HUNG YEN, Vietnam: A new US$1.5 billion luxury golf and residential project backed by the Trump Organization officially broke ground this week just outside Hanoi, marking the family-run company's largest venture in Southeast Asia to date.

Vietnam's Prime Minister Pham Minh Chinh joined Eric Trump, son of U.S. President Donald Trump and executive vice president of the Trump Organization, for the ceremony in Hung Yen province, where the development will include three 18-hole golf courses and upscale residential estates.

The Trump Organization and local real estate firm Kinhbac City received government approval for the 990-hectare resort last week. The project is scheduled for completion by the end of 2027.

Eric Trump praised the partnership and described the planned developments as "the envy of all of Asia and the entire world." He also stated that he plans to visit Vietnam "very often" and is expected to meet with officials in Ho Chi Minh City on Thursday to discuss a potential skyscraper project.

Prime Minister Chinh said Eric Trump's visit had "motivated us to expedite this project," and urged officials to ensure local support and timely completion. He also promised that residents affected by land acquisition would be compensated fairly.

While local approval came quickly, the development coincided with broader economic negotiations between Hanoi and Washington. Vietnam was among the countries targeted in a recent U.S. tariff proposal by President Trump, though those tariffs have been paused for 90 days. Talks are underway in Washington, where Vietnam is offering trade concessions and potential market access for Elon Musk's Starlink internet service.

The Trump Organization continues to expand its international footprint, with golf and resort projects in regions including Indonesia and the Middle East.