Vietnam approves Trump Organization’s $1.5b golf complex in Hung Yen

The approval was signed by Deputy Prime Minister Tran Hong Ha, following recommendations from the Ministry of Finance and the Hung Yen People’s Committee.

Planned for Khoai Chau District, the project, proposed by Hung Yen Investment and Development Group JSC, a subsidiary of Kinh Bac City Development Holding Corporation, will span more than 990 hectares along the Red River.

With a total investment of VND39,787 billion (approximately $1.53 billion), it is divided into four main subzones.

The complex will include two eco-residential areas featuring ecological golf courses accommodating a combined population of 5,300.

Additionally, it will have a commercial urban services area for 29,700 people, green spaces, themed parks, and a social housing area.

The project is expected to begin in the second quarter of 2025 and be completed by the second quarter of 2029, with an operational period of 50 years.

The investors include a consortium between Hung Yen Investment and Development Group JSC and IDG Capital Vietnam, which represents the Trump Organization in the project.

Founded in 1927 and headquartered in New York, the Trump Organization, owned by former U.S. President Donald Trump and his family, is one of the world’s most recognized real estate developers with large-scale projects worldwide.

In September 2024, representatives of the Hung Yen People’s Committee and American partners, including the Trump Organization, signed a memorandum of understanding on the project.

During that event, provincial Party Committee secretary Nguyen Huu Nghia affirmed that Hung Yen would coordinate closely with central agencies to provide the Trump Organization with the best possible support.

The project was later presented to Prime Minister Pham Minh Chinh in March by Charles James Boyd Bowman, CEO of IDG Capital Vietnam. The Prime Minister expressed strong support for the project during the meeting.

IDG Capital is one of two U.S. investment funds chosen by the Trump Organization to carry out the development, which is said to meet its highest global standards.

Bowman emphasized that the company is working closely with Vietnamese authorities to accelerate progress and aims to complete the project by March 2027, in time to serve APEC 2027, which will be hosted by Vietnam.