Creating Momentum for Growth

Implementing Conclusion No. 123-KL/TW dated January 24, 2025, of the Party Central Committee and Resolution No. 25/NQ-CP of the Government, Phu Tho Province has been assigned a growth target of 8% or higher (0.5 percentage points above the province’s initial plan). To achieve this goal, the Phu Tho Provincial People’s Committee has directed a review of resources, new growth drivers, and capacities, while formulating quarterly, semi-annual, nine-month, and annual growth scenarios for 2025.

The Tay Nam Viet Tri City Urban Area – Palm Manor (Minh Nong Ward, Viet Tri City) is one of Phu Tho’s modern green urban housing projects.

Recently, the province has focused on resolving long-standing, stalled projects and accelerating their completion to prevent waste and losses. Based on a review of public investment projects, non-budget investment projects, and surplus office buildings, Phu Tho Province issued Plan No. 107/KH-UBND on November 29, 2024, to implement the Prime Minister’s directive. Under this plan, agencies and units have been instructed to review, consolidate, and develop implementation plans to address difficulties for six investment projects and 308 surplus, unused office buildings.

To ensure the achievement of a GRDP growth rate of at least 8% in 2025, the province has conducted thorough assessments and used the findings to propose highly feasible solutions. New growth drivers and capacities are emerging from newly enacted policies, institutional reforms, and the resolution of existing bottlenecks.

In the first two months of this year, key growth indicators have shown positive trends: industrial output increased by 47.3%, total retail sales grew by over 14%, and exports rose by 8.5%. Major projects in transportation, industrial zones, urban areas, and manufacturing have been accelerated. Despite various challenges, the province’s socio-economic situation in the first two months of 2025 continues to improve, with stable agricultural production, strong industrial growth, and significant expansion in trade and services. Political security remains assured, and social order is stable.

With decisive leadership in governance and execution, Phu Tho has promptly implemented and materialized the requirements of the Government’s Resolution No. 25/NQ-CP; the review of resources, new growth drivers, and capacities, as well as the formulation of growth scenarios submitted to the Provincial People’s Council for approval, has been conducted systematically, urgently, and based on practical conditions.

To ensure an economic growth rate (GRDP) of at least 8%, the province has outlined a detailed roadmap, including: Q1: 6.7% or higher; Q2: 7.7% or higher; First half of the year: 7.2% or higher; Q3: 8.9% or higher; First nine months: 7.8% or higher; Q4: 8.5% or higher.

To achieve the targets set for 2025, Phu Tho is focused on significantly improving the investment and business environment; creating an open, attractive investment climate. The province aims to efficiently mobilize private, foreign, and local investment resources to drive business and production growth. Efforts are concentrated on implementing comprehensive support measures, resolving difficulties, promoting economic expansion, and ensuring the timely and effective application of tax and credit support policies.

Additionally, the province is accelerating the completion of key projects within its territory. Regarding industrial parks (IPs) and industrial clusters (ICs), Phu Tho continues to review and adjust land-use plans, prioritizing new projects following planning regulations; focusing on completing investment procedures and selecting suitable investors. Key projects include the completion of Phase IV of Thuy Van IP (29 ha), Phu Ha IP (50 ha), and Cam Khe IP (50 ha), along with expediting the 1/2000-scale zoning plan for Phu Ninh IP and Trung Ha II IP.

Regarding urban area projects, a review and assessment of project status and progress will be conducted, with early notification of land lease fees to ensure timely state budget revenue collection. The scale of projects will be adjusted to ensure feasibility and efficient land use, in alignment with planning regulations (Viet Tri Sports Eco-Urban Area, Southeast Viet Tri New Urban Area).

Chairman of the Provincial People’s Committee Bui Van Quang has directed: Accelerate the disbursement of public investment capital from the beginning of the year, complete mid-term projects for the 2021-2025 period, and ensure the three national target programs for 2021-2025 meet the required progress and objectives. Focus intensely on the implementation of land clearance for key national projects passing through the province. Carry out fiscal tasks and solutions decisively, comprehensively, and effectively to ensure accurate, sufficient, and timely tax collection in accordance with regulations, including revenues from e-commerce transactions and digital platform businesses. Effectively implement policies and credit programs, prioritizing capital for key sectors and growth drivers, creating momentum for socio-economic development.

Ngoc Ha