“Home” of “technology eagles”

The convergence of Vinh Phuc, Hoa Binh, and Phu Tho has shaped a land brimming with promise, a dynamic economic hub with some of the most compelling prospects in Northern Vietnam. With practical experience drawn from investment promotion in Vinh Phuc, the newly expanded Phu Tho province is unlocking golden opportunities for investors, especially in high-tech sectors, offering an ideal destination to “build nests” and soar.

Electronic circuit board production at Ghflex Vina Co., Ltd. (Khai Quang Industrial Park).

Located just 50 to 80 kilometers from central Hanoi, within the Northern key economic region, Phu Tho provides investors easy access to large consumer markets and abundant high-quality labor from the capital’s universities and research institutes. Its modern and well-connected transport infrastructure links seamlessly with seaports and international airports, facilitating trade and logistics at a national and global scale.

One of the most strategic decisions by the central government is the positioning of the Noi Bai–Lao Cai Expressway as an internal industrial-logistics axis for the newly merged Phu Tho province. This creates favorable conditions for the local government to build an open, dynamic, and business-friendly environment at speed. The provincial road system and secondary traffic routes have also been significantly upgraded, boosting the movement of raw materials and goods while tightening the linkage between enterprises and connecting urban and rural areas.

Further infrastructure projects are in the pipeline. The IC2 and IC5 expressway intersections are set for development, while the proposed Lao Cai–Hanoi–Hai Phong high-speed railway, expected to pass through the area, will further reinforce the region’s attractiveness to global corporations and high-tech giants.

With a natural area of more than 9,361 square kilometers and a population exceeding four million, the new Phu Tho province—formed from the merger of Vinh Phuc, Hoa Binh, and Phu Tho—now includes 148 commune-level administrative units, with Viet Tri serving as the political-administrative center.

Among its prominent features is Nam Binh Xuyen Industrial Park, a strategically planned zone equipped with advanced technical infrastructure, a centralized wastewater treatment system, and synchronized social amenities. These features are expected to position the province as a national hub for the semiconductor industry, attracting leading corporations and high-tech enterprises.

This newly configured province stands among the top in Vietnam in terms of economic scale and state budget revenue. Phu Tho boasts a balanced, competitive structure that harmonizes cultural heritage and human capital with industrial and service-sector growth. Notably, the emergence of high-tech zones is becoming a defining characteristic of its economic landscape.

Industrial parks are thriving, home to an increasing number of technology-focused enterprises such as Khai Quang, Thang Long Vinh Phuc, and Ba Thien I and II. These parks are equipped with high-standard infrastructure, power supply, water systems, broadband internet, centralized waste treatment, and accompanied by social infrastructure, including the Hung Vuong High-Tech Park and Nam Binh Xuyen Industrial Park. Together, they form a powerful magnet for semiconductor projects and high-tech investments.

A shining example is the VSIP Phu Tho Industrial Cluster, a successful partnership between Phu Tho province and Singapore’s Sembcorp Group. Built to international standards, VSIP Phu Tho is emerging as a leading FDI destination and a launchpad for attracting future high-tech projects.

Backing this industrial surge is a newly streamlined provincial government led by a team of youthful, capable leaders with real-world experience in investment attraction. This new leadership pledges to maintain flexibility, responsiveness, and full application of legal incentives, especially for high-tech projects and zones. These include corporate income tax reductions, land rent exemptions, and training support.

Provincial departments and agencies are making strong strides in administrative reform, promoting one-stop-shop mechanisms and offering end-to-end assistance throughout the investment and operation lifecycle. The guiding spirit of “going first, staying ahead, and accompanying investors” has become a central mantra for the energetic new administration. To become a truly competitive destination for high-tech projects, Phu Tho must now rebrand itself from a traditional industrial province into a regional high-tech powerhouse.

The first priority lies in upgrading the quality of its human resources. Authorities must assess and enhance existing training institutions while expanding collaboration with major universities and colleges in Hanoi. The goal is to develop skilled workers in fields such as precision mechanics, electronics, automation, and IT, right from within the province. At the same time, Phu Tho must clearly define its distinct advantages, setting itself apart from neighboring provinces that have traditionally led in high-tech development, and proactively position itself to ride the incoming wave of new investments.

Accelerating the construction and ensuring the quality of standard-compliant industrial clusters is equally vital. Alongside this, the province needs to encourage the establishment of research institutes, innovation centers, and technology-supporting enterprises to build a full-fledged high-tech ecosystem.

Phu Tho’s strategic geo-economic location, combined with high political will, specialized infrastructure, competitive incentives, and sweeping administrative reforms, makes it a strong contender to become Vietnam’s next high-tech investment destination. Although there are still challenges ahead, the province’s methodical and proactive approach reflects its readiness to support global “technology eagles” in nesting, thriving, and creating high-added-value industries.

Van Cuong