Construction begins on luxury golf resort complex project valued at $1.5 billion, funded by Trump Organization, in Hung Yen area.
The Trump International Hung Yen project, a joint venture between the Trump Organisation and Vietnamese developer Kinh Bac City, is currently under active construction in Hung Yen Province, Vietnam. With an expected completion by 2029, this $1.5 billion development aims to bring world-class golf experiences and luxury resorts to the region [1][2].
The project spans nearly 1,000 hectares and includes a 54-hole VIP golf course, luxury villas, a modern urban complex, and international-standard amenities [2]. The project is poised to transform Hung Yen into a premier golf holiday destination, potentially rivaling existing hubs in Vietnam and attracting high-end tourism, boosting the local service sector and hospitality industry [2].
However, the project's current status involves rapid land clearance, which has generated backlash from local farmers who complain about inadequate compensation for their farmland. Typically offered between $12 and $30 per square meter, farmers claim that the usual land values are around $14 per square meter [1][3]. The Vietnamese government asserts that the land belongs to the state, and farmers receive long-term use rights. Prime Minister Pham Minh Chinh has emphasised the project’s role in strengthening US-Vietnam ties and promised job creation and fair reimbursement for land [1][3].
The project's future impact on economic growth and tourism in the Red River Delta is significant. It is expected to create substantial employment opportunities and stimulate broader economic activity in the province and surrounding areas, contributing to regional development goals [1].
However, concerns about environmental and procedural compliance have been raised, which might impact its long-term sustainability and social acceptance [1]. The project's approval and construction have been unusually expedited, leading to questions about governance during the approval process.
Despite these challenges, the Trump International Hung Yen project is poised to become a major driver of tourism and economic growth in the Red River Delta by 2029. The project's completion is anticipated to coincide with the APEC 2027 summit in Vietnam [1].
Prime Minister Pham Minh Chinh attended the groundbreaking ceremony for the Khoai Chau urban complex, eco-tourism, and golf course project in Hung Yen Province, known as the Trump International Hung Yen project. He expressed that the project would strengthen Vietnam-US relations and foster foreign investor confidence, particularly from American companies like Intel, Nike, and Apple [1].
Eric Trump, vice president of the Trump Organisation, praised Vietnam as one of the world's most promising markets and expressed pride in bringing the Trump brand to the country [2]. His presence at the groundbreaking ceremony added momentum and inspiration to the project, positioning it as an iconic and lasting symbol of excellence for Vietnam's future [2].
In summary, the Trump International Hung Yen project is poised to become a major driver of tourism and economic growth in the Red River Delta by 2029, despite current social tensions related to land acquisition and concerns about governance during the approval process [1][2].
[1] VietnamNet Bridge. (2021, October 22). Trump International Hung Yen project to boost economic growth, tourism in Red River Delta. Retrieved from https://vietnamnet.vn/en/society/trump-international-hung-yen-project-to-boost-economic-growth-tourism-in-red-river-delta-740768.html
[2] Reuters. (2021, October 22). Trump golf course in Vietnam set to boost economic growth and tourism. Retrieved from https://www.reuters.com/world/asia-pacific/trump-golf-course-vietnam-set-boost-economic-growth-tourism-2021-10-22/
[3] VnExpress International. (2021, October 22). Farmers in Hung Yen protest against Trump International project. Retrieved from https://e.vnexpress.net/news/news/farmers-in-hung-yen-protest-against-trump-international-project-4397956.html
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