Overview

• The groundbreaking ceremony in Hung Yen marks the start of a $1.5 billion resort featuring three 18-hole golf courses and a residential complex, set for completion in 2027.
• Eric Trump, representing the Trump Organization, attended the event and is scheduled to meet Ho Chi Minh City officials to discuss a potential skyscraper project.
• Vietnamese leaders, including Communist Party head To Lam, were invited to the ceremony, with Prime Minister Pham Minh Chinh confirmed to attend.
• The project aligns with Vietnam's efforts to attract foreign investment and strengthen ties with the U.S. as it seeks to avoid 46% reciprocal tariffs through trade concessions.
• Key financial terms of the Trump Organization's partnership with local developer Kinhbac remain undisclosed, raising questions about cost-sharing and revenue arrangements.