Former US President Trump’s firm eyes real estate investment in Vietnam’s Hung Yen
Former US President Trump’s firm eyes real estate investment in Vietnam’s Hung Yen
The Trump Organization, an American real estate conglomerate owned by former U.S. President Donald Trump, has expressed interest in building hotels, golf courses, and entertainment complexes in Hung Yen Province, northern Vietnam.
A property belonging to The Trump Organization, a New York-based American real estate conglomerate owned by former U.S. President Donald Trump. Photo: Vietnam News Agency |
As part of their working visit to Hung Yen, representatives of The Trump Organization attended a meeting with Hung Yen officials on Monday to discuss a potential joint venture with Hung Yen Investment and Development Group JSC.
During the meeting, the representatives expressed interest in building hotels, golf courses, and recreational and entertainment complexes in the province.
A deal between The Trump Organization and Hung Yen would allow the former to invest in the province at the beginning of its new development phase, and contribute to promoting the comprehensive strategic partnership between Vietnam and the U.S..
Chairman of the Hung Yen administration Tran Quoc Van briefed his U.S. guests on province’s potential, including its strong cultural heritage, highly-qualified workforce, favorable location, and well-developed transport infrastructure, Tien Phong (Vanguard) newspaper reported.
Highlighting Hung Yen’s plans to further develop its infrastructure projects, especially those related to transport, industrial parks, and urban areas, Van explained that the province is already well-positioned for continued development.
He also affirmed that local authorities have a proven track record in supporting foreign investors and expediting administrative procedures for investment projects.
As of August, Hung Yen was home to 584 foreign direct investment projects with a combined registered capital of over US$7.6 billion, with Japan as the top investor, followed by China and South Korea, according to the Vietnam News Agency.
Nguyen Huu Nghia, secretary of the Hung Yen Party Committee, said that the provincial administration will create favorable conditions within the legal framework for the American firm during its investment process in the province.
Nghia said he would direct local authorities to closely coordinate with central agencies in providing the best possible support for the U.S. real estate developer to proceed with its investment in Hung Yen.
Founded in 1927, The Trump Organization, headquartered in New York, is one of the world’s leading property developers.
It currently operates large-scale projects around the world.
