Phu Tho: When the Investment Environment is More Than Just an Advantage

Recognizing that a transparent, stable, and friendly investment environment is not only an advantage but a prerequisite for sustainable development, Phu Tho province has persistently pursued administrative reform and partnered with enterprises to enhance its competitiveness. These efforts have created a new magnet for domestic and foreign investors, steering the province toward its goal of becoming a regional hub for industry, trade, logistics, tourism, and education in the Northern Midlands and Mountains by 2030.

Song Lo II Industrial Park (Song Lo Commune) is accelerating land clearance to welcome new investors.

In the face of intensifying competition for investment among localities, Phu Tho clearly understands that geographical location or industrial land funds only truly flourish when built upon a foundation of transparency and stability. Consequently, improving the business climate has become a consistent mission in the province’s economic strategy.

Impressive Results and Investor Confidence Recent outcomes demonstrate the clear effectiveness of this direction. In 2025, Phu Tho attracted approximately 1.51 billion USD in Foreign Direct Investment (FDI), reaching 143% of its target—a 64% increase year-over-year and the highest level in the province’s history. Notably, the capital structure is well-balanced, with 0.74 billion USD in new registrations and 0.77 billion USD in expanded capital from existing projects, reflecting growing investor confidence in the local business environment.

Alongside FDI, domestic investment has surged, with registered capital reaching hundreds of trillions of VND in 2025, several times higher than the previous year.

Reform as the Foundation Behind these impressive figures lies a persistent reform process. The province has streamlined administrative procedures, significantly reducing processing times for businesses. Through the “electronic one-stop-shop” system, handling times have been cut by approximately 40%.

Phu Tho also prioritizes supporting businesses from the initial site survey to project implementation. Local authorities maintain regular dialogues with enterprises to promptly resolve bottlenecks in land, infrastructure, labor, and legal procedures, operating under the philosophy: "The success of the enterprise is the success of the province."

A Shift Toward Quality and Sustainability Phu Tho is actively restructuring its investment attraction strategy toward selectivity, prioritizing quality and added value. Instead of chasing quantity, the province focuses on high-tech projects, supporting industries, digital technology, new materials, and environmentally friendly sectors. This shift is designed to lead the economic restructuring process and promote long-term sustainable growth.

Ba Thien II Industrial Park (Binh Tuyen Commune) is developed with a green, clean, and modern design to attract strategic investors.

The industrial park (IP) system is being developed synchronously. Many IPs, such as Thuy Van, Khai Quang, and Phu Ha, have attracted major production projects. Notably, the Phu Ha Industrial Park alone has attracted 32 secondary projects with a total investment of over 1.3 billion USD, creating jobs for more than 36,000 workers.

From “Attracting Investment” to “Development Partnership” The province aims to move beyond merely attracting capital to forming production chains between FDI and domestic enterprises. By enhancing localization rates and the global supply chain participation of local firms, Phu Tho is transitioning its mindset from “attracting investment” to "development partnership."

Mr. Hoang Long Bien, Head of the Provincial Industrial Zones Management Board, emphasized: "In recent years, Phu Tho’s industrial parks have not only expanded in scale but have also progressively improved infrastructure quality and the investment climate, thereby enhancing production efficiency and attractiveness to investors."

Future Vision: A Regional Growth Pole According to the development orientation toward 2030, Phu Tho strives to become a key growth pole connecting the Northwest region with the Capital Region. To realize this, the province will continue to focus on infrastructure development, high-quality human resources, and digital transformation in state management.

In the current development landscape, the investment environment in Phu Tho is no longer just a simple competitive advantage—it is the bedrock of a long-term strategy. When an environment is built on transparency, stability, and friendliness, capital will continue to flow, creating new momentum for economic growth and improving the quality of life for its citizens.

Quang Nam