Unlocking Potentials, Creating a New Industrial Growth Pole

The merger of administrative boundaries between the three provinces of Vinh Phuc, Phu Tho, and Hoa Binh is not merely an expansion of developmental space, but a strategic turning point in regional planning. From this foundation, Phu Tho is gradually forming a new industrial driving force, attracting large investment flows and aiming for a green, sustainable growth model in the new era.

Thang Long Vinh Phuc Industrial Park – An attractive destination for investors.

Open Space and Vast Potentials

Post-merger, Phu Tho Province boasts 58 planned industrial parks (IPs) covering a total area of over 14,055 hectares. This constitutes a significant advantage—a “clean land fund” that is rare among localities as industrial land nationwide becomes increasingly scarce. Currently, 17 IPs are in stable operation, creating a dynamic industrial belt stretching across key economic zones.

The merger has successfully consolidated the industrial quintessence of three historic regions. From the former Vinh Phuc—traditionally the “industrial capital” of Northern Vietnam—Phu Tho inherits a network of modern Industrial Parks (IPs) such as Khai Quang, Binh Xuyen I & II, Thang Long Vinh Phuc, and Ba Thien I & II. These are premier destinations for high-quality FDI, spearheading global value chains in electronic components and international automotive and motorcycle assembly.

From the former Hoa Binh, the province integrates Luong Son IP, the Left Bank of the Da River IP, and several developing projects, establishing a robust logistics corridor and a solid foundation for new materials production. Meanwhile, the legacy IPs of Phu Tho, including Thuy Van, Trung Ha, Phu Ha, and Cam Khe, continue to serve as nuclear hubs, linking raw material regions and creating a seamless inter-regional economic synergy.

Phu Tho’s industrial appeal extends beyond its vast spatial potential; it is rooted in the deep-seated confidence of international investors. Clear evidence lies in the province’s remarkable performance in 2025 despite global economic volatility: 75 new projects were granted licenses and 101 existing projects increased their capital. Notably, the FDI sector alone attracted over 1.063 billion USD, bringing the province’s total to 857 active projects within IPs, with a cumulative investment capital of nearly 10 billion USD.

Enterprises within these industrial parks currently provide employment for approximately 235,000 workers, with an average monthly income of 8.9 million VND.

Innovative Mindsets: Prioritizing the Green Path

For the 2026–2030 period, Phu Tho has redefined industrial development, moving beyond mere scale to focus on a "qualitative revolution." The province is committed to a mindset shift that prioritizes a sustainable green path. With the ambition of becoming a green industrial hub and a knowledge-economy center of the Northern Midlands and Mountains, the province is channeling all resources into realizing post-merger strategic plans, deeply integrated with regional connectivity and the smart manufacturing ecosystems of the Industry 4.0 era.

This spirit of innovation is manifested in a resolute “No” to projects posing environmental risks. Instead, the province is clearing a broad path for high-tech sectors, precision engineering, semiconductor devices, and renewable energy.

To facilitate a spectacular leap, Phu Tho is launching a comprehensive reform “campaign” to optimize the investment climate and establish administrative “green lanes” that simplify procedures for businesses. Moving beyond traditional invitations based on existing assets, the province is affirming its role as a strategic partner through preferential capital policies, 5G telecommunications support, and, crucially, solutions for high-quality human resources.

The tight integration between vocational training institutions and the practical demands of major tech corporations remains the “key” to supplying the workforce for large-scale future projects.

The milestones achieved in 2025 provide a sturdy foundation for Phu Tho to accelerate toward the socio-economic targets set by the 1st Provincial Party Congress Resolution. With a vision to become a vital growth pole of the Capital Region by 2030 and a centrally-run city by 2045, the “Ancestral Land” today demonstrates a powerful ambition for transformation.

The harmony between the Party’s vision, the people’s will, and the consensus of the business community serves as the immense internal strength for Phu Tho. It is not only a sanctuary for millennial cultural values but is truly becoming a new symbol of modernity, dynamism, and sustainable development in the nation’s new era.

Tran Tinh