The club's developers have said the US$1.5bil project will include, when completed in 2027, three 18-hole golf courses and a residential complex. — Reuters
HANOI: The Trump Organisation and its local partner were due to hold a groundbreaking ceremony yesterday for a luxury golf resort close to Vietnam’s capital Hanoi, according to invitations to the event.
Vietnam’s government approved the plan last week and the ceremony was to be attended by US President Donald Trump’s son Eric Trump, organisers said.
The event comes as the South-East Asian country negotiates with Washington to avoid punitive tariffs.
Its developers have said the US$1.5bil project will include, when completed in 2027, three 18-hole golf courses and a residential complex, and could be followed by additional multibillion-dollar investments.
Local authorities of the Hung Yen province, where the golf club will be built, also invited Vietnam’s leaders to the event, including the head of the ruling Communist Party, To Lam, who was born in the province, according to the invitation.
Vietnam’s state news agency said Prime Minister Pham Minh Chinh was to participate in a groundbreaking event yesterday in Hung Yen, without specifying for which project.
Apart from the ceremony, Eric Trump is also set to meet Ho Chi Minh City officials tomorrow to explore plans for a possible skyscraper in Vietnam’s southern business hub.
“Vietnam has tremendous potential for luxurious hospitality and entertainment,” Eric Trump, who is a senior vice-president of the Trump Organisation, said in October when the president’s family business announced a partnership with Vietnamese real estate firm Kinhbac City.
“We are incredibly excited to enter this dynamic market.”
The strategic collaboration, whose terms are not public, “will focus on developing 5-star hotels, championship-style golf courses, and luxurious residential estates and unparalleled amenities in Vietnam,” the consortium said in October.
It was unclear how the two partners share costs and revenues, and what conditions have been set for use of the Trump franchise.
Vietnam has made multiple pledges to the White House to avoid 46% “reciprocal” tariffs that would kick off in July after a global pause if no bilateral deal is reached.
They include lower tariffs and non-tariff barriers, a fight against trade fraud, and favourable conditions to Starlink, owned by Trump’s close ally Elon Musk, to roll out satellite Internet services in the country. — Reuters
