Phu Tho Attracts High-Quality Investment for Sustainable Development

Amid increasingly intense competition for investment, Phu Tho Province remains committed to the principle that economic growth must go hand in hand with environmental protection, improved quality of life, and the efficient use of resources. The province is gradually shifting from an investment strategy focused on quantity to one that prioritizes high-quality projects, laying a solid foundation for rapid, green, and sustainable growth.

Workers at Piaggio Vietnam Co., Ltd. in Binh Xuyen Industrial Park operate a production line assembling premium scooters.

Enhancing the Quality of Investment Capital

The first months of 2026 have delivered impressive results in investment attraction and business development. According to the province’s socio-economic report for the second quarter and the first six months of 2026, investment attraction and enterprise development recorded significant growth compared with the same period last year. Foreign direct investment (FDI) reached $1.77 billion, equivalent to 110.2% of the annual target and nearly 4.9 times higher than the corresponding period in 2025, while domestic direct investment (DDI) exceeded VND 18.7 trillion.

Whereas the province previously prioritized the number of investment projects, it now focuses on selecting investors with strong financial capacity, advanced technologies, modern management practices, and a firm commitment to sustainable development. Under the 2026–2030 New-Generation FDI Attraction Strategy, priority is given to high-tech industries, electronics, semiconductors, supporting industries, logistics, renewable energy, digital technologies, and environmentally friendly manufacturing. Projects relying on outdated technologies, high energy consumption, or posing environmental risks are subject to strict screening from the appraisal stage.

According to Tran Quang Tuan, Director of the Department of Industry and Trade, the province has fundamentally changed its approach to industrial investment attraction by emphasizing project quality, efficiency, and sustainability rather than quantity. Investors are carefully selected based on their financial strength, management experience, and application of advanced technologies. Priority is given to projects in manufacturing and processing industries, supporting industries, and high-tech sectors that are capable of integrating into global value chains and generating high added value.

This strategy aligns with current international investment trends, as multinational corporations increasingly prioritize green development, carbon emission reduction, and corporate social responsibility. To support this direction, Phu Tho has invested substantially in developing modern, integrated industrial park infrastructure. All new industrial parks are required to install centralized wastewater treatment systems, automatic environmental monitoring systems, and adequate green spaces. Environmental impact assessments are conducted rigorously to ensure that new projects do not adversely affect local communities or ecosystems.

At the same time, the province places considerable emphasis on the quality of employment created by investment projects. In addition to generating jobs, enterprises are encouraged to provide vocational training, enhance workforce skills, improve employee income, and strengthen welfare policies. Across many industrial parks, the adoption of smart factories and automated production systems has improved labor productivity while reducing energy consumption, lowering emissions, and increasing business competitiveness.

Building a Foundation for Green Growth

According to Bui Hong Do, Director of the Provincial Investment Promotion and Business Support Center, today’s investors evaluate not only land incentives and tax policies but also the quality of the local living environment, social infrastructure, and workforce. Consequently, investment in education, healthcare, worker housing, and urban infrastructure represents a long-term investment in the province’s competitiveness.

Experience has shown that localities offering transparent investment environments, well-developed infrastructure, and high living standards consistently attract strategic investors over the long term. This is precisely the development path that Phu Tho is committed to pursuing.

In 2026, the province aims not only to attract more than $1.1 billion in FDI and VND 70 trillion in DDI but, more importantly, to achieve a qualitative transformation by building a modern investment ecosystem. Rather than pursuing investment at any cost, Phu Tho is adopting a strategy of "selective attraction and proactive development." Innovation will be used to attract high-tech industries, digital transformation will streamline administrative procedures and enable the operation of smart industrial parks, while green development will serve as the defining criterion for building sustainable eco-industrial parks.

At the Investment Promotion Conference held in Ho Chi Minh City in late May, provincial leaders reaffirmed their commitment to prioritizing projects in high technology, supporting industries, logistics, high-tech agriculture, the circular economy, and clean energy. During the event, the province also announced a list of 175 investment projects seeking investors for the 2026–2030 period, with the goal of maximizing the development potential of each economic zone within its expanded development space.

According to Tran Duy Dong, Chairman of the Phu Tho Provincial People’s Committee, the province remains committed to accompanying businesses by fostering an open, transparent, and business-friendly investment environment, with the success of enterprises serving as a key measure of government performance. This commitment is not merely an investment promotion message but also reflects the province’s determination to build an economy that grows rapidly while maintaining a balanced approach to economic, social, and environmental sustainability.

Building on its recent achievements and clear strategic direction, Phu Tho is steadily strengthening its position as an attractive destination for high-quality investment. By consistently selecting projects that apply advanced technologies, protect the environment, and generate high added value, the province is laying a strong foundation for sustained long-term growth and moving closer to its ambition of becoming a dynamic economic growth pole in Vietnam’s Northern Midlands and Mountainous Region.

Ngoc Tuan