Phu Tho Steadfastly Pursues GRDP Growth Goal of 11% or Higher in 2026

On August 28, 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—chaired a meeting of the Phu Tho Provincial Steering Committee for Macroeconomic Policy Implementation. Attending were Vice Chairmen of the Provincial People’s Committee, members of the Steering Committee, and leaders of relevant departments and sectors.

Chairman of the Provincial People’s Committee Tran Duy Dong chairs the conference.

During the first months of 2026, the Provincial People’s Committee decisively directed socio-economic development tasks. Among these, growth scenarios were flexibly updated every quarter to steadfastly maintain the goal of achieving a full-year GRDP growth of 11% or higher.

As a result, GRDP growth in the first 6 months reached 10.18% (leading the Northern Midland and Mountainous region). Total state budget revenue in the first 8 months was estimated at 43.5 trillion VND (reaching 78% of the central estimate, up 9.8% year-on-year). Capital mobilization reached 340 trillion VND (up 4.39%); outstanding credit debt reached 401 trillion VND (up 8.82%)...

Vice Chairman of the Provincial People’s Committee Phan Trong Tan delivers remarks.

Notably, FDI attraction experienced a breakthrough, reaching over 2.3 billion USD (2.6 times higher than the same period, exceeding the annual plan by 43.6%). The Index of Industrial Production (IIP) rose by 21.8%. Export turnover increased by 61.35%. Total retail sales of goods and consumer service revenue reached 110 trillion VND (up 16.8%). Tourism revenue reached 12.7 trillion VND (up 11%). Employment was secured for more than 50,000 workers (up 30.8%). Fields including education, healthcare, social security, defense and security, and the “Digital Popular Literacy” movement were effectively deployed.

During discussions, delegates focused on clarifying growth drivers, analyzing difficulties and limitations, and proposing key tasks and solutions for the last 4 months of the year.

Accordingly, key targets were determined: striving for state budget revenue in the last 4 months to reach over 14.5 trillion VND (reaching 58 trillion VND for the entire year); expanding credit debt by at least an additional 19 trillion VND to achieve full-year credit growth of 14%; resolving obstacles in site clearance with a determination to disburse 100% of the 2026 public investment capital plan; bringing at least 46 investment projects into operation; attracting 21.4 trillion VND in DDI (Domestic Direct Investment) capital; and newly establishing 1,620 enterprises.

Leaders of departments and sectors speak during the discussion.

Concluding the conference, Chairman of the Provincial People’s Committee Tran Duy Dong emphasized: The results achieved demonstrate that the province’s growth is relatively stable, maintaining double-digit growth targets in Q3/2026.

The Provincial Chairman pointed out: In the industrial sector, 18 out of 22 sub-industries grew. Although the IIP experienced a slight decrease, it remained at a high level (around 21.8%). The primary driver came from the electronic components sector (up nearly 30%). The province’s export scale ranked 3rd nationwide. Agriculture, trade, and services all achieved positive growth... However, determined efforts are needed to strive for full-year credit growth of around 13–15% or 15–16%, ensuring sufficient capital supply and creating momentum for economic sectors.

To proactively understand difficulties and actively support major corporations and enterprises operating in the province, the Provincial Chairman tasked the Department of Industry and Trade with taking the lead and coordinating with departments, boards, sectors, and relevant units to establish an inter-agency working group to meet directly with corporations and enterprises.

The Management Board of Provincial Industrial Zones was assigned to focus on expediting 32 projects that have not yet entered operation to bring them swiftly into service, creating new growth momentum for the final months of the year.

The Provincial Chairman directed the Industry and Trade sector to coordinate and direct the completion of major power projects, transformer stations, and the replacement of new transmission lines, ensuring a stable power source and voltage for high-tech projects.

Regarding the construction and cleaning of the Business Database, the Provincial Chairman requested the Department of Finance to take the lead, coordinating with relevant agencies to urgently finalize software and clean enterprise data.

He noted: The database must be updated regularly, providing comprehensive information on business operations. The Management Board of Provincial Industrial Zones was tasked with coordinating closely to maintain distinct, accurate data on enterprises in industrial parks and export processing zones.

Overview of the conference.

According to the Provincial Chairman’s directives, immediately following the National Day holiday on September 2, the Departments of Finance, Industry and Trade, Construction, and Agriculture and Environment, in coordination with several relevant sectors and units, will begin working with major enterprises.

Through this, authorities will proactively grasp business conditions, evaluate local production capacity as well as economic development conditions. Alongside this, public investment will continue to be strongly accelerated.

The Department of Construction, in coordination with the Office of the Provincial People’s Committee, was instructed to draw up detailed plans to break ground on at least 11 housing and urban development projects (including 9 social housing projects and 2 urban area projects).

The Department of Finance and relevant departments and sectors were urged to expeditiously appraise and quickly process land project procedures to unblock capital flows.

The regional State Bank of Vietnam branch will continue to regulate and concentrate credit capital sources, prioritizing production and business activities of enterprises within the province.

Dinh Vu