Breakthrough in investment attraction - Highlights from improved business environment

On July 25, at the Left Bank of Da River Industrial Park in Hoa Binh Ward, Phu Tho Province, the inauguration ceremony of Meiko Group’s (Japan) electronic printed circuit board (PCB) manufacturing plant took place. This event not only marks an important milestone in Vietnam–Japan economic cooperation but also serves as compelling evidence of Phu Tho Province’s breakthrough in attracting investment, improving the business environment, and developing high-tech industries.

Meiko Group’s electronic printed circuit board manufacturing plant has created jobs for thousands of local workers.

Mr. Atsushi Satake, Executive Vice President of Meiko Group affirmed that the inauguration of the group’s factory in Phu Tho is a strategic step in expanding Meiko’s global production chain. He also expressed confidence that Phu Tho’s investment environment will provide a favorable foundation for implementing the project’s second phase, with total expected capital of up to 350 million USD.

According to the Phu Tho Provincial Statistical Office, in the first seven months of 2025, the province attracted total foreign direct investment (FDI) of 651.7 million USD, including 35 newly licensed projects (119 million USD) and 45 projects with additional capital (533 million USD). Regarding domestic direct investment (DDI), the figure reached 43.198 trillion VND - an impressive growth rate amid the country’s ongoing economic recovery efforts.

For the entire 2021-2025 term, Phu Tho (including the former provinces of Phu Tho, Hoa Binh and Vinh Phuc) has attracted 232 FDI projects with total registered capital exceeding 3.5 billion USD and 596 DDI projects totaling more than 171.9 trillion VND. On average, each FDI project has a capital scale of 15.2 million USD, higher than the regional average for the Northern midlands and mountainous area. Notably, several large-scale projects were launched in the first half of the year, including the Da Phuc food production and processing project (about 7.5 trillion VND), the Lac Thinh animal feed production project (about 7 trillion VND), the Sao Bay resort tourism complex (about 1.995 trillion VND), and the Phu Hung Thai eco-urban area (over 4.3 trillion VND). These projects are not only substantial in scale but also have strong spillover effects, enhancing production capacity, building local supply chains, and creating tens of thousands of jobs.

The rate of newly established and reactivated businesses has also risen sharply. In the first seven months of 2025, the province recorded 2,701 newly established enterprises with total registered capital exceeding 25.5 trillion VND, along with 964 enterprises resuming operations. This is an indicator that business community confidence in the provincial administration is being strengthened.

With a focus on comprehensive reforms, consistent business support policies, infrastructure development and institutional improvements, Phu Tho is steadily asserting itself as an “emerging destination” for strategic investors.

Manh Hung