Trump Group invests $1.5 billion complex in Hung Yen
Báo Tuổi Trẻ•09/10/2024
Former President Donald Trump's group will invest in a hotel, golf course, and residential complex in Hung Yen with a capital scale of about 1.5 billion USD.
Representatives of The Trump Organization and KBC representatives signed a cooperation agreement in Florida (USA) on September 25 - Photo: KBC
On October 8, Kinh Bac Urban Development Corporation (KBC) announced that the Trump Group will develop a hotel, golf course and residential area project through a cooperation agreement with Hung Yen Hotel Services Joint Stock Company. This is a subsidiary of KBC. On September 25, in Florida (USA), a memorandum of understanding was signed between the People's Committee of Hung Yen province, represented by the Standing Vice Chairman of the People's Committee of Hung Yen province, Nguyen Le Huy, and a consortium of investors selected by the Trump Organization, including Hung Yen Development Group, IDG - US Investment Fund, Horitus - US Investment Fund to build a hotel, golf course and residential area complex with a total investment of about 1.5 billion USD. According to the memorandum of understanding between the People's Committee of Hung Yen province and the Trump Group, the complex will include a 54-hole golf course system, a resort and villa area, providing services according to the highest standards of the Trump Group to serve special events and high-level conferences. The project also includes urban and residential complexes.
Mr. Eric Trump, executive vice president of The Trump Organization and Mr. Dang Thanh Tam, chairman of KBC signed a cooperation agreement witnessed by former US President Donald Trump on September 25, in Florida (USA) - Photo: KBC
On the same day, former US President Donald Trump witnessed the signing ceremony of a cooperation agreement between the Trump Group and Hung Yen Hotel Services Joint Stock Company. "We are extremely excited to officially enter this dynamic market. Vietnam has outstanding potential in the high-end hotel and entertainment industry," said Eric Trump, executive vice president of The Trump Organization, son of former President Trump. The representative of The Trump Organization hopes that Hung Yen province will create favorable conditions for the group to participate in investing in projects here in the new development phase of the locality, and contribute to promoting the development of diplomatic relations between Vietnam and the US. The representative of Hung Yen province, Standing Vice Chairman of the Provincial People's Committee Nguyen Le Huy, said that the Hung Yen provincial government will create favorable conditions for The Trump Organization to come to learn about and promote investment cooperation in Hung Yen province.
The Trump Organization is a multi-industry private corporation owned by the family of former US President Donald Trump. The Trump Organization has invested in and owned a series of hotels, golf courses, commercial real estate and housing across the United States, as well as in many countries around the world. In Asia, the Trump family's company has golf courses in Dubai (UAE), Indonesia, Oman and many real estates in Korea, the Philippines, and India. According to Mr. Dang Thanh Tam - Chairman of the Board of Directors of KBC, Hung Yen Hotel Services Joint Stock Company is focusing strongly on key projects in the fields of transportation and urban development. The cooperation with Hung Yen Hotel Services Joint Stock Company not only marks an important milestone in expanding international cooperation, but also contributes to enhancing the tourism landscape of the region, promoting sustainable development. "The Trump family has always been a pioneer in setting the highest standards for the hotel industry, and we look forward to this potential cooperation," Mr. Tam expected. Kinh Bac Urban Development Corporation, together with its subsidiaries and affiliates, manages more than 5,000 hectares of industrial park land and 900 hectares of urban area. Each year, KBC attracts more than 5 billion USD in foreign investment capital. With its potential, KBC believes that it will successfully develop this project with its partner The Trump Organization.
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