Building a Transparent Business and Investment Environment

In the context of increasingly fierce competition for investment between localities, building a transparent, stable, and friendly investment environment has become a key factor in retaining and attracting businesses. The province identifies the drastic improvement of the investment environment as a top priority task, associated with the goal of promoting rapid and sustainable socio-economic development. A proactive spirit, active listening to businesses, and the timely resolution of obstacles have brought about clear transformations.

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Phu Tho Province emphasizes that improving the investment environment must begin with “untying mechanistic knots,” enhancing the accountability of leaders, and strengthening coordination between state management agencies.

This reform spirit was further demonstrated through Business Dialogue Conference in the fourth quarter of 2025 held in late November. Provincial leaders, along with representatives from departments and sectors, engaged in direct dialogue, frankly addressing each corporate petition within their jurisdiction and going straight to the heart of the issues.

With a high sense of responsibility, the leadership of the Provincial People’s Committee—particularly Chairman Tran Duy Dong—promptly directed and assigned clear tasks to each unit to proactively and thoroughly resolve businesses' difficulties. Simultaneously, the province committed to specific processing timelines, demonstrating solidarity and a determination to accompany the business community. The province requested a comprehensive review of all procedures related to investment, construction, and land; the streamlining of unnecessary intermediate steps; the limitation of “multi-door” paperwork; and the acceleration of technical infrastructure investment to facilitate production and business activities.

The Phu Tho provincial government affirms a consistent viewpoint: "The success of investors is the success of the locality.“The province has implemented the”One-stop - Partnership - Punctuality" model and accelerated the digitalization of administrative procedures to reduce time and costs while limiting legal risks for investors. Furthermore, the province coordinates closely with central ministries and sectors to ensure that businesses enjoy full incentive policies regarding taxes, land, and infrastructure.

The set of administrative procedures in the field of investment and finance has been simplified, standardized, and publicized on the Public Service Portal, making it easy for businesses to look up and implement. The province also focuses on enhancing the quality of civil servants, increasing accountability, and strictly handling cases that cause trouble for businesses. It promotes digital transformation in administrative processing, strengthens training, and supplies high-quality human resources for industrial parks, while perfecting technical infrastructure—especially the connecting transport system. Additionally, the province supports businesses in accessing capital and fully implements tax exemption, reduction, and extension policies to create financial room for business development.

In November 2025 alone, the Provincial People’s Committee and its Chairman issued 44 directive documents on administrative procedure reform, focusing on strengthening inspections and urging the progress of dossier processing—particularly in fields with high delinquency rates like land—and increasing the rate of dossier digitalization.

Thanks to these drastic solutions, the processing time for investment, finance, and land procedures has been significantly shortened, and business satisfaction has surged. According to the evaluation of the Index for Serving People and Businesses in administrative procedures and online public services, Phu Tho is one of the localities ranked as “Excellent,” with 5 departments and 140 communes/wards achieving this top-tier rating.

Thanks to this, the province’s economy has achieved many outstanding results. In 2025, the province’s economic growth rate is estimated to reach 10.52%, exceeding the set plan, surpassing the government’s target, ranking first in the Northern Midlands and Mountains region, and among the top 4 provinces with the highest growth rates nationwide. As of November 20, 2025, the province has attracted approximately US$1.51 billion in FDI, equivalent to 203% compared to the same period and 142.6% of the 2025 growth target; domestic direct investment (DDI) is estimated at VND 63.6 trillion, nearly three times higher than the same period, reaching 71% of the 2025 target. The number of newly registered businesses increased significantly, with over 4,300 businesses registered, an increase of 84.5% compared to the same period, exceeding the growth target by 24.3%. Newly registered capital is estimated at VND 39.7 trillion, a 46.3% increase compared to the same period last year, exceeding the growth target, and 925 businesses resumed production and business activities, a 28% increase compared to the same period last year.

With a proactive spirit, a determination to innovate, and a motto of accompanying businesses, Phu Tho is gradually affirming its position as a reliable, safe, and promising investment destination. The province aims not only to attract more high-quality projects but also to build a substantive and sustainable investment and business ecosystem, in which businesses are considered the center and driving force of development. The results achieved in the past period are clear evidence of Phu Tho’s strong aspiration to rise in the process of integration and development.

Van Cuong