Eric Trump and Vietnam’s Prime Minister broke ground on a massive $1.5 billion luxury golf resort project amid ongoing U.S. tariff negotiations, signaling a powerful economic alliance that could transform Vietnam’s tourism landscape and strengthen diplomatic ties.
Key Takeaways
- The Trump Organization and Vietnamese partners have launched a $1.5 billion luxury resort project near Hanoi featuring three 18-hole golf courses, five-star hotels, and luxury residences across 2,446 acres.
- Vietnam’s Prime Minister personally attended the groundbreaking ceremony with Eric Trump, demonstrating the project’s national importance.
- The development coincides with critical trade negotiations between the U.S. and Vietnam regarding tariffs, which President Trump temporarily reduced from 46% to 10% for 90 days.
- Vietnam has committed to addressing counterfeiting, trade fraud, and increasing purchases of American goods while seeking favorable conditions for U.S. businesses.
- The ambitious project is scheduled for completion by the end of 2027 and represents the Trump Organization’s strategic expansion into Southeast Asia’s luxury hospitality market.
A Strategic Partnership in Vietnam
The Trump Organization’s expansion into Vietnam marks a significant milestone in international luxury development and U.S.-Vietnam economic relations. The groundbreaking ceremony near Hanoi brought together Eric Trump and Vietnam’s Prime Minister Pham Minh Chinh, highlighting the project’s importance to both parties. This massive development will transform approximately 2,446 acres into a world-class destination featuring three championship-style golf courses, five-star hotels, and exclusive residential estates that promise to elevate Vietnam’s luxury tourism profile on the global stage.
“We are incredibly excited to enter this dynamic market,” said Eric Trump, Executive Vice President of the Trump Organization.
The development represents a partnership between the Trump Organization and Kinh Bac City, combining American luxury hospitality expertise with local knowledge. Vietnamese authorities have expedited approval processes for the project, demonstrating their commitment to attracting high-profile international investments. Prime Minister Chinh’s involvement signals the national significance of this venture, which is expected to create thousands of jobs and stimulate economic growth in the region around Hanoi.
Economic Implications Amid Trade Negotiations
The timing of this major investment is particularly noteworthy as it coincides with delicate trade negotiations between the United States and Vietnam. President Trump recently announced tariffs on various countries, initially proposing a 46% rate on Vietnamese imports before temporarily reducing it to 10% for 90 days. This adjustment creates a window for both nations to negotiate more favorable terms, with Vietnam actively working to address American concerns about its substantial trade surplus with the U.S., which Vietnamese state media has acknowledged is viewed as unsustainable.
“Motivated us to expedite this project,” said Prime Minister Pham Minh Chinh during the groundbreaking ceremony.
As part of its commitment to rebalancing trade relations, Vietnam has pledged to combat counterfeiting and trade fraud while substantially increasing purchases of American goods. Additionally, the country is working to provide favorable conditions for U.S. businesses, including Elon Musk’s Starlink satellite internet services. This comprehensive approach demonstrates Vietnam’s strategic prioritization of American investment and trade partnerships, with the Trump resort project serving as a flagship example of this economic collaboration.
Expanding the Trump Hospitality Empire
The Vietnam development represents a significant expansion of the Trump Organization’s global luxury portfolio, which already includes prestigious properties across Indonesia, the Middle East, and other international markets. Beyond the current $1.5 billion project near Hanoi, Eric Trump and Trump Organization representatives are exploring additional Vietnamese opportunities, including a potential skyscraper development in Ho Chi Minh City. In October 2024, the Trump Organization formalized a partnership with Hung Yen Hospitality to develop luxury amenities throughout Vietnam.
“This will be the envy of all of Asia and the entire world,” said Eric Trump, describing the ambitious scope of the development.
With completion targeted for the end of 2027, the resort will introduce Trump’s signature luxury standards to Vietnam’s growing high-end tourism market. The development’s championship golf courses will likely attract international tournaments and wealthy tourists from across Asia and beyond. This prestigious project aligns with Vietnam’s ambitions to elevate its tourism sector and create world-class destinations that can compete with established luxury markets in the region such as Thailand, Indonesia, and Singapore.
Local Impact and Community Considerations
While the economic benefits of this massive development are substantial, local communities have expressed hope for fair compensation and transparent processes regarding land acquisition. Vietnamese officials have pledged to ensure just treatment for those affected by the development, promising smooth procedures and appropriate compensation. The project’s scale necessitates careful management of community relations, as the 2,446-acre footprint will significantly transform the local landscape and economy.
The Trump Organization’s track record with similar developments in other countries suggests a commitment to creating world-class destinations that benefit local economies through job creation, tourism growth, and infrastructure improvements. In Vietnam, this investment comes at a pivotal time as the country continues its economic transformation and seeks to strengthen its position as a premier destination for international luxury tourism and investment, leveraging President Trump’s global brand recognition to accelerate this progress.
