Trump Organization shows interest in int’l financial center in Da Nang

The Trump Organization has expressed interest in investing in an international financial center in Da Nang, which aims to begin operations by 2030 as part of the central Vietnamese city’s plan to become a regional financial hub, according to a report by the municipal People’s Committee.

The city reported to Permanent Deputy Prime Minister Nguyen Hoa Binh’s working delegation that it has actively organized conferences, seminars, and overseas business trips to engage with investors, financial institutions, and investment funds to explore opportunities in infrastructure investment and the development of the international financial center in Da Nang.

So far, the city has garnered significant interest and concrete commitments from more than ten investors.

Among them, three investor consortiums - Makara Capital, Terne Holding, and the Trump Organization - have expressed interest in becoming strategic partners in developing the international financial center in Da Nang, focusing on innovation, green finance, fintech, and trade finance.

The city is also planning controlled pilot programs for new financial models such as digital assets and cryptocurrencies, aiming to leverage Da Nang’s strategic location in the Indo-Pacific economic corridor and its favorable environment, digital infrastructure, and tourism services.

The Da Nang People’s Committee stated that the city is prioritizing the development of supportive infrastructure to establish the international financial center ecosystem.

As part of this effort, Da Nang is accelerating several key science, technology, and innovation projects slated for implementation in 2025.

One of the flagship initiatives is the artificial intelligence lab project, which has received approval for phase one and is set to include three specialized AI labs.

Another major development is the Da Nang innovation space project, which is currently in the process of finalizing documentation for investment approval.

Da Nang is also advancing its second software park, which has already begun operations.

The park features an eight-story building currently housing startups and technology companies, with a 33-percent occupancy rate.

Site surveys and necessary pre-construction procedures for the Viettel Da Nang building project have been completed and the project will be commenced in the near future.

The Hoa Xuan innovation space project has received approval for adjustments to its investment policy.

Additionally, the city is studying an expansion of the centralized IT zone at Da Nang Software Park and upgrading its digital infrastructure.

It is also encouraging businesses to invest in and develop the city’s digital ecosystem.

The Trump Organization, founded in 1927 and headquartered in New York, is owned by the family of U.S. President Donald Trump.

It got approval for a US$1.5 billion urban, eco-tourism, and golf complex in the northern province of Hung Yen.

The Trump Organization had expressed interest in investing in this project with Hung Yen authorities since September 2024, prior to Donald Trump's victory in the U.S. presidential election late last year.

The complex will include two eco-residential areas featuring ecological golf courses accommodating a combined population of 5,300.

It will have a commercial urban services area for 29,700 people, green spaces, theme parks, and a social housing area.

The project is expected to begin in the second quarter of 2025 and be completed by the second quarter of 2029, with an operational period of 50 years.

The organization also visited Ho Chi Minh City and met with municipal leaders for investment discussions last month.

Thanh Ha - Doan Cuong / Tuoi Tre News

(2025/06/23-17:20)