Hưng Yên Group Expands Business Operations
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Hưng Yên Group’s new business operations from 61 to 71.
Hưng Yên Group – HYG, a prominent investment and development company in Hưng Yên, has recently announced an expansion of its business operations. Led by Director Đặng Thành Tâm, who is also the chairman of Kinh Bắc (Hose: KBC), the company has increased its number of business sectors from 60 to 71.
The new business sectors for HYG include preschool, elementary, middle, and high school education, hospital and clinic operations, preventive healthcare, electrical equipment repair, and power transmission and distribution. This diversification showcases the company’s ambitious growth strategy.
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Trump International Vietnam, a joint venture between HYG and Trump Organization
HYG is a subsidiary of KBC and holds a 99% stake in Trump International Vietnam. This means that KBC indirectly owns 95.32% of the joint venture through HYG. The Trump International Vietnam project, a golf course, villa, and resort development in Hưng Yên, broke ground on May 21st, marking a significant milestone.
The Khoai Chau project, a complex of urban, eco-tourism, and golf course development, spans 888.52 hectares and boasts a total investment of 1.5 billion USD. It is a strategic collaboration between Trump Organization (USA) and Kinh Bắc, aiming to introduce Vietnam’s first premium golf course, villa, and resort bearing the Trump brand.
Regarding the role of the Trump Organization, Charles Boyd-Bowman, representative of the project (commercially named Trump International Hưng Yên), stated that the Trump family’s company would be responsible for managing the project after its completion.
Mr. Đặng Thành Tâm, Chairman of KBC, affirmed that the company is currently developing projects worth over 80,000 billion VND. Therefore, investing approximately 40,000 billion VND in the golf complex project is not considered a significant challenge. With IDG Capital’s support in financial arrangements and their participation in the capital, Kinh Bắc is confident in the project’s feasibility.
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