Phu Tho – A bright spot on Vietnam’s FDI attraction map
WVR - With an open investment environment, modern infrastructure, and abundant labour resources, Phu Tho emerges as a bright spot on Vietnam's foreign direct investment (FDI) attraction map.
Latest
 |
| Ba Thien 2 Industrial Park, Phu Tho Province. (Photo: Thanh Nga) |
New thinking in investment attraction policies
With its strategic location and expansive development space post-merger, Phu Tho is striving to change its approach, creating an open investment environment to welcome waves of both domestic and foreign capital, aiming for the development of high-tech industries, green industries, and high-quality service-tourism.
To attract FDI, since the beginning of the year, the province has organized numerous foreign investment promotion delegations; hosted and worked with many businesses and investors from countries and territories such as Japan, Republic of Korea, Taiwan (China), China, Thailand, Germany, Switzerland, and India. They have compiled various investment promotion materials to advertise the environment, policies, potential, and investment opportunities in the province and to connect investments.
Investment promotion activities not only focus on traditional markets like Japan and Republic of Korea but also shift towards potential markets such as Europe, the US, Australia, and countries that are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA).
The province is always attentive to on-site investment promotion by enhancing administrative reforms, promptly identifying and resolving difficulties and obstacles for investors and businesses to spread the attractiveness of the province's investment environment.
Phu Tho has issued an FDI attraction strategy for the 2025-2030 period, focusing on five main directions: prioritizing high-tech and green transition projects, limiting energy-intensive or polluting projects; reducing administrative procedure resolution time by 40% through the "FDI Portal" electronic one-stop platform; establishing the Mid-Region FDI Investor Support Centre to help businesses access local land, credit, and workforce; strengthening regional linkages, especially the Hanoi-Phu Tho-Yen Bai-Lao Cai axis to promote the role of the "Western Capital Industrial Satellite Region"; encouraging the formation of localized value chains, connecting FDI enterprises with Vietnamese businesses in the supply chain.
Chairman of Phu Tho Provincial People's Committee Tran Duy Dong affirmed: “The province always focuses on industrial development in its long-term development strategy. Phu Tho prioritizes and focuses on developing high-tech industrial parks to attract investment in emerging industries with high added value and environmental friendliness.”
Alongside investment attraction policies, post-merger Phu Tho has restructured the planning of 12 industrial parks, integrating the technical infrastructure of Phu Ham, Thuy Van, Khai Quang, and Lac Thinh, with a total area of over 3,500 hectares. It is expected that by 2026, these areas will have synchronized infrastructure: electricity, water, internal traffic, telecommunications, and wastewater treatment meeting international standards.
Additionally, the Hoa Binh-Vinh Phuc expressway project (a new axis cutting across Phu Tho) is expected to reduce logistics costs by 40%, directly connecting with Dình Vu Port (Hai Phong) and Noi Bai Airport.
 |
| A delegation from Phu Tho Province led by Member of the Provincial Party Standing Committee, Vice Chairman of the Provincial People's Committee Vu Viet Van, visited and worked with the Vietnamese Consulate General in Sydney on October 23, 2025. |
Notably, the Viet Tri-Lam Thao Logistics Center commenced construction at the beginning of 2025 with a total investment of 6,000 billion VND, including FDI from CJ Logistics Group (Republic of Korea). This is the first regional logistics project in the North outside of Hanoi and Bac Ninh.
Thanks to these relentless efforts, in the first nine months of 2025, Phu Tho witnessed a strong breakthrough in FDI inflows. The province attracted an estimated 912.5 million USD in FDI, a 39% increase compared to the same period; over 4,600 businesses registered for new establishment and resumed operations.
In the past nine months, 36 projects have gone into production and business, including 29 FDI projects, contributing positively to local economic growth. Currently, there are 668 secondary projects operating in the province's industrial parks, accounting for 82% of the total investment projects.
Many enterprises from the US, Republic of Korea, Japan, Singapore, and European countries are actively investing in Phu Tho. Not only transferring technology and training skills for the workforce, but these enterprises also deeply engage in the global production network and value chain. Annually, these businesses contribute significantly to the province's budget and create tens of thousands of stable jobs.
Commenting on Phu Tho's potential, Mr. Kenta Kawanabe, General Director of Thang Long Vinh Phuc Industrial Park Co., Ltd., noted that the provincial leadership proactively supported from the early days, helping the project proceed on schedule.
“As of now, we have 46 investors renting land and factories with an area of 147.1 hectares, accounting for about 91%, mainly from Japan and some from Taiwan (China), Hong Kong (China),” Mr. Kenta Kawanabe said.
Determination to create an attractive investment environment
In 2026, Phu Tho aims to develop high-tech industries and resort tourism. The province targets attracting 1.1 billion USD in new FDI by 2026. The focus is on high-tech industries, green industries, semiconductors, clean energy, supporting industries, and high-end automotive products.
Additionally, the province promotes investment in tourism-services with major projects like the Ao Chau Lagoon Ecotourism Area, Ngoi Hoa, Dam Vac Lake, linking the development of Tay Thien-Tam Dao, Dai Lai-Ngoc Thanh, Viet Tri-Thanh Thuy tourism to build Phu Tho into a leading resort destination with an international brand.
 |
| Many enterprises from the US, Republic of Korea, Japan, Singapore, and European countries are actively investing in Phu Tho. (Source: VGP) |
The province is determined to create an attractive investment environment. To realize this goal, the Phu Tho Provincial People's Committee has tasked the Investment Promotion and Business Support Centre with focusing on market research, building a list of priority projects for the 2026-2030 period; regularly engaging in dialogue with businesses, promptly resolving issues, and building investor confidence.
Investment promotion is linked with digital economy development, green economy, promoting innovation, digital transformation, and strong application of science and technology; creating connections and spreading between the FDI sector and the domestic economy to promote private economic development as the most important driving force, deeply and effectively participating in the global value chain.
Simultaneously, it promotes the contribution of FDI projects to socio-economic development, realizing the goal of double-digit growth for the 2026-2030 period; aligned with planning, socio-economic development strategies, ensuring compatibility with administrative boundary adjustments and the organization of two-level local government.
Mr. Hoang Long Bien, Head of the Phu Tho Provincial Industrial Parks Management Board, affirmed: “The province always cares and provides the most favorable conditions to attract FDI, contributing to the province's economic development. Phu Tho is always ready to welcome corporations and businesses to invest to mutually benefit and contribute to building a sustainable and prosperous economy.”
With a clear roadmap and strong determination, Phu Tho is affirming itself as a "fertile land" for investment, a bright spot on Vietnam's FDI map.
