On October 8, Kinh Bac Urban Development Corporation (KBC) announced that Trump Group will develop a hotel, golf course and residential project through a cooperation agreement with Hung Yen Hotel Services Joint Stock Company. This is a subsidiary of KBC.
Previously, on September 25, 2024, in Florida (USA), a Memorandum of Understanding signing ceremony took place 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 the consortium of investors selected by the Trump Organization, including Hung Yen Development Group, IDG - US Investment Fund, Horitus - US Investment Fund to build a complex of hotels, golf courses, and residential areas with a total investment of about 1.5 billion USD.
According to the Memorandum of Understanding between the Hung Yen Provincial People's Committee and the Trump Group, the complex will include a 54-hole golf course, 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.
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| Representatives of The Trump Organization and KBC representatives signed a cooperation agreement in Florida (USA) on September 25. Source: KBC |
On the same day, former US President Donald Trump witnessed the signing ceremony of cooperation between Trump Group and Hung Yen Hotel Services Joint Stock Company.
“We are extremely excited to officially enter this dynamic market. Vietnam possesses outstanding potential in the luxury hotel and entertainment industry,” said Mr. Eric Trump, Executive Vice President of The Trump Organization.
The Trump Organization representative hopes that Hung Yen province will create conditions for this 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.
Representing Hung Yen province, Permanent 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 and learn about and promote investment cooperation in Hung Yen province.
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| Eric Trump, Executive Vice President of The Trump Organization and Mr. Dang Thanh Tam, Chairman of KBC signed a cooperation agreement under the witness of former US President Donald Trump, on September 25, in Florida (USA). Photo: KBC |
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 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 areas. 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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