During talks with Hung Yen officials on Tuesday, executives of the Hong Kong firm said it plans to develop a 200-300 hectare multi-purpose complex featuring a film studio, performance venue, stage, theme park, and hotel-restaurant facilities.

Construction is expected to take around five years, subject to regulatory approvals, according to the province's news portal.

Nguyen Huu Nghia, Hung Yen’s Party chief, said Hung Yen welcomes the proposal and would support the investor during their survey and approval seeking processes, in line with the law.

Lotus Invest added that Southeast Asia would be a key focus of its investment strategy in the coming years, with Vietnam identified as a priority market. The firm decided to conduct initial site surveys in Tien Tien and Dien Ha communes to assess feasibility.

Hung Yen, home to the $1.5 billion Trump-branded golf and resort complex project, has recently emerged as a venue for large-scale entertainment events, hosting concerts featuring domestic and international artists, including K-pop star G-Dragon with the 2025 World tour [Übermensch] concert.

A year-end music festival named Y-Concert drew an estimated 90,000 attendees last December, underscoring growing demand for large-format live entertainment outside major cities such as Hanoi and Ho Chi Minh City.

The Ministry of Public Security last October started work on a 60,000-seat domed stadium in the province, set to become the country’s most technologically advanced sports venue.

CGV Vietnam, under South Korean conglomerate CJ Group’s cinema arm CJ CGV, last August opened a new theater in Hung Yen. The new venue, CGV Vincom Mega Mall Ocean City, spans 1,501 square meters within the Vinhomes Ocean Park 2 development. It features four screening rooms with a total of 420 seats.

The current Hung Yen, about 55 km from the center of Hanoi, was formed following the merger with Thai Binh province in July last year.