A Breakthrough in Investment Attraction – A Highlight from Business Environment Reforms

On July 25, at the Da River Left Bank Industrial Park in Hoa Binh Ward, Phu Tho Province, the grand opening ceremony of the Printed Circuit Board (PCB) Manufacturing Plant by Meiko Group (Japan) took place. This event not only marks a significant milestone in Vietnam–Japan economic cooperation but also serves as compelling evidence of Phu Tho’s breakthrough in attracting investment, improving the business climate, and developing high-tech industries.

A New Symbol of Strategic Capital Flows

The Meiko Hoa Binh Factory, with a Phase 1 investment of USD 200 million over 9.2 hectares, is the fifth Meiko plant in Vietnam. It specializes in manufacturing electronic microchips for peripheral devices, computers, household appliances, audiovisual equipment, solar batteries, processors, and industrial control units—products that are integral to the global value chain of the high-tech electronics industry. Mr. Atsushi Satake, Executive Vice President of Meiko Group, emphasized that the inauguration of the factory in Phu Tho is a strategic move in the group’s global production expansion. He also expressed strong confidence in Phu Tho’s investment environment, considering it a solid foundation for the project’s second phase, expected to reach a total investment of USD 350 million.

This project is seen as an effective, professional, and investor-friendly “one-stop” model. At the site, authorities directly listen to and respond to investor feedback, helping to build strong trust between the government and businesses. In addition, administrative procedures have been streamlined, and processing times shortened through the implementation of e-government platforms and online public services—enhancing transparency and reducing costs for investors.

Strong Momentum from Investment Environment Reforms

According to the provincial Department of Statistics, in the first seven months of the year, Phu Tho attracted a total of USD 651.7 million in FDI, including 35 newly licensed projects (USD 119 million) and 45 projects with capital increases (USD 533 million). In terms of domestic investment (DDI), the figure reached VND 43.198 trillion—an impressive growth amid the nation’s ongoing economic recovery.

The launch of Meiko Group’s PCB manufacturing plant has created thousands of local jobs.

For the entire 2021–2025 term, Phu Tho (formerly including the provinces of Phu Tho, Hoa Binh, and Vinh Phuc) has attracted 232 FDI projects with a total capital of over USD 3.5 billion, and 596 DDI projects with more than VND 171.9 trillion in total capital. On average, each FDI project reached USD 15.2 million—higher than the regional average for the Northern Midland and Mountainous Area. Notably, several large-scale projects have been launched in the first half of the year, such as: the Da Phuc food production and processing project (approx. VND 7.5 trillion), the Lac Thinh animal feed plant (approx. VND 7 trillion), the Sao Bay resort project (approx. VND 1.995 trillion), and the Phu Hung Thai ecological urban area (over VND 4.3 trillion). These projects are not only sizable but also highly influential, enhancing production capacity, establishing local supply chains, and creating tens of thousands of jobs.

These achievements are the result of coordinated efforts from the entire political system of the province. Phu Tho has identified investment attraction as a central, long-term mission. Building investor confidence and fostering an open, transparent investment environment have become key conditions for attracting strategic partners.

In parallel, the province has focused on reviewing and resolving legal bottlenecks, clearing land, determining land lease prices—especially for public investment and industrial zone infrastructure projects. At the same time, targeted investment

promotion has been ramped up, particularly towards strategic partner countries such as Japan, South Korea, Singapore, Germany, and France.

CRS Solar Cell, a company specializing in solar panels at Luong Son Industrial Park, has created stable jobs for hundreds of local workers.

Beyond the numbers, Phu Tho’s investment climate has made a lasting impression on the business community. Key performance indicators such as the Provincial Competitiveness Index (PCI), Public Administration Reform Index (PARINDEX), Satisfaction Index of Public Administration Services (SIPAS), and the Public Administration Performance Index (PAPI) have all been assigned specific improvement targets for each department, sector, and locality.

The number of newly established and reactivated businesses has also risen sharply. In the first seven months of 2025, the province saw 2,701 new enterprises established with registered capital exceeding VND 25.5 trillion, and 964 businesses resuming operations. These are clear signals of growing trust from the business community in the provincial government.

With a strategy centered on synchronized reforms, consistent business support policies, infrastructure development, and institutional improvements, Phu Tho is steadily positioning itself as a “fertile ground” for strategic investors in Vietnam.

Manh Hung