A regional connecting road between Hà Nội and Hưng Yên — Photo Tienphong.vn

HÀ NỘI — A mega urban and eco-tourism complex worth US$1.5 billion proposed by a joint venture between Hưng Yên Investment and Development Group and IDG Capital — representing the Trump Organization — has officially received investment approval from the Vietnamese Government.

The project, located in Khoái Châu District of Hưng Yên Province, spans more than 990 hectares across seven communes along the Red River.

According to the investment decision signed by Deputy Prime Minister Trần Hồng Hà, total capital is estimated at VNĐ39.8 trillion (approximately $1.53 billion), including VNĐ4.1 trillion allocated for compensation and resettlement.

The project will operate for 50 years, with construction scheduled to begin in the second quarter of 2025 and be completed by the second quarter of 2029.

The complex will feature four subdivisions: a high-end eco-residential area with a golf course (for 3,500 residents), a second eco-residential zone with a nature-focused golf course (1,800 residents), a commercial urban zone (29,700 residents), and a specialised green park area. A key highlight is a 240-ha golf facility comprising two courses of 36 and 18 holes, respectively. Additionally, the plan includes 7.3 hectares for social housing and 99 hectares for a thematic park.

This project follows a memorandum of understanding signed between Hưng Yên’s provincial government and the Trump Organization in September 2024 during a visit to the United States. In March 2025, Charles James Boyd Bowman, General Director of the Trump Group’s operations in Việt Nam, formally proposed the project to the Prime Minister and expressed hope of completing it by 2027 in time for the APEC Summit. He affirmed the group's ambition to establish one of Việt Nam’s leading golf destinations with global reach.

The Vietnamese Government has encouraged the Trump Group to consider Việt Nam a strategic hub for further investment expansion, not only in tourism real estate but also in other promising sectors. The Prime Minister directed relevant ministries to ensure legal compliance, efficiency, and mutual benefit in the project's development.

Hưng Yên authorities have been tasked with investor selection and land use management in accordance with Vietnam's law. The Ministries of National Defence and Public Security will also provide guidance on matters of national security, including the sale of residential units to foreigners.

The project is expected to capitalise on the potential of the Red River tourism corridor, enhancing regional connectivity between Hưng Yên, Hà Nội and northern provinces. Alongside major developers like Ecopark, Vinhomes, Masterise, and CapitaLand, the Trump Group’s entry is anticipated to generate a new wave of high-profile investment in Hưng Yên — which attracted nearly $4 billion in FDI in 2024, its highest level to date. — VNS