Vietnamese entrepreneur Dang Thanh Tam, whose fortune was boosted by Trump’s first-term trade policies, has partnered with the Trump Organization on a $1.5 billion luxury resort project in Vietnam. The Trump International Hung Yen development will feature a 5-star hotel, luxury villas, and two championship golf courses on 2,500 acres near Hanoi.
In May, Eric Trump traveled to Vietnam to unveil one of the Trump Organization’s most ambitious international projects: the $1.5 billion Trump International Hung Yen. The sprawling development, set on nearly 2,500 acres south of Hanoi, will feature a 5-star hotel, luxury villas, and two golf courses designed by two-time U.S. Open champion Bryson DeChambeau.
The project represents a remarkable partnership between the Trump family and Vietnamese real estate mogul Dang Thanh Tam, whose $400 million fortune was significantly boosted by Trump’s first-term trade policies. The deal, signed in New York last September, has already generated $5 million in licensing fees for the Trump Organization.
“This project is more than a development. It’s a commitment to excellence, a celebration of culture and a lasting investment in Vietnam’s future,” Eric Trump said at the groundbreaking ceremony.
Dang, 61, built his wealth through his 34% stake in Kinh Bac City Development, an industrial park developer, and his 29% stake in telecoms infrastructure company Saigontel. His business empire nearly collapsed in 2011 when rising interest rates pushed his company’s debt to $360 million, but Trump’s 2017 trade war with China proved to be his salvation.
The trade conflict triggered a massive shift of manufacturing from China to Vietnam, with Vietnamese exports to the U.S. jumping 119% between 2017 and 2021. Kinh Bac, which hosts major tenants including Canon, LG, and Apple supplier Foxconn, saw its revenues and net income surge by 161% and 54% respectively during this period.
“The tariffs introduced under the Trump administration created short-term uncertainty but also accelerated global supply chain shifts,” Dang explained. “For Vietnam, this was a structural opportunity.”
Kinh Bac currently manages nearly 20,000 acres of industrial and residential land across Vietnam, with over 90% of its customers being companies from China, Hong Kong, Japan, South Korea, and Taiwan that export products to the United States. Vietnam now produces a majority of Apple’s MacBooks, iPads, and watches sold in the U.S., according to CEO Tim Cook.
The partnership came at a crucial time for Dang. Trump’s “Liberation Day” tariffs in April 2025 initially imposed a 46% duty on Vietnamese imports, causing Kinh Bac shares to plummet 27%. However, a subsequent trade deal in July reduced the tariff to 20%, providing relief for the company.
“We first engaged with Eric Trump through our international network,” Dang said. “The Trump Organization conducted strict background checks on me to ensure I was clean—no laundering, no blacklists. That diligence impressed me.”
Born in 1964 in Haiphong during the Vietnam War, Dang studied marine engineering, law, and business before founding Kinh Bac City in 2002. His breakthrough came in 2006 when he met Foxconn founder Terry Gou at the APEC summit in Hanoi, securing the electronics giant as a key tenant.
The Trump International Hung Yen project represents Dang’s expansion into luxury hospitality, leveraging his relationship with the Trump family. As global supply chains continue to shift away from China, Dang positions his company as an “ecosystem builder” for Vietnam’s next chapter in advanced manufacturing and semiconductors.
With Vietnam serving as a cornerstone of the “China plus one” strategy adopted by international manufacturers, Dang remains optimistic about future collaborations with the Trump Organization, stating: “Trump International Hung Yen is just the beginning.”
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