Hung Yen, Vietnam – In a bold new chapter for Vietnam’s luxury tourism and real estate sector, Eric Trump on Wednesday led the groundbreaking ceremony for a $1.5 billion Trump-branded resort complex—the Trump Organization’s most ambitious project in Southeast Asia to date.
“This will blow everybody away,” said Eric Trump, Executive Vice President of the Trump Organization, as he addressed guests and government leaders in Hung Yen province, just outside Hanoi. “This project—and the many more to come—will be the envy of Asia and the world. And Vietnam deserves it,” he declared.
A New Landmark on the Red River
The sprawling development spans more than 990 hectares (2,446 acres) along the scenic Red River and is being developed in partnership with Kinh Bac City Development Holding Corp., a major Vietnamese real estate firm. The plan includes five-star hotels, championship golf courses, luxury villas, and high-end residential communities, positioning it as one of the region’s most significant integrated resorts.
The first phase is set for completion in two and a half years, with the full project expected to open by 2029.
Prime Minister Pham Minh Chinh, who also attended the event, hailed the project as a symbol of deepening Vietnam–U.S. ties. He also expressed hope of welcoming former President Donald Trump to Vietnam in the near future. “This project not only reflects growing investor confidence in Vietnam, it also strengthens the strategic partnership between our two nations,” he said.
Big Business Amid High-Stakes Trade Talks
The Trump Organization’s high-profile investment comes at a delicate moment: Vietnamese and U.S. officials are currently locked in a second round of trade negotiations in Washington, seeking to avoid a punitive 46% U.S. tariff on Vietnamese goods.
Though temporarily reduced to 10% for 90 days, the threat of steep tariffs looms large. Washington remains concerned about Vietnam’s $123 billion trade surplus with the U.S., the third-highest globally. In response, Hanoi has pledged to increase purchases of U.S. goods, reduce tariffs on American imports, and crack down on trade fraud involving Chinese transshipments.
Despite these challenges, U.S.–Vietnam trade has surged over the past decade, reaching $150 billion in 2024. Vietnam continues to attract foreign investors looking to diversify away from China—many of whom began shifting production during Trump’s first term.
Trump Organization Eyes Expansion in the South
Following the Hung Yen event, Eric Trump is expected to travel to Ho Chi Minh City on Thursday for discussions with local officials about a potential Trump-branded tower project in the Thu Thiem urban district, a rapidly developing financial and commercial hub.
A Strategic Bet on Vietnam
With Vietnam’s economy among the fastest-growing in Southeast Asia, and the country aiming for 8% GDP growth in 2025, the Trump Organization’s investment could help signal a renewed wave of high-end foreign capital flowing into the country.
For Eric Trump, the resort is not just about business—it’s about vision. “I will be here incredibly often,” he said. “Vietnam is rising, and we want to be part of that story.”
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Source: Vietnam Insider