Flexible and proactive in innovating investment promotion activities

Implementing a breakthrough in strongly improving the investment and business environment with synchronous and drastic solutions, Phu Tho province has been increasing its competitive advantage in attracting domestic and foreign investment. This is both an opportunity and a challenge as well as a favorable condition for the province to continue promoting investment promotion activities in a more centralized, focused, flexible and proactive way.

Promoting and inviting investment is one of the important tasks to successfully access and attract domestic and foreign investment capital into the province, in accordance with current and future socio-economic development goals. Therefore, takeing advantage of the support of ministries, central branches, international organizations, Northern Investment Promotion Center, Foreign Investment Department, domestic and foreign business associations, over the past time, the Provincial People’s Committee has been established relationships with consulting organizations and large corporations to promote and invite investment. The investment promotion process is always consistent with the view of seriously implementing the Party’s policies and regulations, the State’s and the province’s legal policies on attracting investment associated with sustainable development and environmental protection, not attracting investment regardless of any costs, enhance effective and in-depth investment promotion; At the same time, well implement the motto “Win-Win”, “Your success is our success”.

Every year, the province’s investment promotion program is built, approved and implemented methodically with a variety of contents and forms. This includes the initiative and positivity of provincial leaders and specialized agencies in organizing investment promotion in the United States, Canada, Europe, China and some countries in Southeast Asia. Specifically, in August 2022, the province’s investment promotion conference in the United States and Canada was held to invite American businesses to invest in the province in a number of strong areas such as: Industrial production using high technology, clean energy, information technology, electronic equipment, automation, supporting industries, etc. These are also areas that Phu Tho province wants to attract investment, opening up many cooperation prospects. Also with the desire to invite large businesses and corporations, the province’s investment promotion program in China that took place at the end of February 2023 has achieved many positive results when large corporations such as BYD and Wingtech All highly appreciated and expressed their interest in investing in Phu Tho. In particular, BYD Group is investing in the field of manufacturing components, electronics, tablets,... in Phu Ha Industrial Park, Phu Tho Town with a registered investment capital of 269 million USD. In 2021, Wingtech Group made a preliminary survey on investment opportunities and will continue to survey and select feasible investment opportunities in the province...

Along with attracting focused FDI investment, the province also strengthens the implementation of domestic investment promotion on the basis of researching market potential and strengths of localities, businesses and investors. Last year, agencies in the province conducted many investment promotion activities in Ho Chi Minh City, Dong Nai and Binh Duong provinces, and worked directly with Sam Sung Electronic Company, Amata Group (Thailand), a number of large corporations and businesses from Korea and Taiwan (China) to invite investment into the province. Leaders of the Provincial People’s Committee and departments and branches have actively participated in direct investment promotion work and participated online and offline in 12 investment promotion conferences and seminars organized by central and local agencies domestically and internationally. position; Organized to welcome and work with nearly 30 domestic and foreign businesses/ investors, creating conditions for investors to seek investment opportunities in the province.

With initiative, flexibility, and an increasingly open and transparent investment environment, Phu Tho has been seizing opportunities, opening up opportunities for cooperation with many domestic and international investors. Innovation and improving the efficiency of investment promotion activities will also contribute to promoting the province’s socio-economic development, gradually realizing the goal and aspiration of building Phu Tho as the leading developed province in the Northern Midlands and Mountains region as proposed by the Resolution of the 19th Provincial Party Congress.

Thuy Duong