On May 21, Eric Trump, senior vice president of the Trump Organization, and Vietnamese Prime Minister Pham Minh Chinh, held a ceremony for a $1.5 billion luxury residential development that includes three 18-hole golf courses just outside of Vietnam’s capital, Hanoi.
The project spanning 990 hectares (2,446 acres) in northern Vietnam’s Khoai Chau district will include a golf course the size 336 American football fields, residential areas, commercial spaces and parks. The decision approving the investment was signed by Deputy Prime Minister Tran Hong Ha, the VN Express newspaper reported.
Associated Press
It was on May 16 that Vietnam approved the project. The Trump Organization is cooperating with real estate developer Kinhbac City to complete it by 2029.
The Trumps are just getting started in Vietnam. On May 22, Eric also met with Ho Chi Minh City officials to “explore plans for a possible skyscraper in Vietnam’s southern business hub…”
Trump and Musk take global corruption tour to Southeast Asia
Vietnam did not expedite this project as an act of charity, or because of the merits of such a luxury development. On so-called “Liberation Day,” Trump implemented a 46% tariff on Vietnam, though it has been postponed. The expiration of this 90 days without a deal would be devastating for Vietnam’s export-based economy.
Vietnamese trade negotiators are in Washington to discuss compromises. Offers made so far include lowering tariffs and non-tariff barriers, intensifying the fight against trade frauds and counterfeiting, and providing favorable conditions to Starlink, owned by Trump’s close ally Elon Musk, to roll out satellite internet services in Vietnam.
NBC News
In essence, the luxury golf and real estate development was expedited to benefit Vietnam in trade negotiations. This is yet another example of Trump’s business interests superseding American geopolitical, economic, and national security interests.
