Trump Group takes charge of management when $1.5 billion golf project in Hung Yen is completed

The information was shared by Mr. Charles Boyd Bowman - representative of Trump International Hung Yen, at the annual general meeting of shareholders of Kinh Bac Corporation (KBC).

Close-up of the groundbreaking ceremony of Trump Group's $1.5 billion project in Hung Yen - Photo: HONG QUANG

Kinh Bac Urban Development Corporation - JSC (KBC) has just announced the meeting minutes and resolutions of the 2025 Annual General Meeting of Shareholders.

According to the minutes, KBC representative reported on the implementation of the Khoai Chau Urban, Tourism , Ecological and Golf Course Complex project (commercial name: Trump International Hung Yen). Trump International Hung Yen representative, Mr. Charles Boyd Bowman, was invited to clarify further issues related to the project.

According to Mr. Bowman, the project was started in May 2025, implemented according to Trump Group standards, expected to promote tourism and promote Vietnam's image to the world .

"The project is being implemented on schedule, with effective coordination between development, legal, commercial and project management departments," said a representative of Trump International Hung Yen.

In the coming time, Mr. Bowman affirmed that the project will continue to be implemented as planned, and at the same time, the Trump Group will be responsible for managing the project after completion.

Also related to the above-mentioned 1.5 billion USD project, recently domestic media simultaneously reported that Trump Group recorded a revenue of 5 million USD from a franchise contract with a member of Kinh Bac.

Also at the congress, in addition to the issue of cooperation with Trump International, KBC shareholders raised questions about the impacts of US tariff policies.

According to KBC leaders, tariff policy will have a certain impact on FDI activities in general and KBC in particular.

However, this person said that KBC's investors come from many countries such as Japan, Korea, China, Singapore, the US and European countries, so tariffs are considered a factor of equal competition.

Currently, the US tariff policy with countries is still in the process of negotiation. "In fact, many investors continue to sign contracts, so we should not be pessimistic about the current situation," KBC leaders reassured shareholders.

Regarding the opinion of Dragon Capital Fund representative that KBC should focus resources on prioritizing the development and exploitation of existing projects such as Trang Cat, Trang Due 3 to generate revenue and real cash flow, KBC leaders said that approaching new projects is a long-term step to ensure supply for investors, in the context of increasingly scarce land funds and lengthy licensing procedures.

Regarding this year's business target, the general meeting of shareholders approved the consolidated revenue plan of VND10,000 billion and consolidated after-tax profit of VND3,000 billion.

BINH KHANH

Source: https://tuoitre.vn/tap-doan-trump-chiu-trach-nhiem-quan-ly-khi-du-an-golf-1-5-ti-usd-o-hung-yen-hoan-thanh-20250702084517716.htm