Creating Favorable Conditions for the Business Community to Develop Stably and Sustainably, Contributing Increasingly to the Province’s Double-Digit Growth Target

On the morning of October 23, the Phu Tho Provincial People’s Committee organized a gathering program with enterprises making major contributions to economic growth and budget revenue in Phu Tho Province. Comrade Tran Duy Dong, Alternate Member of the Party Central Committee, Deputy Secretary of the Provincial Party Committee, and Chairman of the Provincial People’s Committee, attended and chaired the program.

Attending the event were Comrade Vu Viet Van, Member of the Standing Board of the Provincial Party Committee and Vice Chairman of the Provincial People’s Committee; leaders of relevant departments, boards, and branches; alongside representatives of prominent corporations and enterprises making major contributions to economic growth and budget revenue in the province.

Chairman of the Provincial People’s Committee Tran Duy Dong delivers opening remarks at the program.

Delivering opening remarks, Chairman of the Provincial People’s Committee Tran Duy Dong affirmed: The achievements in local socio-economic development stem from important, direct contributions by the business community, entrepreneurs, and investors. Beyond contributing to economic growth, budget revenue enhancement, and job creation, enterprises serve as pioneer forces in technological innovation and market expansion, contributing to shaping economic structures and driving key local industrial sectors.

He emphasized: Phu Tho Province’s consistent, overarching viewpoint is to always accompany enterprises, placing businesses at the center of service; taking the efficiency of resolving difficulties and obstacles alongside corporate operational results and development as important measures in directive and governance work. Through this, the province continuously improves its investment and business environment, creating favorable conditions for enterprises to develop sustainably.

Leaders of the Department of Finance report on the socio-economic development situation in the first 9 months of 2026 and key contributions from the business community.

During the first 9 months of 2026, despite numerous difficulties and challenges, Phu Tho’s economy maintained strong growth momentum, with Gross Regional Domestic Product (GRDP) increasing by 10.01%, ranking 11th out of 34 provinces and cities nationwide. Economic scale reached approximately 345.4 trillion VND. Industry continued to affirm its role as the primary growth driver, with the industrial production index rising by 21.52%, contributing approximately 6.18 percentage points to GRDP growth.

A representative of Compal (Vietnam) Co., Ltd. exchanges several future development orientations of the enterprise.

The investment and business environment continued to improve, yielding positive investment attraction results. Total realized investment capital in the region reached 118.4 trillion VND, up 15.8% year-on-year. Foreign Direct Investment (FDI) attraction reached over 2.4 billion USD, fulfilling 151.3% of the annual plan. Domestic investment attraction reached 83.9 trillion VND.

The entire province recorded approximately 3,840 newly established enterprises. Numerous businesses continued expanding production scale, investing in technological innovation, creating additional jobs, and contributing positively to economic growth.

A representative of Toyota Motor Vietnam proposes several key contents.

Alongside economic growth, state budget revenue collection achieved solid results. Total state budget revenue in the region over 9 months reached 48 trillion VND, up 9.5% year-on-year, reaching 82.7% of the annual estimate; among which domestic revenue reached approximately 43.1 trillion VND.

Notably, enterprise revenues across the region increased by 25.9% year-on-year, contributing approximately 20 trillion VND to the budget, an increase of 26%.

These results continue to affirm the vital role of the business community — particularly industrial manufacturing enterprises, FDI firms, and large-scale businesses — in the province’s socio-economic development.

A representative of Piaggio Vietnam Co., Ltd. delivers a presentation at the program.

To create favorable conditions for business development, Phu Tho Province focused on accelerating administrative reform, digital transformation, and elevating service quality for citizens and enterprises. Notably, the province cut 30% of administrative procedure processing time and 30% of compliance costs; effectively leveraging mechanisms such as “24-Hour Green Lane”, “50% Green Lane”, and the “Entrepreneur Coffee” model. Concurrently, the province strengthened dialogue to promptly resolve difficulties in investment, land, construction, and site clearance, enabling projects to commence operations early.

However, business production and trade activities still face numerous difficulties due to market fluctuations, production costs, logistics, technology requirements, human resources, and bottlenecks in investment project execution.

Facing these realities, the province determined to continue accompanying and supporting enterprises, focusing on removing bottlenecks, promoting production and business, and accelerating key project schedules.

In the final 3 months of the year, Phu Tho strives to complete the full-year GRDP growth target of approximately 11%, targeting Q4 growth of around 13.5%; total full-year state budget revenue is projected at approximately 58.02 trillion VND.

The province concentrates on supporting enterprises to maintain production, expand orders and markets, and accelerate investment project schedules. The goal is to have at least 23 projects within industrial parks and 11 projects outside industrial parks completed and operational during Q4.

A representative of BYD Electronics (Vietnam) Co., Ltd. requests support in resolving production and business difficulties.

At the program, 10 representatives of enterprises delivered remarks. Discussions focused on production and trade status, difficulties and obstacles encountered during operations, and proposed solutions to improve the investment environment and create favorable conditions for enterprise development.

Based on corporate feedback and proposals, representatives of relevant departments and branches directly exchanged, clarified, and resolved matters within their functions, duties, and authority. Concurrently, they absorbed recommendations requiring further study and coordination to resolve, creating favorable conditions for businesses to stabilize production, expand investment, and contribute positively to provincial socio-economic development.

Leaders of the Department of Construction exchange and clarify matters under their authority.

Leaders of the Department of Industry and Trade answer enterprise feedback and proposals at the program.

After listening to and absorbing recommendations from business representatives, Chairman of the Provincial People’s Committee Tran Duy Dong recognized, commended, and thanked enterprises for their important contributions to Phu Tho’s overall development.

The Provincial Chairman emphasized: Enterprises hold a core role in the province’s economy, not only directly generating large production values and budget revenues, but also shaping industrial structures, enhancing production capacity, competitiveness, and Phu Tho’s economic posture. The development of enterprises holds special significance for fulfilling the province’s double-digit growth target in 2026 and subsequent years.

The Provincial Chairman stressed the vital role of key enterprises in maintaining growth momentum, requesting all levels and sectors to be more proactive and decisive in supporting businesses. Beyond resolving emerging difficulties, authorities must grasp investment plans and production expansion needs early on to prepare necessary conditions, transforming investment resources into actual production capacity at an early date.

Regarding key tasks in the coming period, Chairman Tran Duy Dong requested departments, branches, and localities to focus on supporting enterprises to maintain and expand production, striving to achieve the highest completion of 2026 production and business plans.

Heads of agencies, units, and localities must directly grasp the operational status of key enterprises, promptly resolving obstacles in land, site clearance, investment, construction, environment, electricity, connecting transport, and labor under provincial jurisdiction.

He assigned the Department of Finance to lead and coordinate with relevant agencies to urgently review the production and trade status of key enterprises, identifying capacity to contribute additionally to growth and budget revenue in Q4/2026, proposing concrete support plans. Concurrently, the department will synthesize all program recommendations, categorize them by authority, assign lead agencies, establish processing deadlines, and report to the Provincial People’s Committee.

In particular, the Provincial Chairman requested establishing direct, regular coordination, information exchange, and support mechanisms for enterprises right within 2026. Support efficiency must be evaluated through concrete results such as shortened processing times, resolved bottlenecks, deployed projects, and expanded corporate production capacities.

For the business community, the Provincial Chairman requested continued leveraging of production capacity, proactively expanding markets, increasing output and revenue, stepping up investment, technological innovation, digital transformation, and elevating governance capacity.

Major enterprises must fulfill a leading role, strengthening linkages with domestic firms, developing supporting industries, training human resources, and creating additional momentum for sustainable growth.

Concurrently, businesses should proactively coordinate with functional agencies to review production and business plans for the final months of 2026 and investment orientations for 2027, enabling the province to prepare timely support conditions.

Overview of the gathering program.

The Provincial Chairman affirmed that Phu Tho will continue accompanying and creating the most favorable conditions under legal regulations for enterprises to develop. He requested heads of departments, branches, and localities to raise their sense of responsibility, proactively coordinate, and promptly resolve corporate recommendations. Through this, the province creates conditions for the business community to develop stably and sustainably, contributing increasingly to the province’s double-digit growth target in 2026 and subsequent years.

Duc Anh