Phu Tho Strengthens Cooperation with Japanese Enterprises

On the afternoon of January 16, Mr. Tran Duy Dong – Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People’s Committee (PPC) – received and worked with Hai Phong Investment Trade and Construction Co., Ltd., Komeri Group, and Wago Group (Japan).

Chairman Tran Duy Dong speaking at the working session.

During the session, Chairman Tran Duy Dong expressed his pleasure in welcoming the Japanese partners to research and explore investment opportunities in Phu Tho province.

The Chairman provided a general overview of Phu Tho’s potential and strengths following its administrative merger. In 2025, the province’s GRDP was estimated at 412.4 trillion VND (approximately 15 billion USD), ranking 6th out of 34 provinces and cities. The GRDP growth rate reached 10.52%, leading the Northern Midlands and Mountains region and ranking 4th nationwide.

In the trade and service sector, the total retail sales and consumer service revenue for 2025 were estimated at 198,940.2 billion VND (about 7 billion USD), a 15.33% increase over 2024. Retail revenue accounted for 78.7%; accommodation and catering services for 9.8%; and travel and other services for 11.5%.

In 2025, Phu Tho attracted over 1.5 billion USD in FDI (up 64% from 2024) and 260 trillion VND in DDI (a 3.6-fold increase over 2024). Japan is one of the leading investors with 76 projects and a total registered capital of over 2 billion USD. Japanese enterprises focus primarily on supporting industries for automobiles and motorcycles, spare parts manufacturing, electrical and electronic support, textiles, and other industrial sectors.

Chairman Tran Duy Dong presents a souvenir to Wago Group.

Representing the Japanese investors, Mr. Sasage Yuichiro – Chairman and CEO of Komeri Group – sincerely thanked the Chairman and provincial leaders for their warm reception.

Expressing his impression of Phu Tho’s potential, Mr. Sasage Yuichiro provided brief information about the investors. Komeri Group, established in 1952, operates the largest “Home Center” retail chains in Japan, with over 1,220 stores nationwide. The Group specializes in lifestyle products, home renovation, building materials, agriculture, DIY, and gardening, with an annual revenue of approximately 379 billion Yen (about 3 billion USD).

Wago Group is a major Japanese corporation prominent in high-tech agriculture, post-harvest processing, and agri-tourism. Wago is currently a strategic foreign partner of the Vietnamese Ministry of Agriculture and Environment in research and technology transfer.

Hai Phong Investment Trade and Construction Co., Ltd. is a multi-sector enterprise focusing on trade, services, education, and investment promotion, with its headquarters in Hanoi and a branch in Japan.

During the meeting, the investors expressed their desire to seek opportunities to expand investment in Vietnam and specifically Phu Tho in the fields of retail, high-tech agriculture combined with experiential activities, and eco-tourism.

Supporting and highly appreciating the proposals, Chairman Tran Duy Dong assigned relevant departments to guide the investors in surveying and finding suitable locations, with a report due to the PPC within January 2026. He committed to providing maximum favorable conditions regarding investment procedures and preferential policies.

The Chairman designated the Provincial Investment Promotion and Business Support Center as the primary focal point to coordinate between local agencies and the investors to implement the next steps of investment in the shortest possible time.

Duc Anh