Phu Tho is innovative and flexible in investment promotion

In recent years, investment attraction in Phu Tho has gradually shifted from “quantity” to “quality”, gradually shifting from passive mechanisms to proactive environmental control and monitoring of projects attracting investment.

The delegation of Shimane province, Japan, visited Vietnam Sunergy Cell Co., Ltd. in Cam Khe Industrial Park.

It is no coincidence that in recent years, Phu Tho has become a bright spot in attracting investment, a reliable address for many domestic and foreign investors to come to learn, research and implement projects in the area. Phu Tho province has proactively innovated methods, approaching investors in a proactive, flexible, focused and key way, creating a breakthrough to improve investment attraction efficiency. Through the political system, functional branches and media and press agencies, the province has promoted communication, propaganda and the promotion and introduction of the province’s environment, policies, potential and investment opportunities.

Since the beginning of the year, Phu Tho has cleared 189 hectares of land for key projects and strives to create an additional 140–150 hectares of clean land to attract investment.

To improve the effectiveness of investment promotion, Phu Tho has stepped up the implementation of investment attraction policies, notably focusing on improving administrative procedures and making the investment and business environment transparent Create the best conditions for investors to learn, research and implement projects in the area. The province is also interested in researching and promulgating specific and competitive support mechanisms and policies to attract large domestic and foreign corporations and businesses to invest. In particular, the Provincial People’s Committee has made good use of opportunities, establishing relationships with organizations and large corporations to promote and invite investment.

In particular, in the investment promotion program that is built and implemented annually, it is necessary to mention the initiative and positivity of the provincial leaders and functional departments and branches in organizing investment promotion delegations in Japan, Korea, China, and European countries to invite businesses, especially in areas with strengths such as industrial production using high technology, electronic equipment, automation, and industry supporting and training human resources... Investment promotion programs in countries have achieved many positive results when large corporations and businesses such as Yida Vietnam Co., Ltd.; BYD Electronics Company Limited (BYD Vietnam); Vietnam Sunergy Cell Company Limited (VSUN)... expressed their trust and appreciation for the management of the provincial government and the investment environment. Businesses all said that the decision to invest in Phu Tho was correct and said they would continue to research and invest in expanding production factories in the province’s industrial parks in the near future.

The business trips of provincial leaders have focused on connecting, enhancing working sessions, and direct exchanges with leaders of large organizations and investors. At the same time, they have proactively invited and approached large investors in new and potential markets.

At the meeting with the Ambassador of the French Republic to Vietnam and the delegation of foreign experts of the French Development Agency (AFD), Permanent Vice Chairman of the Provincial People’s Council Duong Hoang Huong stated the opinion: To strengthen the relationship cooperation between Phu Tho province and French partners and localities, requesting the Ambassador and leaders of the French Development Agency to pay attention to inviting French corporations and businesses to research and understand the market, find seek investment opportunities in the province’s industrial parks and invest in infrastructure construction in cultural - tourism development projects at Ao Chau Dam tourist area, Xuan Son National Park... Create conditions for tea production and export enterprises in Phu Tho province to access the French market in general and Caen city in particular, organize investment and trade promotion conferences with the participation of businesses from both sides to seek new, effective and practical investment opportunities.

Phu Ha Industrial Park, Phu Tho town, prepares clean premises to attract investors.

In the past 3 years, the province has attracted 478 private investment projects (DDI), with a registered capital of VND 56.9 trillion, 78 foreign direct investment projects (FDI), with a registered capital estimated at USD 2,126 million. The average scale of a DDI project is over VND 188 billion, an increase of VND 27.7 billion. The average size of a FDI project is nearly USD 60 million, an increase of USD 50.4 million compared to the previous period. Many large investors from Korea, China, Japan, Singapore, America, India... with investment fields such as electronic components, textile industry, packaging production, plastic beads, and processing food transformation...

At the conference to promote investment and develop logistics services in Phu Tho province held in March 2024, Mr. Nguyen Anh Son, Director of the Import-Export Department, Ministry of Industry and Trade also assessed the potential, With the advantage of geo-economic location and rich human resources with basic training, Phu Tho converges many unique conditions to develop into a growth pole of the potential driving force region of Bac Giang-Thai Nguyen-Phu Tho, the center connecting economic and trade between Vietnam and China and ASEAN.

Attracting strategic, potential and reputable projects and investors to invest in the province has positively contributed to the province’s economic development. At the same time, it contributes to creating jobs, increasing income for workers, increasing state budget revenue, promoting economic restructuring, innovating growth models and improving the quality of the country’s investment environment.

Thanh Tra