“The $1.5 Billion Trump Organization Deal: Dang Thanh Tam’s Invitation to Global ‘Heavyweights'”

On September 25, the Trump Organization and Hung Yen Hotel Services JSC announced their partnership to develop a $1.5 billion project in Vietnam. The project will include a 5-star hotel, an international-standard golf course, upscale residential areas, and world-class amenities.

Hung Yen Hotel Services JSC is a subsidiary of Kinh Bac City Development Holding Corporation (KBC), a leading urban development company in Vietnam. Mr. Dang Thanh Tam, the current Chairman of Kinh Bac City Development, has a proven track record of attracting foreign investment to the country.

Prior to this historic partnership with the Trump Organization, Mr. Tam has successfully attracted several other global giants to invest in Vietnam, particularly in the industrial parks of Kinh Bac City Development.

One of Mr. Tam’s most notable achievements was attracting Foxconn, the world leader in electronic manufacturing services, to Vietnam. Foxconn’s investment in Vietnam began in 2007, and by the end of 2023, the company had invested $1.5 billion, creating jobs for 53,000 people and establishing seven modern factories in various industrial parks across the country.

Another significant deal facilitated by Mr. Tam was bringing LG Electronics to Hai Phong, Vietnam. LG Electronics, a leading consumer electronics company, invested in a $7.24 billion electronics manufacturing complex in the Tràng Duệ Industrial Park, creating high-tech jobs and contributing significantly to the city’s FDI.

Mr. Tam’s ability to attract foreign investment extends beyond LG and Foxconn. He has also successfully attracted other global companies such as Goertek, Canon, and Ingrasys to Vietnam. Additionally, he has established connections with top executives from prominent corporations like TMSC, Acer Inc., and Dragoman Pty. Ltd.

One of Mr. Tam’s key advantages in attracting FDI to Vietnam is his association with Kinh Bac City Development, which owns approximately 6,611 hectares of land in industrial parks across the country. The company also possesses a substantial land bank for urban development and factory construction, totaling 1,413.3 hectares and 117.7 hectares, respectively.

Mr. Tam’s extensive network and participation in international economic integration have been instrumental in his success. In an interview, he shared his secret to attracting foreign investors: “We ask investors where they would like to go. Then, we take them to the provinces to discuss and evaluate. The first thing investors care about is whether the provincial leaders are trustworthy and genuinely want them there.”

Mr. Tam understands that the support of local leaders is crucial for investors, especially when challenges arise during the production process, which may not be covered by existing laws and regulations. He emphasizes that when leaders make promises to investors, they must keep their word.

With his proven track record, Mr. Dang Thanh Tam continues to play a pivotal role in attracting foreign investment to Vietnam, contributing to the country’s economic growth and development.