Phu Tho mobilizes tens of thousands of billions more for development investment

Chairman of Phu Tho Provincial People’s Committee said that in the last 2 years of the 2024-2025 term, the province strived to mobilize development investment capital of 90-100 trillion VND, focusing on key public investment projects.

Thanks to flexible application of mechanisms and policies and taking advantage of every opportunity, in recent years, Phu Tho province has mobilized large resources for development investment, creating motivation for the local socio-economic development.

According to the Phu Tho Department of Planning and Investment, between 2021 and 2023, the province has mobilized a total development investment capital of 118.7 trillion VND, reaching 74.2% of the target for the whole period. The non-state sector and FDI capital increased significantly from 78.3% in the 2016-2020 period to 80.8% in the 2021-2023 period.

The mobilized capital has created a breakthrough in infrastructure construction; Among them, the highlight is transportation infrastructure; infrastructure of industrial zones and complexes and tourism and commercial infrastructure.

In just 3 years, transportation infrastructure has changed rapidly. Up to 18/20 key traffic routes were deployed quickly, ahead of schedule; Of these, 7/20 projects have been completed or basically completed; Gradually form a synchronous inter-regional transportation network, connecting expressways and national highways, such as Vinh Phu bridge - connecting Vinh Phuc province; Inter-regional traffic road connecting Ho Chi Minh Highway with National Highways 70B and 32C from Phu Tho province to Yen Bai province; Tuyen Quang-Phu Tho Expressway...

Infrastructure of industrial zones and complexes is increasingly being improved. To date, the province has completed the construction and expansion of 7 industrial parks and 21/28 industrial complexes, attracting production and business projects.

In the past 3 years, the province has attracted 478 Diaspora Direct Investment (DDI) projects with a registered capital of 56.9 trillion VND, 78 foreign direct investment (FDI) projects, with an estimated registered capital of 2,126 million USD; The average scale of a DDI project is over 188 billion VND, an increase of 27.7 billion VND, and the average scale of a FDI project is nearly 60 million USD, an increase of 50.4 million USD compared to the previous period.

Many large investors from Korea, China, Japan, Singapore, America, India... in the investment fields such as electronic components, textile industry, packaging and plastic beads production, food processing have “injected capital” in Phu Tho.

With the mobilization and effective use of development investment resources, Phu Tho strives to become the leading developed province in the Northern Midlands and Mountains and has a synchronous and modern economic and social infrastructure system.

Dao An - Manh Hung