Accompanying the Province’s Development

In recent years, the business community and entrepreneurs in the province have experienced rapid growth in both quantity and quality. They have demonstrated dynamism, innovation, and flexibility in investment, production, and business expansion—making significant contributions to the province’s socio-economic development.

During the 2020–2025 period, Phu Tho’s average annual economic growth rate reached 7.5%, higher than both the 2016–2020 average (7%) and the national average (6.3%). The provincial economy was valued at over 354 trillion VND in 2024, and is projected to reach 390 trillion VND in 2025, ranking 6th out of 34 provinces and cities, 1.56 times higher than in 2020. The GRDP per capita in 2025 is expected to reach 105.2 million VND, up 1.48 times compared to 2020. The economic structure continues to shift positively, with the industrial and service sectors expected to account for 86.8%, and agriculture, forestry, and fisheries making up 13.2% by the end of 2025.

Since its establishment, Toyota Motor Vietnam has contributed more than USD 14.4 billion to the state budget.

With a favorable and transparent business environment, the province has attracted nearly 600 domestic investment projects with total registered capital exceeding 171 trillion VND, and 230 FDI projects with total registered capital of over USD 3.5 billion in the past five years (2020–2025). During the same period, 12,800 new enterprises were established, bringing the total number of operating businesses in the province to nearly 41,000.

Following the merger, Phu Tho now enjoys greater economic space and development potential. The province aims that by 2030, it will become one of the key growth poles of the Capital Region—a center for industry, commerce, logistics, tourism, healthcare, high-quality education, and major cultural festivals rooted in national heritage. It also strives to become a hub for national and international events, achieving an average annual GRDP growth rate of 11–12% (2026–2030), with per capita GRDP reaching 220–230 million VND. The contribution of Total Factor Productivity (TFP) to growth is expected to reach 55–60%, while the digital economy will account for over 30% of GRDP. The province also targets to eliminate multidimensional poverty, achieve 35–40% urbanization, and develop synchronous, modern infrastructure.

To realize these goals, Phu Tho is focusing on developing all economic sectors and ensuring equal opportunities for all types of enterprises to attract diverse investment resources. The province is committed to creating a transparent, stable, and favorable investment environment; investing strongly in transport, logistics, and renewable energy infrastructure to support production; and collaborating with enterprises in training high-quality human resources to meet the demands of advanced technology.

In particular, Phu Tho continues to promote administrative reform policies aimed at reducing processing time and costs for businesses; ensuring public disclosure of land-use plans and providing support for site clearance; promptly addressing difficulties and recommendations from citizens, businesses, and households; and enhancing remote and online inspection activities to increase efficiency and transparency.

Tran Tinh