Continuing the growth momentum

Implementing the socio-economic development tasks in 2024, in conditions with many advantages and difficulties and challenges intertwined, the Provincial Party Committee, People’s Council, and Provincial People’s Committee have focused on leadership, direction, management, close operation, and drastic implementation of the proposed socio-economic development tasks urgently and effectively.

With the spirit of solidarity, dynamism, creativity, and consensus to overcome the difficulties of party committees, authorities, business communities, and people, the province’s socio-economic development continues to take new steps with many bright colors. The economic growth rate (GRDP) reached 8.16%, ranking 4th out of 14 provinces in the Northern Midlands and Mountains region and 13th out of 63 provinces and cities nationwide.

Production of export packaging at Hyosung Company, Tan Phu Industrial Cluster, Tan Son District.

Many key infrastructure projects and investment projects have been completed.

Concretizing the resolutions and directives of the Central Party Committee, the National Assembly, and the Government on implementing the socio-economic development plan and the state budget estimate for 2024; Resolution No. 61-NQ/TU, dated October 13, 2021 of the Provincial Party Committee on strongly improving the investment and business environment... In the first six months of 2024, the Provincial People’s Committee approved 32/60 projects and contents of the 2024 work program, issued 120 plans, and selected 60 key tasks to focus on leadership and direction.

Many key infrastructure projects and production investment projects have been completed and put into use, adding new capacity and promoting the development of industries and fields. The province has promptly directed the completion of investment procedures to start the projects: Ngoi Gianh Lake pipeline system, IC9 connecting route: Noi Bai-Lao Cai expressway, Tuyen Quang-Phu Tho expressway, ODA project in the health sector.

In particular, thanks to the drastic direction of compensation, site clearance, and speeding up the progress of projects, 10/20 key projects under the medium-term public investment plan from the central budget for the period 2021–2025 have been basically completed. By the end of June, public investment capital disbursed VND 1,776 billion, reaching 45% (maintaining the group of 5 localities with high disbursement rates).

Identifying site clearance as a key task and driving force to accelerate project progress and attract investment, in the first 6 months of the year, an additional 189 hectares of clean land were allocated to key projects, including 50 hectares of land in Cam Khe Industrial Park, 65 hectares of land in Dong Phi Industrial Cluster, and 74 hectares of land for Tam Nong 1 and 2 Golf Course projects.

The investment and business environment continue to improve, and infrastructure is gradually completed, creating favorable conditions to attract investment. Since the beginning of the year, 10 new FDI projects have been attracted, with registered capital of over USD47 million, and 19 domestic investment projects (DDI), with registered capital of over VND1,541 billion. Mobilizing resources for development investment reached VND21,465 billion, up 14.5% over the same period, of which the private economic sector reached VND12,969 billion, up 13.8%; and the foreign direct investment (FDI) sector reached VND4,123 billion, up 22.6% over the same period.

The increase in both implemented and registered FDI capital will further promote activities in the coming quarters, including construction and employment, affirming the trust and commitment of foreign enterprises to the country in general and Phu Tho province in particular in the current wave of de-globalization, risk reduction, and supply chain shift.

Investing in upgrading the power grid system to meet the production expansion needs of enterprises in Thuy Van Industrial Park, Viet Tri City.

Industry, tourism, and trade continue to recover and develop.

The province’s industrial production continues to grow strongly, reaching 14.58% in the first 6 months of the year compared to the same period; the industrial production index (IIP) increased by 33.8% over the same period in 2023, of which the processing and manufacturing industry increased by 35.1% and electricity production and distribution increased by 16.8%.

According to Mr. Nguyen Viet Dung, Director of the Department of Industry and Trade, 11/19 industries increased over the same period, of which electronics, computers, and optical products (accounting for 30%) increased by 45.7% and electrical equipment production (accounting for 5%) increased by 28.3 times. Notably, the contribution to industrial growth in the first 6 months mainly belonged to FDI enterprises due to the addition of new capacity since the end of 2023.

In which, the electronic factory project of BYD Electronics Company increased revenue by 20,000 billion VND in the first 6 months; Sunergy Cell Company’s solar panel production project, whose 6-month revenue reached VND3,500 billion, contributed significantly, helping to increase industrial added value by 26% and GRDP value by 8%.

In the tourism sector, Phu Tho has directed the strong implementation of activities and measures to stimulate tourism associated with the organization of Hung Kings' Commemoration Day, the Hung King Temple Festival, and the Cultural Tourism Week of the Ancestral Land in the year 2024, while promoting regional linkage activities, international cooperation, and tourism human resource development.

Along with participating in promoting and introducing ancestral land tourism at six events: the Vietnamese Tet Festival in Ho Chi Minh City, the Ban Flower Festival, the Ha Giang International Cultural, Tourism, and Culinary Festival, the Ho Chi Minh City Tourism Festival 2024, the Vietnam International Tourism Fair, and the and the Hanoi Tourism Festival, the province organized many tourism promotion activities at

Hung Temple Historical Site; deploying a community tourism support consultation point in Du hamlet, Tan Son district, to promote the development of new community tourism products. In the first half of 2024, tourism revenue reached over VND2,700 billion, up 13.3%; we welcomed 482,900 overnight tourists, including 5,500 international visitors, up 14.8% over the same period.

Types of commercial and service businesses developed widely, from urban areas to rural centers. Total retail sales of goods and consumer service revenue is estimated at VND27,728 billion, up 14.4% over the same period, of which retail revenue (accounting for 83%) increased by 15.7%; transportation revenue is estimated at VND3,715 billion, up 10.4% over the same period. Import and export turnover reached USD12,900 million, up 45.9% over the same period.

Agriculture associated with new rural construction is actively implemented.

Determining that the agricultural economy continues to play the role of “support” for the economy, the province always encourages the application of technical advances, developing concentrated production areas in an effective and sustainable direction. So far, the whole province has 445 concentrated growing areas with an area of 19,600 hectares, including 157 high-quality rice growing areas, 70 tea growing areas, 161 grapefruit growing areas, 33 banana growing areas, and 24 vegetable growing areas. Establishing and granting 267 growing area codes for 257 growing areas, with an area of 5,100 hectares, there are 40 concentrated large timber growing areas and 65 concentrated aquaculture areas. The ratio of concentrated livestock farming and farms to the total herd continues to increase.

In the first 6 months of the year, grain output reached 278,700 tons (up 1.0% over the same period), fresh meat output reached more than 110,000 tons (up 2.8%), aquatic product output reached 20,700 tons (up 3.3%), and exploited wood output reached over 484,000 m3 (up 3.2% over the same period).

Thanks to the drastic direction of implementing the National Target Program on building New-style Rural Area and the “One Commune, One Product” (OCOP) Program, in the first half of 2024, 2 more districts (Thanh Ba and Tam Nong) were recognized as New-style Rural Area districts (completed 2 years ahead of the Resolution of the 19th Provincial Party Congress), 2 communes met advanced New-style Rural Area standards, and 2 communes met model New-style Rural Area standards, bringing the number of New-style Rural Area districts in the province to 6 districts, 136 New-style Rural Area communes, 16 communes met advanced and model NTM standards, and 1,655 residential areas met New-style Rural Area standards. The whole province has 237 OCOP products with 3 stars or higher, including 182 3-star products, 54 4-star products, and 1 5-star product.

In addition to the outstanding economic achievements, the province has also paid attention to the comprehensive development of the cultural and social fields, harmoniously linked with economic development, ensuring social security, and improving the material and spiritual lives of the people. The quality of education and training continues to be enhanced and improved comprehensively. Cultural, artistic, and festival activities take place safely, healthily, and economically, contributing to honoring traditional cultural values, creating a joyful and exciting atmosphere among the people, and attracting domestic and international tourists to participate.

The results of activities in the first six months of the year have created positive signals, bright prospects, and development momentum for 2024. With the determination, efforts, solidarity, joint efforts, and consensus of all levels, sectors, people, and the business community, we believe that Phu Tho will successfully complete the set goals and tasks.

Dinh Vu