Less than a year from signing to xổ số hôm nay start of construction, xổ số hôm nay USD-1.5-billion Trump International Hung Yen project has made xổ số hôm nay public curious: What has made xổ số hôm nay process so fast? Mr. Dang Thanh Tam, Chairman of xổ số hôm nay Board of Directors of Kinh Bac, shared exclusively with Forbes Vietnam xổ số hôm nay story behind xổ số hôm nay cooperation with xổ số hôm nay Trump Organization in this project.
Groundbreaking ceremony of Trump International Hung Yen project.
Photo: Government Information
xổ số hôm nay USD-1.5-billion project took place 'rapidly' from signing to commencement. Could you share xổ số hôm nay real story behind this collaboration?
Mr. Dang Thanh Tam: xổ số hôm nay Khoai Chau golf course complex project has been studied by us since 2023. In 2024, it was continued to complete xổ số hôm nay preparation steps, put it into xổ số hôm nay planning of Hung Yen province and was approved by xổ số hôm nay Prime Minister. xổ số hôm nay project was actually signed on September 25, 2024, before xổ số hôm nay US presidential election. Thus, if you had known that xổ số hôm nay project had been prepared very carefully in advance, it would have been completely understandable to start construction at this time.
Earlier this year, we received a high-tech investor in Hung Yen - a USD-500-million project being licensed and taken less than a month to commence. Thus, xổ số hôm nay golf course complex is not an exceptional case. xổ số hôm nay current Vietnamese government has a very clear policy: projects with large capital, high technology and in xổ số hôm nay field of encouragement are prioritized, similar to many other countries.
Trump International Hung Yen is positioned as xổ số hôm nay most high-end golf course in Vietnam, with Trump 5++ resort exceeding current standards. We hope to create a new push for tourism around Hanoi, contributing to promoting Vietnam's image to xổ số hôm nay world.
To be honest, xổ số hôm nay government is currently very dynamic and transparent, so xổ số hôm nay fact that large investors are licensed quickly is gradually becoming a familiar image.
Was Kinh Bac "chosen" or Was this xổ số hôm nay result of xổ số hôm nay company's strategy of proactively approaching international partners? What are xổ số hôm nay key factors that convince Kinh Bac of xổ số hôm nay Trump Organization?
Mr. Dang Thanh Tam: From an industrial park developer, Kinh Bac has expanded into xổ số hôm nay field of social housing, providing a large housing fund for workers in high-tech parks – which has attracted many manufacturing corporations for Apple such as Foxconn, Luxshare, Goertek and LG partners with a total investment of tens of billions of USD.
Grasping xổ số hôm nay passionate needs of investors, especially from Korea, Japan and Vietnam, we have thoroughly researched and prepared xổ số hôm nay project in a professional and methodical way. xổ số hôm nay project receives support from major international partners, leading experts, and xổ số hôm nay companionship of xổ số hôm nay company's key staff, family and friends.
xổ số hôm nay number of international investors renting land to build our factories such as Korean and Japanese investors is increasing, and most of them are high-class golfers. Therefore, our participation in this high-end golf course project not only increases its attractiveness, but also provides more high-quality services to customers in our industrial parks.
President Donald Trump visited Vietnam twice during his first term and showed his love for our country. Thanks to xổ số hôm nay support of local leaders, especially Hung Yen Secretary, and on xổ số hôm nay occasion of General Secretary To Lam's business trip to attend xổ số hôm nay United Nations General Assembly in New York on September 2024, we signed a cooperation agreement with partners and xổ số hôm nay People's Committee of Hung Yen province, marking an important step forward of xổ số hôm nay project.
It is indeed not easy to be chosen, because xổ số hôm nay Trump Organization is a huge global brand. They only work with those who are transparent, not involved in money laundering or on xổ số hôm nay government's watch list. After checking and seeing that I was 'clean', they just started cooperating.
Mr. Dang Thanh Tam, Chairman of xổ số hôm nay Board of Directors of Kinh Bac.
Photo: Government Information
With a scale of USD 1.5 billion, what is xổ số hôm nay capital structure and xổ số hôm nay division of roles between Kinh Bac, IDG Capital and xổ số hôm nay Trump Organization? On Kinh Bac's side, how does xổ số hôm nay company raise capital for this project?
Mr. Dang Thanh Tam: Kinh Bac's total debt is currently only 50% of equity, much lower than xổ số hôm nay average loan which is 3 times xổ số hôm nay capital of listed enterprises. We are committed to lending by major banks in Vietnam.
Investment funds are also very supportive. Kinh Bac is implementing a project of over VND 80,000 billion, so xổ số hôm nay investment in xổ số hôm nay VND-40,000-billion project is not too big. IDG Capital is ready to act as a focal point for financial arrangements and also participate in capital. Thus, in terms of capital, we do not have any obstacles because xổ số hôm nay nature of xổ số hôm nay project is quite feasible.
On xổ số hôm nay groundbreaking day of xổ số hôm nay Trump Hung Yen project, a large number of people came to film, expressing their joy and welcoming Mr. Eric Trump, Vice Chairman of xổ số hôm nay Trump Organization, and his wife Lara Trump. Many people in Hung Yen also invited us to a party to thank us for bringing xổ số hôm nay project to xổ số hôm nay locality, which was very touching.
How is this project positioned in xổ số hôm nay long-term development strategy of Kinh Bac, which is known as a strong unit in industrial real estate and housing in industrial parks?
Mr. Dang Thanh Tam: Perhaps many people do not know that I have entered into a joint venture with Saigontourist to invest in building and owning many hotels throughout Vietnam, so xổ số hôm nay tourism field is no stranger to us.
Therefore, when favorable conditions come, we deploy very quickly! At xổ số hôm nay same time, we understand xổ số hôm nay Trump brand value and have great faith in xổ số hôm nay Trump Organization and its high international standards.
Although built a few decades ago, their golf course and villa still retain their value and are not outdated. Their membership is considered one of xổ số hôm nay top clubs in xổ số hôm nay world, with xổ số hôm nay waiting list for membership in xổ số hôm nay United States still very long. On xổ số hôm nay day of xổ số hôm nay start of construction, many golfers registered for membership – this is a vivid and rare proof that not any brands could achieve.
Mr. Dang Thanh Tam, chairman of Kinh Bac and Mr. Morriss Chang, founder of TSMC
After xổ số hôm nay groundbreaking ceremony, what is xổ số hôm nay actual implementation progress now, sir?
Mr. Dang Thanh Tam: xổ số hôm nay total estimated time to complete xổ số hôm nay project is 4 years, with xổ số hôm nay first phase including 2 high-class golf courses, qualified to hold major golf tournaments in xổ số hôm nay world, along with a comfortable clubhouse, a chain of luxury villas and a part of xổ số hôm nay resort put into operation.
xổ số hôm nay key factor is xổ số hôm nay quality of high-class works. We have extensive professional support from xổ số hôm nay Trump Organization's experts, from design to construction, every step follows a strict process.
As soon as it is completed, xổ số hôm nay project will be handed over to xổ số hôm nay Trump Organization to manage and operate, ensuring xổ số hôm nay quality standards of xổ số hôm nay Trump brand.
In xổ số hôm nay process of working with xổ số hôm nay Trump Organization, what factors do you see are most interested in in xổ số hôm nay Vietnamese market? What are xổ số hôm nay keys to convincing partners like xổ số hôm nay Trump Organization to accompany you?
Mr. Dang Thanh Tam: xổ số hôm nay Trump Organization cares comprehensively: from policies, investment environment to long-term growth potential. However, what impresses them xổ số hôm nay most is xổ số hôm nay Vietnamese people, who are still struggling today but will develop rapidly and deserve to enjoy world-class utilities and services like xổ số hôm nay Trump project.
Therefore, they expect this project to become a model of service quality and top-class experience: from golf courses, hotels and resorts with Trump-style, to high-end villas, contributing to creating a push in attracting both domestic and foreign tourists.
xổ số hôm nay project combines xổ số hôm nay modern style of xổ số hôm nay Trump Organization, a major brand of xổ số hôm nay United States, with xổ số hôm nay depth of Vietnamese cultural history, when implemented right near Pho Hien Cultural Historical Site. Thereby, xổ số hôm nay project does not only highlight xổ số hôm nay increasingly good cooperative relationship between Vietnam and xổ số hôm nay United States, in line with xổ số hôm nay stature of xổ số hôm nay comprehensive strategic partnership, but also contribute to xổ số hôm nay new era of development of xổ số hôm nay Vietnamese nation.