Mr. Eric Trump, Vice President of Trump Organization, speaks at the groundbreaking ceremony of the billion-dollar project in Hung Yen - Photo: KBC
Kinh Bac Urban Development Corporation - JSC (KBC) has just sent a report to the Securities Commission about a subsidiary contributing capital to establish Trump International Vietnam JSC.
Specifically, Hung Yen Investment and Development Group Joint Stock Company (HYG) - a subsidiary of KBC that owns 95%, contributed 99% of the charter capital to establish Trump International Vietnam Joint Stock Company.
This resulted in Trump International Vietnam being identified as a company controlled by KBC with an indirect ownership ratio of 95.32%.
According to data from the Business Registration Office of Hung Yen province, Trump International Vietnam was established on July 9, 2025, headquartered in Son Nam ward - Hung Yen, with the main business line of real estate business.
The charter capital of Trump International Vietnam is 5,168 billion VND.
Notably, in the list of founding shareholders, in addition to Hung Yen Investment and Development Corporation holding 99% of the capital of Trump International Vietnam, there are two other female investors.
Of which, Ms. Pham Thi Xuan (My Duc, Hanoi ) holds 0.5%, and Ms. Nguyen Thi Thoa (Phu Xuyen, Hanoi ) holds the remaining 0.5%. There is no information about foreign investors of Trump International Vietnam.
On May 21, Hung Yen Investment and Development Group Joint Stock Company started construction of the Khoai Chau urban, eco-tourism and golf course complex (Trump International Hung Yen project) with a total investment of 1.5 billion USD, in cooperation with The Trump Organization - a corporation related to the family of US President Donald Trump.
According to the minutes of this year's annual general meeting of shareholders, KBC representatives reported on the implementation status of the Trump International Hung Yen project.
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 started construction in May 2025, following Trump Group standards, with the expectation of boosting tourism and promoting 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 reported that Trump Group recorded a revenue of 5 million USD from a franchise contract with a member of Kinh Bac.
Source: https://tuoitre.vn/cong-ty-cua-ong-dang-thanh-tam-nam-quyen-kiem-soat-trump-international-viet-nam-20250712115149596.htm
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