Phu Tho Expands Investment Connections and Development Cooperation with Yunnan Enterprises (China)

Continuing the working program in Yunnan Province (China), on September 16, a delegation from Phu Tho Province led by Comrade Vu Viet Van, Member of the Standing Committee of the Provincial Party Committee and Vice Chairman of the Provincial People’s Committee, visited and held a working session with Yunnan Hongshen Building Materials Group and conducted a field survey at the Qixing Quarry to promote and seek investment cooperation opportunities in construction and high-tech materials supply.

Comrade Vu Viet Van, Member of the Standing Committee of the Provincial Party Committee and Vice Chairman of the Provincial People’s Committee, alongside delegation members at the working session.

At the working session, representatives of Yunnan Hongshen Building Materials Group introduced their operational scale, production capacity, and modern mineral exploitation and processing model; while expressing their desire to learn about mechanisms, policies, and investment cooperation opportunities in Phu Tho Province.

Informing the partner about Phu Tho Province’s orientation and development potential, Vice Chairman of the Provincial People’s Committee Vu Viet Van emphasized: Following administrative boundary mergers, Phu Tho possesses a vast development space covering an area of over 9,300 square kilometers, with a population of over 4 million people, including more than 2 million workers. The province holds a strategic position on the Kunming - Lao Cai - Hanoi - Hai Phong - Quang Ninh economic corridor, serving as a trade gateway between northern Vietnamese provinces and Southwestern China.

Overview of the working session between the Phu Tho provincial delegation and Yunnan Hongshen Building Materials Group.

To date, Phu Tho has planned 57 industrial zones (30 established) covering a total area of over 5,800 hectares. In 2025, the province’s economic growth rate reached 10.52%, with the economy’s scale reaching nearly 16 billion USD. The locality has attracted 747 FDI projects from 28 countries and territories, with total registered capital exceeding 15 billion USD. Among these, Chinese investors currently contribute about 180 projects totaling approximately 3.57 billion USD.

Comrade Vu Viet Van affirmed that Phu Tho continues to identify industry as the leading growth driver, closely tied to developing logistics systems, trade, services, and tourism. The province prioritizes attracting high-tech, high value-added, and environmentally friendly projects, especially enterprises capable of integrating deeply into global supply chains.

The Phu Tho delegation surveys the production facilities of Yunnan Hongshen Building Materials Group.

Highly valuing Phu Tho’s investment environment, Mr. Guo Fu-kun, representative of Yunnan Hongshen Group and Chairman of the Honghe Prefecture Concrete and Sand-Stone Aggregate Industry Association, proposed researching an investment in an integrated building materials project complex in the province.

The project is expected to comprise an exploitation chain producing sand, stone, concrete mixing stations, asphalt, non-baked bricks, and autoclaved aerated concrete... directly serving infrastructure, urban development, and new rural construction projects.

The enterprise committed to strictly complying with Vietnamese law, placing environmental protection as the foundation toward a sustainable “green mine” model, while expressing hope to receive support regarding legal procedures and investment policies from the province.

The Phu Tho delegation alongside leaders of Yunnan Hongshen Building Materials Group.

Welcoming the proposal of Yunnan Hongshen Building Materials Group, the Vice Chairman of the Provincial People’s Committee noted that the construction and building materials sector still offers significant room for cooperation as Phu Tho accelerates completing technical infrastructure and expanding development space. He suggested the enterprise continue in-depth surveys to clarify scale, technology, and cooperation plans to ensure feasibility and alignment with master planning as well as Vietnamese law.

Agreeing on the next implementation steps, representatives of Hongshen Group and the Honghe Prefecture Concrete and Sand-Stone Aggregate Industry Association will soon dispatch a working team directly to Phu Tho for field surveys and to advance investment preparation procedures.

The working visit concluded successfully, contributing to promoting the province’s image, potential, and business investment environment, while opening up practical cooperation opportunities to concretize economic connectivity between Phu Tho and enterprises in Yunnan Province (China).

P.V