On October 8, the Kinh Bac City Development Holding Corporation (KBC) announced that The Trump Organization will develop a large-scale hotel, golf course, and residential project through a partnership with Hung Yen Hotel Services Joint Stock Company, a subsidiary of KBC.

According to KBC, the project will meet the highest international standards with a total investment of about $1.5 billion.

The complex will include a 54-hole VIP golf course, luxury resorts, and a system of villas designed for high-level events and conferences. Additionally, it will feature a modern hotel system and urban residential area.

Eric Trump, Executive Vice President of The Trump Organization and the third son of former U.S. President Donald Trump, emphasized, "Vietnam holds exceptional potential in the luxury hospitality and entertainment sector."

Dang Thanh Tam, Chairman of KBC, expressed excitement about the partnership, noting that the Trump family has consistently set the highest standards in the hospitality industry, and KBC anticipates significant potential from this collaboration.

The Trump Organization is a private multi-sector corporation owned by the family of former U.S. President Donald Trump. It operates across various industries, including real estate, hotels, golf courses, entertainment, and asset management. The corporation is one of the leading global players in luxury real estate investment, with several large-scale projects in multiple countries.

Founded in 1927, The Trump Organization initially focused on construction and real estate development in New York. Upon taking over in 1971, Donald Trump expanded the company into other areas such as hotels, golf courses, entertainment, asset management, brokerage, and marketing.

During his tenure as U.S. President from 2017 to 2020, Donald Trump stepped down from managing the Trump Organization to avoid using his position to increase his wealth.

The Trump Organization was placed into a trust to prevent conflicts of interest, and Donald Trump handed over leadership to his children in 2017. Despite this, the business remains in the Trump family’s control.

Manh Ha