Strengths in Attracting Investment and Developing Industry

Leveraging its potential, advantages, strategic vision, and decisive actions, the eastern region of Phu Tho (formerly Vinh Phuc province) is increasingly asserting itself as a dynamic, transparent, and sustainable investment destination on Vietnam’s economic map.

In recent years, the eastern region of the province has become a shining example of investment attraction and a successful investment destination for many businesses. To achieve outstanding results in investment attraction and industrial development, the authorities of the former Vinh Phuc province have focused on effective planning, land clearance, completing technical infrastructure and transportation, improving human resources quality, and building flexible, transparent investment mechanisms and policies. Additionally, efforts have been made to increase information dissemination, promote the region’s advantages, and attract investments. A clear testament to the success of this area is the arrival of many large enterprises and corporations, including major players such as Toyota, Honda, Piaggio, and more recently, technology companies from South Korea, Japan, and the United States. Currently, there are 526 active investment projects in industrial zones (IZs) in the eastern region, including 134 domestic projects with a total investment of over 24,300 billion VND and 392 foreign direct investment (FDI) projects totaling more than 7.1 billion USD.

Thang Long Vinh Phuc Industrial Zone - An Attractive Destination for Investors, Both Domestic and Foreign

The success in attracting investment and developing industry in the eastern region not only plays an essential role in the province’s economic growth but also provides jobs for nearly 150,000 local workers, contributing to improving the people’s living standards. From 2020 to 2025, the province’s average economic growth rate is projected at 7.5% per year, higher than the average growth rate of 7% during the period 2016-2020 and the national average of 6.2%. By 2025, the province’s economic size is expected to reach 390 trillion VND, 1.56 times the figure of 2020. The average GRDP per capita in 2025 is estimated to be 105.2 million VND, an increase of 1.48 times compared to 2020.

According to the master plan, the eastern region of the province has 29 industrial zones (IZs) covering a total area of more than 5,489 hectares. To date, 17 IZs have been established and granted investment registration certificates, with a total area of over 3,142 hectares and total registered investment capital exceeding 246 million USD and 17,660 billion VND. As of June 2025, the disbursed infrastructure investment capital for FDI projects in the IZs is more than 130 million USD (accounting for 52.7% of registered capital), and for domestic projects, it is more than 7,329 billion VND (accounting for 41.5% of registered capital). These are significant advantages that allow the eastern region to proactively and readily welcome new investment waves.

In fact, the industrial zones in the eastern region, such as Ba Thien II, Khai Quang, Thang Long Vinh Phuc, continuously expand and upgrade to welcome new investment waves. Sectors such as electronics component manufacturing, automation equipment production, automotive technology, robotics, and AI are gradually replacing traditional industries.

The industrial zones in the eastern region are also oriented towards developing industries associated with smart, green, and sustainable urban planning. New industrial zones are designed following the IZ - urban - service model to attract high-quality human resources and create favorable living and working conditions for experts and workers. At the same time, the region is accelerating the development of research and development (R&D) centers and collaborating with institutes, universities, and FDI enterprises to gradually form an innovation ecosystem, making high-tech industries the backbone of the economy.

Mr. Trinh Van Quang, Director of Project Development at Vina CPK Joint Stock Company, the infrastructure investor for Ba Thien II Industrial Zone, said: "Entering a new phase, businesses are well-prepared to seize new opportunities and maximize the advantages of the newly merged province. Infrastructure investors hope that the new provincial authorities will continue to accompany and support businesses, especially in land compensation and clearance. Vina CPK believes that the new province will provide a transparent, attractive environment with plenty of room for development for infrastructure investors and companies looking to invest in Phu Tho."

Tran Tinh