Attracting investment “reaches the target” Ahead of Schedule

The year 2025 marks a pivotal acceleration in Phu Tho’s process of restructuring its economic development space following the administrative merger. With a fresh approach, a resolute spirit of reform, and the consensus of the business community, the province achieved its annual investment attraction targets as early as the third quarter. This result reflects the efforts of the entire political system and affirms the growing appeal of Phu Tho’s investment environment.

With green landscapes and modern infrastructure, Ba Thien 2 Industrial Park (Binh Tuyen Commune) is a premier destination for foreign investors.

For years, Phu Tho has been known for competitive costs, an abundant labor force, and a favorable industrial land fund. However, the business community now identifies “Connectivity” as its standout advantage—not just in physical infrastructure, but in the seamless integration of location, transportation, supply chains, and institutions.

Phu Tho occupies a “hinge” position between the Northern Midlands and Mountains and the Red River Delta. This allows businesses to rapidly access Noi Bai International Airport, major seaports in Hai Phong and Quang Ninh, and key border gates. The multimodal connection of road, rail, and waterway reduces lead times, lowers logistics costs, and increases supply chain flexibility.

Following the merger, the system of industrial parks, industrial clusters, and satellite business networks has been perfected. This encourages FDI enterprises to deepen local production and helps domestic firms upgrade their technology and management. Consequently, supply chains for automobiles, motorcycles, and electronics have formed within the province, increasing localization rates and mitigating disruption risks.

From a market perspective, Phu Tho plays a central role among the northern production hubs. By locating factories in the province, businesses can easily distribute goods throughout the northern market and quickly connect with export corridors to China and ASEAN.

Phu Tho has successfully built an image as a transparent and proactive partner. The “Single Window - Accompanying - On Time” mechanism is strictly maintained. In 2025, the province accelerated the restructuring of investment and financial procedures to ensure maximum consistency.

The results of these reforms have led to tangible transformations. As of November 2025, processing times for documents have been reduced by 35%, with over 90% of applications submitted online or via postal services. Notably, 100% of business registration and project appraisal files were resolved on time or ahead of schedule. Feedback from the business community indicates that administrative procedures in Phu Tho are becoming increasingly transparent, user-friendly, and efficient.

Thanks to a comprehensive reform system, investment attraction in 2025 has achieved impressive results. In just the first nine months of 2025, the province attracted $947.44 million in new capital, reaching 118.1% compared to the same period in 2024. It is projected that for the whole year of 2025, Phu Tho will reach $1.059 billion, far exceeding the initial target. The FDI sector also maintained its significant contribution with revenue of $32.611 billion, exports of $39.124 billion, tax contributions of VND 17.8 trillion, and job creation for approximately 260,000 workers.

Reform has not only “opened the door” for capital flows but also laid the groundwork for the province to pursue higher ambitions: the “24-Hour Green Lane” model. This initiative, which aims to process standard-compliant investment applications within a single day, is expected to be implemented in 2026. The province’s ever-improving investment environment has attracted numerous domestic and foreign enterprises to launch projects, contributing significantly to annual budget revenues.

Deputy Director of the Department of Finance Vu Duc Dung said: Based on the foundation already built, Phu Tho has identified three priority areas in attracting investment in the coming period. Firstly, electronics, components, and semiconductors. The province focuses on attracting electronics businesses and post-production stages in semiconductors such as assembly, testing, and packaging of chips (ATP). With its outstanding infrastructure and connectivity, Phu Tho helps businesses shorten lead times, reduce logistics costs, and ensure supply chain stability – crucial factors for the electronics and semiconductor industries. Secondly, electric vehicles, batteries, and precision mechanics are sectors with great potential, aligning with the global green transformation trend. Thirdly, in logistics and data centers, the province prioritizes the development of inland container depots (ICDs), cold storage facilities, cargo transshipment centers, digital logistics, and high-quality electrical and telecommunications infrastructure to attract investment in data centers. This is a vital foundation to support the two aforementioned industrial sectors and enhance the province’s overall competitiveness.

To create a sustainable competitive advantage, Phu Tho applies the “4-Together” action framework: Together in Green Standards (ESG), Together in Digital Transformation, Together in Domestic Supplier Development, and Together in Worker Welfare.

In parallel, the province is deploying seven specific policy groups: infrastructure support; rapid site clearance mechanisms; synchronized investment in transport, electricity, and water; attraction of high-quality human resources; welfare security for experts and laborers; R&D and innovation support; and the establishment of an Investment and Innovation Support Fund to help domestic enterprises integrate deeper into the FDI value chain.

With a sound orientation, clear policies, and consistent determination, Phu Tho aims to become Northern Vietnam’s “High-Tech Logistics Hub”—a place where electronics, semiconductors, EV, and logistics converge and interconnect, driving socio-economic growth and elevating the province’s position on Vietnam’s industrial map.

Van Cuong