Vietnam's Kinh Bac firm controls new Trump-branded real estate company
A subsidiary of Vietnamese realty developer Kinh Bac City Development Holding Corporation (KBC) has registered indirect control of a new Trump-branded real estate firm in Vietnam, filings with the country's State Securities Commission show.
HYG Investment and Development Group, in which KBC holds a 95-percent stake, provided 99 percent of the capital for the newly-formed Trump International Vietnam Joint Stock Company.
The remaining one percent is split equally between two Vietnamese female shareholders, with no foreign investors involved.
Registered on July 9 in northern Hung Yen Province, Trump International Vietnam is capitalized at VND5.168 trillion (US$198 million) and will operate in the property sector.
As a result, KBC gains effective indirect control of the company, owning 95.32 percent of its shares via its subsidiary.
he registration coincides with KBC's May groundbreaking of a $1.5 billion Trump-branded development project in Hung Yen in May, encompassing residential, ecological tourism, and golf resort elements.
The project is executed in partnership with the Trump Organization, linked to the family of U.S. President Donald Trump.
Charles Boyd Bowman, representative of Trump International Hung Yen, told the KBC annual general meeting that the project is proceeding on schedule to the Trump Organization's standards, and that the U.S. firm will manage the development upon completion.
Vietnamese media recently reported that the Trump Organization earned $5 million from a brand licensing deal related to Kinh Bac's Trump International project.
Bao Anh - Binh Khanh / Tuoi Tre News
(2025/07/15-08:51)
To read a full story, please click here to find out how to subscribe.
Tuoi Tre
- 07/15 18:12 Phu Ninh Lake in Da Nang becomes summer hotspot for scenic views
- 07/15 18:04 Vietnam strives to phase out small non-biodegradable plastic bags, single-use plastics
- 07/15 17:57 Hanoi residents react to plan for banning gasoline motorbikes in downtown by 2026
- 07/15 10:35 Hundreds of rare dogs, 'cat beauties' gather in Da Nang for central Vietnam's first pet contest
- 07/15 10:27 Food delivery apps enter new competition race in Vietnam
- 07/15 10:20 Ho Chi Minh City to have $250mn data center
- 07/15 08:51 Vietnam's Kinh Bac firm controls new Trump-branded real estate company
- 07/15 08:44 A cavern, a corridor through time: Rediscovering Vietnam's secret war chambers
- 07/15 08:30 Ho Chi Minh City to have new blood bank with annual capacity of 1 million units
- 07/15 08:25 Vietnam proposes cash support for families with 2 daughters to address gender imbalance, falling birth rates
- 07/11 17:51 Ho Chi Minh City seeks to impose partial smartphone ban on students, even during breaks
- 07/11 17:44 Vietnam to honor soldiers from 5 nations with new monument in Hanoi
- 07/11 17:35 Vietnam marks 30 years of diplomatic ties with US by showcasing Clinton's normalization declaration
- 07/10 18:47 Vietnamese operators of EV sightseeing service fear shutdown due to 30kph speed limit regulation
- 07/10 18:44 Ho Chi Minh City real estate market still struggles with limited supply
- 07/09 19:01 My Thien pottery: A 200-year-old heritage in central Vietnam
- 07/09 18:54 USD/VND exchange rate likely to hit 26,400 in Q3: UOB
- 07/08 18:32 Vietnam halts use of German Development Bank’s ODA for metro line No. 2 in Ho Chi Minh City
- 07/08 18:26 Malaysian firm proposes $3.4bn metro project in Ho Chi Minh City
