Phu Tho Province Promotes Investment in the Russian Federation: Commitment to a Transparent Investment Environment, Accompanying Businesses

As part of the working trip, investment promotion, and practical research in Russia, Norway, and Denmark, on the afternoon of September 1 (Moscow time), a delegation from Phu Tho Province led by Comrade Nguyen Manh Son, Deputy Secretary of the Provincial Party Committee, held an Investment Promotion Conference in Moscow, Russian Federation. The event affirmed the province’s determination to proactively integrate, expand the space for foreign economic development, and attract major Russian corporations and enterprises to invest in the province.

Attending the conference were comrades: Dang Minh Khoi, Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam to the Russian Federation; Nguyen Trung Kien, Member of the Standing Committee of the Provincial Party Committee and Permanent Vice Chairman of the Provincial People’s Council; Vi Manh Hung, Member of the Standing Committee of the Provincial Party Committee and Director of Phu Tho Newspaper, Radio and Television; Quach Tat Liem, Member of the Provincial Party Committee and Vice Chairman of the Provincial People’s Committee; representatives of provincial departments, boards, and branches, along with over 100 delegates representing diplomatic agencies, business associations, and major investors in the Russian Federation.

Deputy Secretary of the Provincial Party Committee Nguyen Manh Son speaks at the conference.

Delivering the opening speech at the conference, Deputy Secretary of the Provincial Party Committee Nguyen Manh Son emphasized: The traditional friendly relationship and comprehensive strategic partnership between Vietnam and the Russian Federation serve as a solid foundation for localities and businesses of both countries to step up practical and effective economic cooperation.

Providing an overview of the province’s potential and advantages, he affirmed that Phu Tho is rising strongly with a 2025 growth rate reaching 10.52% (ranking 4th nationally), alongside a transportation infrastructure system and industrial zones that are comprehensively invested in and developed. The province identifies international investment resources, particularly from Russian enterprises, as an important driving force to realize fast and sustainable development goals.

With the message “The success of businesses is the success of the province,” the Deputy Secretary of the Provincial Party Committee respectfully invited Russian investors to explore and cooperate in high-tech industries, supporting industries, and manufacturing; logistics infrastructure, modern trade, and services; as well as eco-tourism, resort, and healthcare services. At the same time, he committed that Phu Tho will always create a transparent, equal investment environment, roll out the red carpet, and accompany investors over the long term.

Delegates and Russian enterprises attend the Phu Tho Investment Promotion Conference in the Russian Federation.

At the conference, delegates watched a documentary film introducing the province’s socio-economic potential and strengths. Located on the Kunming - Lao Cai - Hanoi - Hai Phong - Quang Ninh economic corridor, Phu Tho holds a strategic location directly connecting with the capital Hanoi, Noi Bai International Airport, and Hai Phong seaport. To welcome new investment waves, the province has planned 58 industrial zones (28 zones already operational over an area of more than 5,832 hectares) and 66 industrial clusters (covering over 3,075 hectares), ready with clean land reserves and synchronized technical infrastructure.

Overview of the conference.

The discussion session took place animatedly with numerous questions from Russian businesses interested in investing in Phu Tho in fields such as industrial park infrastructure, energy, logistics, food processing, healthcare, education, culture, sports... and golf course development.

Vice Chairman of the Provincial People’s Committee Quach Tat Liem directly exchanges and provides clearer information on the investment attraction environment and policies in Phu Tho.

Providing clearer information on incentive policies, Vice Chairman of the Provincial People’s Committee Quach Tat Liem stated: Phu Tho adopts a selective investment attraction orientation, prioritizing high-tech, high value-added, environmentally friendly projects, renewable energy, digital economy, healthcare, and education. Engaging in direct dialogue and addressing questions from Russian investors regarding legal procedures, the Vice Chairman of the Provincial People’s Committee stressed that Phu Tho will apply the highest incentive policy framework as prescribed; accelerate digital transformation, and operate the “Green Lane” mechanism to cut investment licensing times by 50%; while arranging specialized contact points to assist enterprises from survey to production operation phases.

Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Vietnam to the Russian Federation Dang Minh Khoi speaks at the conference.

Speaking at the conference, Ambassador Dang Minh Khoi highly commended Phu Tho Province’s proactive spirit in investment promotion in the Russian market. The Ambassador affirmed that Vietnam’s diplomatic representation in Russia will always act as a solid bridge, accompanying and resolving obstacles, creating the most favorable conditions to materialize cooperation opportunities between Phu Tho Province and Russian partners into concrete projects.

Phu Tho provincial leaders alongside delegates, businesses, and attending partners take a commemorative photo following the Phu Tho Investment Promotion Conference in the Russian Federation.

Delivering closing remarks, Deputy Secretary of the Provincial Party Committee Nguyen Manh Son expressed sincere thanks for the support of the Vietnamese Embassy in Russia and the active participation of the business community. He emphasized that the effectiveness of the conference needs to be reflected in concrete cooperation projects implemented after the event. He requested provincial departments and branches to maintain regular connections, thoroughly remove procedural barriers, and create the most favorable conditions for Russian investors to conduct field surveys and implement projects in the Ancestral Land.

PV