Latest news with #KinhbacCity
Canada News.Net
14 hours ago
- Business
- Canada News.Net
Vietnam golf plan backed by Trump sparks farmer compensation row
HUNG YEN, Vietnam: In Hung Yen province near Hanoi, farmers say they are being offered meager compensation, sometimes just a few thousand dollars and bags of rice, to vacate land earmarked for a US$1.5 billion Trump-branded golf resort. The 990-hectare project, set to begin construction next month, will displace thousands and transform fruit farms into a luxury development. Nguyen Thi Huong, 50, was told to leave her 200-square-metre plot for about $3,200 and rice provisions. "The whole village is worried… it will take our land and leave us jobless," she said. Many farmers, particularly the elderly, fear they will struggle to find new livelihoods. The project is the Trump family business's first venture in Vietnam. Local developer Kinhbac City and partners are building the resort after paying the Trump Organization $5 million for brand licensing rights. The Trump family business will operate the club but will not fund the investment or provide farmer compensation. Sources familiar with the plans said projected payouts, once estimated at over $500 million, have been reduced. Compensation rates flagged to farmers range between $12 and $30 per square metre, plus payments for uprooted crops and rice provisions lasting from two to twelve months, according to documents. A local official said farmland in the area typically fetches no more than $14 per square metre. In Vietnam's state-managed land system, farmers hold long-term use rights but have little say when the state reclaims property. Compensation is state-administered but paid by developers, and protests rarely succeed. Four farmers told Reuters they were unhappy with the proposed rates. "We have no right to negotiate. That's a shame," said Do Dinh Huong, who will be paid about $12 per square metre. He said he might have accepted such a low figure for public works like roads, "but this is a business project." Prime Minister Pham Minh Chinh promised fair reimbursement at a May groundbreaking ceremony attended by Eric Trump, executive vice president of the Trump Organization. Nguyen Thi Chuc, 54, who grows bananas on a 200-square-metre plot, was told she might receive around $30 per square metre. "I'm getting old and can't do anything else other than working on the farm," she said. Not everyone opposes the project. Some residents and investors believe it will bring higher incomes. Land prices in the village have already quintupled since the October announcement, according to local eatery owner Le Van Tu. He plans to expand his diner into a restaurant to cater to wealthier visitors and welcomed the removal of a nearby pig farm, saying, "It won't be stinky anymore." The final compensation amounts are expected to be approved next month. Until then, farmers like Huong remain anxious: "What can someone like me do after that?"
NDTV
a day ago
- Business
- NDTV
Fistful Of Dollars, Rice For Vietnam Farmers Displaced For Trump Golf Club
Hung Yen: Vietnamese farmer Nguyen Thi Huong has slept poorly since authorities told her to vacate her farm for a Trump family-backed golf resort, offering just $3,200 and rice provisions in return. The golf resort, for which construction is scheduled to begin next month, is offering thousands of villagers such compensation packages to leave the land that has provided their livelihood for years or decades, according to six people with direct knowledge and documents seen by Reuters. The project is the first partnership for the family business of US President Donald Trump in Vietnam, which fast-tracked approvals as it negotiated a crucial trade deal with Washington. Developers are now cutting compensation forecasts from an initial estimate exceeding $500 million, said one person familiar with the plans who declined to elaborate on reasons for the reduction. The 990-hectare site designated for the golf course currently supports fruit farms growing bananas, longan, and other crops. While some see opportunity, many farmers are elderly and fear they will struggle to find alternative livelihoods in Vietnam's vibrant economy with its largely young demographic. "The whole village is worried about this project because it will take our land and leave us jobless," said 50-year-old Huong, who was told to leave her 200-square-metre (2152.78 square-feet) plot in Hung Yen province near capital Hanoi for less than the average pay for one year in Vietnam. Vietnamese real estate company Kinhbac City and its partners will develop the luxury golf club after paying the Trump Organization $5 million for brand licensing rights, according to regulatory filings and a source familiar with the deal. Trump's family business will run the club once completed, but is not involved in the investment and in compensation to farmers. Trump has said his assets in the businesses are held in a trust managed by his children, but disclosures in June showed income from those sources ultimately accrues to the president. Vietnam's agriculture ministry, Hung Yen authorities, the Trump Organization and Kinhbac City did not reply to questions on compensation rates. Authorities will determine final compensation rates based on land size and location, with formal approval expected next month. Five farmers facing dispossessions said authorities flagged reimbursements worth between $12 and $30 per square metre of farmland. They also offered additional payments for uprooted plants and provisions of rice for some months, roughly in line with one document seen by Reuters. The person familiar with the compensation plan said the range was accurate, declining to be named because the information was not public. A local official declined to talk about the compensation but said rates for farmland in the area have usually not exceeded $14 per square metre. They are often higher in other provinces. In Communist-run Vietnam, farmland is managed by the state. Farmers are assigned small plots for long-term use but have little say when authorities decide to take the land back. Protests are common but usually fruitless. Compensation is paid by the state but developers foot the bill. Four of the farmers contacted by Reuters were not happy with the proposed rates because their small plots would produce low payments. Thousands of villagers will be affected, according to a second document from local authorities seen by Reuters, which stated final payment decisions were expected next month. Huong leases a larger plot from other villagers, but can claim land compensation only for the small one assigned to her and for the plants she grows. "What can someone like me do after that?" Rice For Land Vietnam's Prime Minister Pham Minh Chinh said farmers would be reimbursed fairly when he spoke in May at the groundbreaking ceremony for the golf project to an audience that included Trump's son Eric, a senior vice president of the Trump Organization. "We have no right to negotiate. That's a shame," said Do Dinh Huong, another farmer who was told his plot would be compensated at roughly $12 per square metre. He said he would have accepted what he believed was a low rate if the land were to be used to build roads or other public infrastructure. "But this is a business project. I don't know how that would contribute to people's life." Authorities have also offered rice as compensation, with provisions varying from two to twelve months, according to one of the documents seen by Reuters. Nguyen Thi Chuc, a 54-year-old farmer who grows bananas in what will become the Trump golf club, was told by authorities she might receive roughly $30 per square metre for her 200-square-metre plot. "I'm getting old and can't do anything else other than working on the farm," she said. Conversely, lawyers and investors in the province said the golf club would create better jobs and enrich villagers. Le Van Tu, a 65-year-old local who will be compensated for his small plot and owns an eatery in a village that the golf club will abut, said he will upgrade his diner into a restaurant to cater to wealthier clients. Land prices in the village have risen fivefold since the project was announced in October, he said. He was also happy a nearby pig farm will be gone: "It won't be stinky anymore."
Dubai Eye
a day ago
- Business
- Dubai Eye
Fistful of dollars for Vietnamese farmers displaced for Trump golf club
News Home More from International Reuters Vietnamese farmers face threat of being displaced and jobless as US President Donald Trump's family-backed golf resort is scheduled for construction next month in Hung Yen province. Thousands of villagers are being offered compensation packages worth $3,200 and rice provisions to vacate the land, their home and only source of livelihood, according to six people with direct knowledge and documents seen by Reuters. The project is the first partnership for the family business of Trump in Vietnam, which fast-tracked approvals as it negotiated a crucial trade deal with Washington. Developers have cut compensation forecasts from an initial estimate exceeding $500 million, said one person familiar with the plans, not disclosing reasons for the reduction. The 990-hectare site designated for the golf course currently supports fruit farms growing bananas, longan and other crops. While some see opportunity, many farmers are elderly and fear they won't find an alternative means of survival. Vietnamese real estate company Kinhbac City and its partners will develop the luxury golf club after paying the Trump Organisation $5 million for brand licensing rights, according to regulatory filings and a source familiar with the deal. Vietnam's argiculture ministry, Hung Yen authorities, the Trump Organisation and Kinhbac City did not reply to questions on compensation rates. Vietnam's Prime Minister Pham Minh Chinh said farmers would be reimbursed fairly when he spoke in May at the groundbreaking ceremony for the golf project. Conversely, lawyers and investors in the province said the golf club would create better jobs and enrich villagers. Israel strike kills Al Jazeera journalists in Gaza A prominent Al Jazeera journalist, who had previously been threatened by Israel, was killed along with four colleagues in an Israeli airstrike on Sunday, in an attack condemned by journalists and rights groups. Israel strike kills Al Jazeera journalists in Gaza Australia to recognise Palestinian state at UN in September Australia will recognise a Palestinian state at next month's United Nations General Assembly, Prime Minister Anthony Albanese said on Monday, a move that adds to international pressure on Israel after similar announcements from France, Britain and Canada. Australia to recognise Palestinian state at UN in September India's top court orders Delhi authorities to move stray dogs to shelters India's top court ordered authorities in the capital Delhi and its suburbs on Monday to relocate all stray dogs to shelters within eight weeks, according to the Live Law website, after media reports of a rise in cases of rabies, especially among children. India's top court orders Delhi authorities to move stray dogs to shelters Arab League condemns Israeli plan to impose control over Gaza The Council of the Arab League has condemned the Israeli government's plans to impose military control over the Gaza Strip and displace its population, stating it constitutes a violation of international law and a threat to Arab and regional security. Arab League condemns Israeli plan to impose control over Gaza Firefighters battle 'fire whirls' in northern Spain Extreme heat and strong winds caused "fire whirls" as a blaze burned several houses and forced the evacuation of hundreds of people from near a UNESCO-listed national park in northern Spain, authorities said on Monday.
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Business Standard
2 days ago
- Business
- Business Standard
$3,200 and rice for Vietnam farmers displaced for $1.5 bn Trump golf club
Vietnamese farmer Nguyen Thi Huong has slept poorly since authorities told her to vacate her farm for a Trump family-backed golf resort, offering just $3,200 and rice provisions in return. The golf resort, for which construction is scheduled to begin next month, is offering thousands of villagers such compensation packages to leave the land that has provided their livelihood for years or decades, according to six people with direct knowledge and documents seen by Reuters. The project is the first partnership for the family business of U.S. President Donald Trump in Vietnam, which fast-tracked approvals as it negotiated a crucial trade deal with Washington. Developers are now cutting compensation forecasts from an initial estimate exceeding $500 million, said one person familiar with the plans who declined to elaborate on reasons for the reduction. The 990-hectare site designated for the golf course currently supports fruit farms growing bananas, longan, and other crops. While some see opportunity, many farmers are elderly and fear they will struggle to find alternative livelihoods in Vietnam's vibrant economy with its largely young demographic. "The whole village is worried about this project because it will take our land and leave us jobless," said 50-year-old Huong, who was told to leave her 200-square-metre (2152.78 square-feet) plot in Hung Yen province near capital Hanoi for less than the average pay for one year in Vietnam. Vietnamese real estate company Kinhbac City and its partners will develop the luxury golf club after paying the Trump Organization $5 million for brand licensing rights, according to regulatory filings and a source familiar with the deal. Trump's family business will run the club once completed, but is not involved in the investment and in compensation to farmers. Trump has said his assets in the businesses are held in a trust managed by his children, but disclosures in June showed income from those sources ultimately accrues to the president. Vietnam's agriculture ministry, Hung Yen authorities, the Trump Organization and Kinhbac City did not reply to questions on compensation rates. Authorities will determine final compensation rates based on land size and location, with formal approval expected next month. Five farmers facing dispossessions said authorities flagged reimbursements worth between $12 and $30 per square metre of farmland. They also offered additional payments for uprooted plants and provisions of rice for some months, roughly in line with one document seen by Reuters. The person familiar with the compensation plan said the range was accurate, declining to be named because the information was not public. A local official declined to talk about the compensation but said rates for farmland in the area have usually not exceeded $14 per square metre. They are often higher in other provinces. In Communist-run Vietnam, farmland is managed by the state. Farmers are assigned small plots for long-term use but have little say when authorities decide to take the land back. Protests are common but usually fruitless. Compensation is paid by the state but developers foot the bill. Four of the farmers contacted by Reuters were not happy with the proposed rates because their small plots would produce low payments. Thousands of villagers will be affected, according to a second document from local authorities seen by Reuters, which stated final payment decisions were expected next month. Huong leases a larger plot from other villagers, but can claim land compensation only for the small one assigned to her and for the plants she grows. "What can someone like me do after that?" RICE FOR LAND Vietnam's Prime Minister Pham Minh Chinh said farmers would be reimbursed fairly when he spoke in May at the groundbreaking ceremony for the golf project to an audience that included Trump's son Eric, a senior vice president of the Trump Organization. "We have no right to negotiate. That's a shame," said Do Dinh Huong, another farmer who was told his plot would be compensated at roughly $12 per square metre. He said he would have accepted what he believed was a low rate if the land were to be used to build roads or other public infrastructure. "But this is a business project. I don't know how that would contribute to people's life." Authorities have also offered rice as compensation, with provisions varying from two to twelve months, according to one of the documents seen by Reuters. Nguyen Thi Chuc, a 54-year-old farmer who grows bananas in what will become the Trump golf club, was told by authorities she might receive roughly $30 per square metre for her 200-square-metre plot. "I'm getting old and can't do anything else other than working on the farm," she said. Conversely, lawyers and investors in the province said the golf club would create better jobs and enrich villagers. Le Van Tu, a 65-year-old local who will be compensated for his small plot and owns an eatery in a village that the golf club will abut, said he will upgrade his diner into a restaurant to cater to wealthier clients. Land prices in the village have risen fivefold since the project was announced in October, he said. He was also happy a nearby pig farm will be gone: "It won't be stinky anymore."
ARN News Center
2 days ago
- Business
- ARN News Center
Fistful of dollars for Vietnamese farmers displaced for Trump golf club
Vietnamese farmers face threat of being displaced and jobless as US President Donald Trump's family-backed golf resort is scheduled for construction next month in Hung Yen province. Thousands of villagers are being offered compensation packages worth $3,200 and rice provisions to vacate the land, their home and only source of livelihood, according to six people with direct knowledge and documents seen by Reuters. The project is the first partnership for the family business of Trump in Vietnam, which fast-tracked approvals as it negotiated a crucial trade deal with Washington. Developers have cut compensation forecasts from an initial estimate exceeding $500 million, said one person familiar with the plans, not disclosing reasons for the reduction. The 990-hectare site designated for the golf course currently supports fruit farms growing bananas, longan and other crops. While some see opportunity, many farmers are elderly and fear they won't find an alternative means of survival. Vietnamese real estate company Kinhbac City and its partners will develop the luxury golf club after paying the Trump Organisation $5 million for brand licensing rights, according to regulatory filings and a source familiar with the deal. Vietnam's argiculture ministry, Hung Yen authorities, the Trump Organisation and Kinhbac City did not reply to questions on compensation rates. Vietnam's Prime Minister Pham Minh Chinh said farmers would be reimbursed fairly when he spoke in May at the groundbreaking ceremony for the golf project. Conversely, lawyers and investors in the province said the golf club would create better jobs and enrich villagers.
