London
17 °C
Manchester
Glasgow
13 °C
Dublin
Belfast
Washington
Denver
Atlanta
Dallas
Houston Texas
30 °C
New Orleans
El Paso
Phoenix
Los Angeles
9 °C
18 °C
10 °C
9 °C
12 °C
10 °C
11 °C
Trump Organization breaks ground on $1.5-bn Vietnam project / Photo: © AFP
NYSE - LSE
| RBGPF | 6.25% | 67.2 | $ | |
| RYCEF | 0.82% | 11.01 | $ | |
| CMSC | -0.88% | 22.065 | $ | |
| CMSD | -1.56% | 21.83 | $ | |
| SCS | -2.24% | 10.025 | $ | |
| RIO | -0.15% | 62.145 | $ | |
| VOD | 0.14% | 10.405 | $ | |
| NGG | 0.15% | 73.528 | $ | |
| GSK | 0.39% | 38.55 | $ | |
| RELX | 0.15% | 55.07 | $ | |
| JRI | -0.63% | 12.74 | $ | |
| BP | -0.72% | 28.99 | $ | |
| BCC | -2.65% | 87.6 | $ | |
| AZN | -0.13% | 69.83 | $ | |
| BCE | -1.31% | 21.38 | $ | |
| BTI | 0.24% | 44.545 | $ |
Trump Organization breaks ground on $1.5-bn Vietnam project
Eric Trump attended a groundbreaking ceremony in Vietnam Wednesday for a $1.5-billion luxury resort and golf course due to be developed by his father US President Donald Trump's real estate group.
The Trump Organization, which builds luxury developments around the world, has come under scrutiny, with critics accusing Trump of leveraging his political position for personal financial gain.
Eric Trump, an executive vice president of The Trump Organization, and his wife Lara attended the event, as well as local partner the Kinhbac City Development Corporation (KBC).
Heavy security surrounded the event in Hung Yen province, 40 kilometres (25 miles) southeast of Hanoi, where the complex, reportedly featuring a 54-hole course and residential villas, will be built.
Hundreds of farmers watched the event from afar, mostly standing on a dyke overlooking the farms of oranges, pomelos, peach blossoms and kumquat trees that will be cleared for the luxury complex.
Do Thi Lieu, a 62-year-old farmer who had been given compensation for land that is now part of the development, told AFP that she was happy the Trumps were here but was worried she would now have nothing to do.
"We want him to arrange jobs for us," she said
- 'Incredible city' -
Eric Trump is also due to scout locations later this week for a potential tower project in Ho Chi Minh City, Vietnam's southern business hub.
Project director Charles Boyd-Bowman said in a meeting with Vietnam's Prime Minister Pham Minh Chinh in March that his group aimed to finish the golf resort in March 2027, before Vietnam hosts the Asia-Pacific Economic Cooperation (APEC) summit.
Vietnam and the United States are engaged in trade talks after President Trump threatened a 46 percent levy on Vietnamese goods as part of his global tariff blitz.
Trump visited the Vietnamese capital in 2019 for his abortive second summit with North Korean leader Kim Jong Un.
He described Hanoi at the time as an "incredible city", praising Vietnam for "the job they've done -- economic development".
H. Garcia--JDB
