Birds perch in good land

By the end of 2023, Phu Tho has approved investment policies for 1,170 DDI projects, 192 FDI projects with a total registered capital of 176,678.7 billion VND and 3,093.6 million USD; There have been 859 projects completed and put into operation, of which 687 DDI projects have the implementation capital of 44,530 billion VND and 172 FDI projects have the invested capital of 2,285 million USD.

In 2023, the province has granted policies for 50 DDI projects with a total capital of 6,906 billion VND (equal to 137% over the same period); 6 FDI projects with the total capital of 51 million USD. The whole province has 1,024 newly established enterprises with a registered capital of 13,194 billion VND, bringing the total number of businesses in the local area to 11,604 registered businesses with a total registered capital of 107,978 billion VND.

Industrial production has recovered strongly, the high-tech industry sector has developed actively, creating an important growth driver for the province’s economy. The index of industrial production (IIP) increased by 17.3% over the same period, ranking 3rd out of 63 provinces and cities and 2nd out of 14 provinces in the Northern Midlands and Mountains. Administrative reform is emphasized, facilitating quick settlement of investment, land, land use change procedures...

This result was achieved thanks to the drastic intervention with a series of synchronous and effective solutions of the entire political system from central to local levels. The government has had supportive policies such as tax incentives, interest rate discounts and other measures to promote the industrial growth. Phu Tho province has actively implemented administrative reform associated with the responsibilities of the leaders; Improve the effectiveness and efficiency of administrative rules and disciplines, with a focus on reviewing and promulgating clear and transparent investment processes and procedures; Minimize procedures and time, improve the efficiency of investment promotion and investment attraction activities.

Many large projects have added new capacity, completed basic construction investment, officially put into operation, started generating revenue, creating strong growth for the province’s industrial production such as: Namuga Phu Tho electronic components manufacturing factory; JNTC Vina electronic components manufacturing factory; Yida Vietnam export garment factory; Thygesen Vietnam textile factory; Almus Vina phone components factory; Factory manufacturing and processing memory modules for servers and personal computers of Hanyang DGT PTE. LTD;...

These projects are from many strategic investors from many countries such as Japan, Korea, Australia and Hong Kong and Taiwan (China)... The province has stepped up promotion and implementation activities, worked with large corporations such as: Sojitz, BYD, Wingtech, Foxconn, Blackstone minerals Australia... and selected investors for high-tech and large added value industries, such as: Hanyang Company Digitech Vina; Namuga Technology Company Limited, Innochip Vina Company Limited, JNTC Vina Company Limited...

Currently, there is a new wave of investment coming into Vietnam, where investors pay much attention to premises, human resources, infrastructure, supporting industries, and local support policies. Converging all these favorable factors, Phu Tho has identified a list of suitable projects, industries, fields and areas to attract investment associated with sustainable economic development, harmoniously solving social issues, ensuring ecological environment, security and national defense. With favorable conditions, open policies, and open investment environment, once the province has successfully attracted large projects, many other investors will come to Phu Tho, creating a “wave” of investment in the province.

Thuy Hang