Improving the Investment Environment and Enhancing Provincial Competitiveness

Identifying the improvement of the investment environment and provincial competitiveness as a key priority, Phu Tho Province has focused on a synchronized range of solutions to build a transparent and favorable business climate. These strong shifts in policy and mechanisms aim to encourage all economic sectors, with a particular focus on creating optimal conditions for the rapid development of the private sector to drive sustainable growth.

Cosmos 1 Technology Co., Ltd. (Thuy Van Industrial Park) maintains stable production thanks to a favorable investment environment, providing jobs for approximately 1,000 workers.

Establishing a Favorable Investment Environment

In the 2021-2025 period, Phu Tho recorded positive results in investment attraction, with total social development investment reaching nearly 598.6 trillion VND, an average annual increase of 13.6%. Support for business registration has been prioritized, fostering a vibrant startup movement. In the first quarter of this year, the province saw approximately 1,400 newly registered enterprises with a total registered capital of 9.3 trillion VND, a nearly 50% increase in capital volume.

The province has drastically directed departments and localities to review and remove unnecessary business conditions, overcoming overlaps in procedures. Digital transformation in administrative services continues to benefit citizens and businesses. In Q1 2026, the rate of online document processing reached nearly 92%, while 100% of commune-level public administration centers maintained a “green” status (high-efficiency rating).

Phu Tho is particularly focused on resolving “bottlenecks” regarding land and production premises—key factors in investment attractiveness. Land-use planning and information regarding industrial park infrastructure, rental prices, and support services are publicized transparently. To date, the province has established 29 industrial parks (IPs), with an occupancy rate of over 70%. This remains a crucial space for Phu Tho to welcome a new wave of investment, especially large-scale, high-tech, and supporting industry projects.

Regular dialogues and meetings with businesses are maintained to promptly resolve difficulties. According to Mr. Bui Hong Do, Director of the Provincial Investment Promotion and Business Support Center, the province has innovated its promotion methods to reach partners from developed nations while strengthening “on-site” promotion to assist investors during project preparation.

Breakthroughs in Competitiveness for the New Era

In January 2026, the Provincial People’s Committee approved the Project to Improve the Investment Environment and Enhance Provincial Competitiveness for 2026–2030. The specific target for 2026 is for Phu Tho to rank among the top 15/34 provinces and cities with the best governance quality, and among the top 10/34 from 2027 onwards.

To realize these goals, several key tasks have been identified. First and foremost, the province will continue to raise awareness, responsibility, and the dynamism and creativity of government leaders at all levels, as well as the contingent of cadres and civil servants, in supporting businesses—particularly the non-state sector. The focus is on building a transparent administration with dedicated and responsible civil servants who possess a desire for innovation, creativity, and the boldness to think and act.

Efforts will be concentrated on accelerating administrative reforms, digital transformation, and the application of information technology to minimize time-related costs for citizens and enterprises. Resources will be mobilized to create breakthroughs in investment for key infrastructure, industrial development, and services to meet the demands of investors.

In addition, the province will promote the publicity and transparency of information for businesses, utilizing mass media to widely disseminate information regarding planning, investment plans, key construction projects, and the orientation of production and business sectors based on the province’s strengths. A strong shift will be made in resolving issues related to production and business premises for enterprises. Furthermore, the quality of human resource training will be enhanced to meet labor market demands, alongside the diversification of business support services, especially for the private sector.

The synchronized implementation of these solutions will continue to establish a favorable, equal, friendly, open, and transparent business environment, providing effective support for enterprises within the province. This serves as a vital foundation for the locality to effectively attract resources and drive rapid, sustainable economic growth in the coming period.

Nguyen Hue