Phu Tho Steadfast in 11% Growth Target Amidst Macroeconomic Stability

On the morning of April 23, under the chairmanship of 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 — the Provincial People’s Committee of Phu Tho held a meeting of the Steering Committee for Macroeconomic Policy. The session aimed to evaluate the performance of the first four months of the year and deploy key tasks for the upcoming period.

Chairman Tran Duy Dong delivers the concluding remarks.

The meeting saw the attendance of Vice Chairmen of the Provincial People’s Committee, members of the Provincial Macroeconomic Policy Steering Committee, and leaders of relevant departments.

The report highlighted that despite global economic fluctuations, the province maintained stable growth momentum. Q1/2026 GRDP reached 9.15%, ranking 11th out of 34 provinces and cities nationwide and 3rd in the region. FDI attraction hit a record of over 1.2 billion USD (a sixfold increase year-on-year), focusing on spearhead sectors such as AI, semiconductors, and software.

Total realized investment capital reached 29.7 trillion VND (up 11.6%), while state budget revenue as of April 20 reached 21.89 trillion VND, nearly 38% of the annual estimate. Models such as the “Green Lane” for investment procedures and the “Business Coffee” program continue to be effective, marking a shift in mindset from “management” to “service,” which has bolstered confidence within the business community.

However, the conference also addressed existing barriers, including pressures from rising input costs, fuel prices, and logistics; modest public investment disbursement rates; and a shortage of high-quality human resources. Specifically, inconsistent coordination and data synchronization between departments have at times hindered the overall growth assessment.

An overview of the conference.

Concluding the meeting, Chairman Tran Duy Dong emphasized: The province remains steadfast in its 11% economic growth target for 2026. To achieve this, he demanded heightened accountability from top leaders, affirming that any heads of departments or chairmen of communes and wards who fail to meet requirements or cause administrative stagnation will be replaced immediately.

He ordered a shift from “paper-based governance” to “operational combat”, requiring leaders to master specific monthly and quarterly data for decision-making. Departments must establish working groups to directly resolve “bottlenecks” for individual projects. The primary focus is to accelerate the progress of 36 new public investment projects and 24 FDI and DDI projects scheduled to commence operations in Q2/2026.

The Chairman directed the Department of Finance to closely monitor growth scenarios and advise on tax exemptions or reductions to support businesses. The Department of Industry and Trade must ensure power supply and diversify fuel sources. The Department of Culture, Sports, and Tourism is tasked with meticulously preparing for the 2026 Hung Kings' Festival, leveraging spiritual tourism as a lever to stimulate consumer demand.

He requested all levels to strictly follow the motto “Lean, Compact, Potent, and Efficient,” utilizing public investment and support for tech enterprises as drivers to offset Q1 shortfalls, determined to successfully complete the set growth targets.

During the session, delegates also discussed reports on the progress of land-use fee calculations and land pricing for projects across the province.

Dinh Vu