Trump Organization to manage $1.5bn golf project in northern Vietnam upon completion

The firm has published the meeting minutes and resolutions, which detailed progress on the project.

Bowman confirmed that the project commenced construction in May and is being developed in line with the Trump Organization’s global standards.

The project is progressing on schedule with effective coordination across development, legal, commercial, and project management teams, he said.

He affirmed that the Trump Organization will assume full management duties once the project is completed, expressing optimism that the complex will help boost tourism and elevate Vietnam’s global image.

Spanning nearly 1,000 hectares, the project will include a 54-hole VIP golf course, luxury resorts, high-end villas, a modern urban area, and other international-standard amenities.

In connection with the project, local media have recently reported that the Trump Organization received $5 million from a franchise agreement with a subsidiary of real estate developer KBC, which is headquartered in northern Bac Ninh Province.

At the shareholders’ meeting, participants also raised questions regarding the potential impacts of U.S. tax policies on foreign direct investment and KBC’s operations.

KBC executives acknowledged that trade tariffs could have certain effects, but emphasized that the corporation’s investor base is diversified across countries such as Japan, South Korea, China, Singapore, the U.S., and several European nations.

As such, the tax policies are seen as a fair competition factor.

“Negotiations on U.S. tariff policies are ongoing. In reality, investors continue to sign contracts, so there is no need for pessimism,” a KBC representative reassured shareholders.

Addressing a proposal from Dragon Capital that KBC should prioritize developing existing projects like Trang Cat and Trang Due 3 to generate revenue and cash flow, the leader of the company stressed that expanding into new projects ensures future land supply amid increasing scarcity and prolonged licensing procedures.

KBC aims to obtain consolidated revenue of VND10 trillion ($381.8 million) and post-tax profit of VND3 trillion ($115 million) in 2025.