Phu Tho Promotes Investment with Enterprises in Shanghai, China

On the morning of April 16, within the framework of the Phu Tho Province Investment Promotion Conference held in Shanghai—the leading economic and financial hub of China and the Asia-Pacific region—Mr. Tran Duy Dong, Alternate Member of the Party Central Committee, Deputy Secretary of the Provincial Party Committee, and Chairman of the Provincial People’s Committee, presided over a meeting with representatives from 39 major enterprises and leading corporations in Shanghai.

The event was attended by Mr. Tran Huy Hung, Consul General of Vietnam in Shanghai; representatives of the Shanghai Municipal Government; and leaders of various departments and businesses from Phu Tho Province.

Chairman Tran Duy Dong addresses the conference.

With the theme “Joining Hands to Create – Growing Together,” the conference in Shanghai is a landmark event affirming Phu Tho’s potential, position, and development aspirations following its administrative boundary merger.

Consul General Tran Huy Hung delivers the welcome remarks.

In his opening speech, Chairman Tran Duy Dong emphasized the strategic location of Phu Tho following the merger of Phu Tho, Vinh Phuc, and Hoa Binh provinces (effective July 1, 2025), which created a province spanning over 9,300 km2 with a population of more than 4 million people.

Phu Tho is situated on the Kunming – Lao Cai – Hanoi – Hai Phong – Quang Ninh economic corridor, a vital trade route connecting Southwest China and Northern Vietnam. The province features a diverse ecosystem and 57 planned industrial parks (IPs), including 30 large-scale IPs covering over 5,800 hectares with synchronized infrastructure and “clean” land ready for investors. To date, Phu Tho has attracted 742 FDI projects with a total capital of nearly 14 billion USD, of which China accounts for 180 projects totaling 3.57 billion USD (approximately 26% of total FDI).

Prominent projects include the BYD Vietnam electronics plant (411 million USD investment), while major groups such as the Pacific Construction Group (CPCG), JD Group, and Geely are currently conducting investment surveys.

Chairman Tran Duy Dong and Consul General Tran Huy Hung preside over the discussion session.

Chairman Tran Duy Dong affirmed the province’s determination to develop based on innovation, science, technology, and digital transformation. The goal is for Phu Tho to become a hub for industry, trade, logistics, healthcare, and high-quality training by 2030, and a modern, prosperous urban area with a high quality of life by 2045.

To support investors, Phu Tho commits to implementing “Three Strategic Breakthroughs”, which include: building an upright, potent, and effective government that consistently accompanies investors; ensuring a safe and stable environment; and developing human resources, particularly a high-quality workforce.

Simultaneously, the province will finalize a synchronized and modern socio-economic infrastructure while applying the highest investment incentives in accordance with Vietnamese law.

Overview of the conference.

Under the motto “The success of businesses is the success of the province,” Phu Tho prioritizes attracting investment into high-tech and manufacturing sectors, such as: electronics, semiconductors, supporting industries, precision mechanics, automobiles, electric motorcycles, medical equipment, pharmaceuticals, new materials, and renewable energy. Simultaneously, the province encourages investment in logistics, high-tech industrial parks, specialized industrial zones, and R&D centers — dedicated hubs for research, process improvement, and product innovation.

Mr. Yan Jiehe, Founder of Pacific Construction Group and Atlantic Construction Group, and Chairman of the Zhuangyan Research Institute, praised Phu Tho’s investment environment on behalf of the attending enterprises.

Chairman Dong emphasized that attracting investment into these sectors is pivotal for shifting the province’s economic model from low-value assembly to high-value smart manufacturing. This is a decisive factor in realizing strategic breakthroughs: attracting experts, fostering a high-quality workforce, and driving sustainable growth based on science and technology.

Mr. Bui Hong Do, Acting Director of the Phu Tho Investment Promotion and Business Support Center, and Mr. Zhang Xiang, Vice President of Pacific Construction Group, sign the Memorandum of Understanding (MOU).

At the conference, the Phu Tho Investment Promotion and Business Support Center and Pacific Construction Group signed a Memorandum of Understanding (MOU). The two sides agreed to collaborate on surveying and researching key infrastructure projects, including transport, urban development, irrigation, and industrial parks using modern investment models.

Pacific Construction Group expressed its desire for long-term investment in Phu Tho, committing to a projected investment scale of no less than 3 billion USD over the next three years, while assisting the province in calling for further international investors.

Chairman of the Provincial People’s Committee Tran Duy Dong and delegates attend the conference.

In his closing remarks, Chairman Tran Duy Dong expressed his deep gratitude to the delegates and highly commended the signing of the Memorandum of Understanding (MOU) between the Phu Tho Investment Promotion and Business Support Center and the Pacific Construction Group.

Amidst the shift in global supply chains, Phu Tho Province affirms that it has fully prepared the necessary infrastructure, human resources, and investment environment to become a strategic destination for businesses from Shanghai in particular, and China in general. The Chairman extended a respectful invitation to enterprises to come to Phu Tho to "Join Hands to Create – Grow Together."

Chairman Tran Duy Dong and Mr. Yan Jiehe – Founder of Pacific Construction Group and Atlantic Construction Group, and Chairman of the Zhuangyan Research Institute – preside over the bilateral talks between the Phu Tho delegation and Pacific Construction Group.

Chairman Tran Duy Dong presents a symbolic model of Phu Tho’s national treasure — the Glazed Ceramic Tower of Tro Pagoda — to Mr. Yan Jiehe...

... and to the Consul General of Vietnam in Shanghai, Mr. Tran Huy Hung.

Mr. Yan Jiehe presents a souvenir to Chairman Tran Duy Dong.

Following the official conference, leaders of the Phu Tho Provincial People’s Committee held a bilateral talk with Pacific Construction Group to concretize the contents of the MOU. The discussion focused on cooperation opportunities in transport infrastructure (roads and railways) and industrial park infrastructure, as well as coordinating Investor Relations (IR) activities to attract further foreign direct investment (FDI) to the province.

Overview of the talks between Phu Tho provincial leaders and Pacific Construction Group.

The bilateral talk with Pacific Construction Group, held immediately after the investment promotion conference with 39 major Shanghai enterprises, serves as concrete evidence of the increasingly deep, practical, and effective partnership between Vietnam and China. It also highlights Phu Tho’s orientation toward accelerating integration and strengthening international investment.

Leaders of Phu Tho Province, the Consul General of Vietnam in Shanghai, and leaders of Pacific Construction Group take a commemorative photo.

The 2026 Investment Promotion Conference in Shanghai is expected to open numerous cooperation opportunities, making Phu Tho an attractive destination for both domestic and foreign investors. This event creates significant momentum for comprehensive and sustainable economic growth for the province in the near future.

P.V