Government approves Trump Group's $1.5 billion urban and golf course project

Accordingly, the Prime Minister approved the investment policy of the project of urban complex, resort, eco-tourism, sports and high-class golf course according to international standards covering an area of 990.43 hectares in 7 communes of Khoai Chau district, Hung Yen .

The project is divided into 4 sub-areas, including an ecological residential area associated with a high-class golf course, with a population of 3,500 people; an ecological residential area associated with an ecological golf course with a population of 1,800 people, a commercial and service urban area with 29,700 people; a green area and a theme park. The golf course is designed with 54 holes, including a 36-hole and an 18-hole course.

The project will be implemented in 7 communes of Khoai Chau district, Hung Yen.

PHOTO: HUNGYEN.GOV.VN

In addition, the project dedicates 7.28 hectares to develop social housing and invest in synchronous construction of infrastructure throughout the entire project.

The total investment capital of the project is 39,787 billion VND (equivalent to 1.533 billion USD), including compensation and resettlement support costs of 4,087 billion VND, implementation costs of 35,700 billion VND. Expected implementation from the second quarter of 2025 to the second quarter of 2029, with an operating period of 50 years.

The Government assigns the People's Committee of Hung Yen province to take full responsibility for the information and content of the report. Responsible for selecting investors in accordance with legal regulations, ensuring that investors for the project are selected correctly and sufficiently, and that specific mechanisms have been approved by competent authorities.

The Ministry of Finance is responsible, within its authority, for the contents of information synthesizing appraisal opinions of relevant agencies; is fully responsible for the accuracy and completeness of the dossier and results of the investment policy appraisal report, ensuring compliance with the provisions of the law on investment and relevant regulations.

Previously, the Ministry of Finance reported to the Prime Minister on approving the investment policy for the Khoai Chau urban complex, eco-tourism, and golf course project, proposed by Hung Yen Investment and Development Corporation.

Regarding investor selection, the Ministry of Finance proposed to assign the People's Committee of Hung Yen province to implement according to its authority, applying special cases according to legal regulations.

In September 2024, the People's Committee of Hung Yen province signed a memorandum of understanding with US partners, including The Trump Organization. The investors proposed a project scale of 1.5 billion USD, implemented by a consortium of Hung Yen Investment and Development Group Joint Stock Company and IDG Capital (representing the Trump Organization).

Thanhnien.vn

Source: https://thanhnien.vn/chinh-phu-chap-thuan-du-an-do-thi-san-golf-15-ti-usd-cua-tap-doan-trump-185250516184038173.htm