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The son of US President Donald Trump, Eric Trump, and Vietnamese Prime Minister Pham Minh Phinh have inaugurated the construction of a $1.5 billion Trump Organization luxury tourist complex near Hanoi. According to Reuters, the project covers 990 hectares and will include three 18-hole golf courses, luxury hotels, premium housing, and exclusive infrastructure.
Construction began less than a week after receiving approval from the Vietnamese authorities. The authorities stated that E. Trump’s visit was “a motivation to speed up the implementation”, and the local administration was instructed to facilitate the construction as much as possible.
Politics, customs negotiations and business
The Trump family’s investment activity in Vietnam coincides with trade negotiations between Hanoi and Washington. Earlier, US President Donald Trump threatened to impose duties of up to 46% on Vietnamese goods, but later gave 90 days for negotiations.
Vietnam is seeking to avoid harsh restrictions by offering incentives to US companies, including Elon Musk’s Starlink, lowering barriers to US imports, and promising to crack down on counterfeiting.
Tourism in focus
Vietnam is becoming a new magnet for luxury tourism investors. The government is actively promoting the country as a tourist and business destination in Asia, with expanding air links, simplified visa requirements and the construction of five-star resorts.
The Trump Organization has already stated that projects in Vietnam “will be the envy of Asia and the world”. Eric Trump has promised frequent visits to the country and announced plans for a new skyscraper in Ho Chi Minh City, the business capital of Vietnam.
Geopolitics and the Trump brand
The expansion of Trump’s business in Asia may also have geopolitical implications, as cooperation with communist Vietnam is taking place against the backdrop of increased competition with China. Donald Trump himself demonstrates a desire not only for political revenge, but also to consolidate his family’s business in strategic regions of the world.
