projects worldwide, from Indonesia to the Middle East, indicating its commitment to high-end real estate development.
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