Improving Management Effectiveness and Business Environment

From the beginning of 2025, with the goal of achieving “double-digit” economic growth, the provincial leadership has demonstrated a strategic vision and commendable proactivity. The foundation for this breakthrough is firmly built on the widespread implementation of key government resolutions, particularly Resolution No. 25/NQ-CP and Resolution No. 154/NQ-CP, which aim for national growth of 8% or more. Decision No. 554/QD-UBND, issued on August 7, 2025, shortly after the stabilization of the new administrative apparatus, set a growth target of 10.3% compared to 2024.

BANDAI Co., Ltd., 100% Japanese-invested, operating effectively at the Left Bank Da River Industrial Park, Hoa Binh Ward

The decision clearly allocated responsibilities, setting out 8 general tasks, 72 specific tasks for each department, and 33 socio-economic indicators. Hundreds of investment projects, both new and ongoing, were added to the monitoring list to ensure timely progress. This approach has turned macroeconomic goals into actionable, measurable, and monitorable micro-level tasks, creating an efficient and transparent working framework.

The new model for handling administrative procedures has proven highly effective. With 2,201 public administrative procedures (TTHC) made transparent, the system has become an effective interaction channel between the government, citizens, and businesses. The online submission rate has reached 84.88%, placing Phu Tho 12th out of 34 provinces and cities. Additionally, 100% of one-stop-shop units at the district and commune levels have implemented digitalization of files, clearly indicating the success of the digital transformation in public administration.

The investment environment continues to improve significantly. In August 2025 alone, the province attracted over 205 million USD in FDI. By the end of August, the cumulative total reached 857.5 million USD, an impressive result. Notably, the influx of capital not only came from new projects (39 projects) but also from the trust of existing investors, with 47 projects increasing their investment capital. Domestic direct investment (DDI) reached 54.8 trillion VND, nearly three times higher than the same period last year. Furthermore, the province has attracted interest from major corporations from Japan, Australia, Singapore, South Korea, and other countries, demonstrating continued improvements in the investment environment.

The goal of bringing 99 projects into operation in 2025 is gradually becoming a reality. By the first eight months of the year, 40 projects had officially gone into production, generating jobs and adding value to the economy. Particularly, the establishment of nearly 3,420 new businesses (a 62.9% increase) and the return of 770 businesses indicate strong market confidence and the vigorous vitality of the business community.

By allocating investment capital plans early and implementing decisive measures, Phu Tho’s public investment disbursement rate has reached 90.8% of the central government’s target, far exceeding the national average of 43.9% and ranking 6th out of 34 provinces. This contributes to mobilizing investment resources for development and highlights the effectiveness of the reforms, enhancing the management and operational capacity of local governments.

Le Chung