Momentum for Economic Growth

Recognizing the development of Industrial Parks (IPs) as a key driving force to promote economic growth, shift labor structure, and create sustainable budget revenue sources, the province has decisively directed and implemented numerous synchronized solutions in recent years to improve the investment environment, enhance competitiveness, and attract an increasing number of large-scale projects, especially Foreign Direct Investment (FDI) projects.

Recently, the Provincial IP Management Board granted the Investment Registration Certificate for the Project to Manufacture and Process Electronic Components at Tam Duong I IP - Area 2, Tam Duong commune. The project is invested by Jahwa Vina Co., Ltd. (100% Korean capital) with a total registered capital of over 2.625 trillion VND (equivalent to 100 million USD), utilizing 105,143.4 m2 of land for implementation.

The project aims to manufacture and process cameras and vibrating motors for mobile phones and other electronic devices, with a capacity of 48 million products/year. According to the plan, construction will commence in the fourth quarter of 2025 and the factory will officially operate from the second quarter of 2028. The project is expected to achieve revenue of nearly 4.5 trillion VND/year, contribute about 9 billion VND/year to the budget, and create jobs for over 1,300 workers, including 20 foreign experts and 1,300 local workers.

Manufacturing electronic components at Jahwa Vina Co., Ltd., Khai Quang Industrial Park.

Jahwa Vina Co., Ltd. (Khai Quang IP) is an enterprise manufacturing electronic components. The company’s production and business activities are continuously growing, creating stable employment and income for 3,200 workers. In addition to boosting production and business, the enterprise actively participates in social activities, dedicating 1 - 2 billion VND annually to welfare programs such as giving gifts to poor households, building houses for disadvantaged workers, and supporting orphaned children and poor students who overcome difficulties... contributing to spreading the spirit of community responsibility in the locality. This is one of the exemplary Korean investors making positive contributions to the province’s socio-economic development.

Currently, the entire province has 58 IPs with approved planning, totaling over 14,055 hectares; of which 28 IPs have been established and 17 IPs are operational. Some prominent IPs like Thang Long Vinh Phuc, Khai Quang, Ba Thien II, Binh Xuyen, Phu Ha, Trung Ha, Luong Son, and Yen Quang have high occupancy rates, attracting many large corporations and enterprises, making important contributions to the province’s budget and industrial development.

In the 10 months of 2025, total FDI capital registered for new projects and capital adjustments in IPs reached over 860 million USD, achieving 96% of the 2025 plan. Total DDI capital registered for new projects and capital adjustments reached over 14 trillion VND, achieving 120% of the 2025 plan.

Cumulatively, as of October 15, 2025, the IPs in the province have 825 valid secondary projects, including 317 domestic projects with a total investment of over 59 trillion VND and 508 FDI projects with a total investment of over 10 billion USD.

After the merger, Phu Tho entered a new development phase with an expanded market scale, abundant labor resources, and large industrial land funds. This presents a great opportunity, while also requiring strong innovation in planning, investment attraction, and industrial development. The province is focusing on completing the technical infrastructure of IPs, especially those capable of welcoming new FDI flows after the merger; simplifying administrative procedures, transparently communicating incentive policies, and training high-quality human resources, utilizing the labor force from the merged localities to meet enterprise demands.

At the conference to hear reports on investment attraction and IP project implementation, PPC Chairman Tran Duy Dong emphasized: "Industry continues to be the key economic sector, playing a pivotal role in the province’s growth. All levels and sectors need to be more decisive in promotion, investment attraction, and removing difficulties for enterprises; while focusing on on-site investment promotion, supporting enterprises in expanding production—especially in the fields of electronics, automobile and motorbike manufacturing, and supporting industries."

The PPC Chairman assigned the Provincial IP Management Board to take the lead, coordinating with relevant departments to intensify support for enterprises, expedite infrastructure construction progress, review the 146 secondary projects that have not yet become operational, and prioritize attracting high-tech, environmentally friendly projects. The province requires the completion of the establishment and approval of detailed construction zoning plans for key IPs such as: Lap Thach I, Lap Thach II, Yen Lac, Binh Xuyen - Yen Lac I & II, Thai Hoa - Lien Son - Lien Hoa; Thanh Cao, Lac Thinh, Tam Duong II - Area B, Dong Soc - Yen Lac (before November 30, 2025).

The province will continue to review the IP development plan integrated into the Provincial Master Plan for the period 2021 - 2030, with a vision to 2050, ensuring consistency with the overall regional planning after the merger, aiming to attract high-tech, environmentally friendly projects associated with green transition and digital transformation in industrial production. The goal is that by 2030, Phu Tho strives to become an industrial and service center of the Northern Midlands and Mountainous region.

Van Cuong