Phu Tho has great potential to become a supporting industry hub: Chairman of Thai Business Association in Vietnam
WVR - With advantages in location, cost, and infrastructure, Phu Tho is gradually meeting the conditions to become a new industrial, logistics, and service centre in the North, while also becoming an attractive destination for Thai businesses in the near future.
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| Mr. Praween Wirotpan, Chairman of the Thai Business Association in Vietnam (ThaiCham). (Source: ThaiCham) |
The "Thai Connect in Phu Tho 2026" program, a large-scale foreign affairs, investment promotion, and cultural exchange event, takes place over two days, from June 17-18. On this occasion, Mr. Praween Wirotpan, Chairman of the Thai Business Association in Vietnam (ThaiCham), shared with The World and Vietnam Report about the potential for cooperation between Thailand and Vietnamese localities, including Phu Tho province.
How do you assess the cooperation between Vietnamese and Thai localities in recent times?
In recent years, cooperation between Vietnamese and Thai localities has seen many positive developments through Memorandums of Understanding (MoUs), sister province relationships, and long-term cooperation programs.
According to information from the Vietnamese Embassy in Thailand, there are currently about 19 pairs of localities that have established sister province or official cooperation relationships. Some notable sister province models include Quang Tri with Ubon Ratchathani and Mukdahan; Da Nang with Khon Kaen; Kien Giang with Chanthaburi; Long An and Ca Mau with Trat.
Cooperation agreements between provinces and cities not only enhance economic exchanges but also lay the foundation for businesses from both countries to connect directly, participate more deeply in the ASEAN supply chain, and effectively exploit economic corridors like the East-West Economic Corridor (EWEC).
On the Vietnamese side, many localities are also very proactive in investment promotion, creating favorable conditions for Thai businesses to explore cooperation opportunities and implement projects. Recently, ThaiCham has also signed MoUs with several localities such as Quang Tri and Lao Cai to promote investment promotion activities and advertise the investment environment of these provinces to the Thai business community and investors.
However, it is also necessary to objectively recognize that local-level cooperation is currently mainly focused on major economic centres such as Hanoi and Ho Chi Minh City or some strategically located localities in regional connectivity. Meanwhile, many potential-rich localities like Phu Tho still lack sufficient mechanisms for connection or equivalent cooperation relationships with Thai partners.
This is a gap that needs attention and gradual narrowing in the coming period to further expand the cooperation space between the two countries.
In the context of ASEAN promoting regional supply chain linkages, how can localities in Vietnam like Phu Tho play a role in the production and logistics network connecting Vietnam and Thailand?
When mentioning the ASEAN supply chain, many often think of major economic centres like Hanoi or Ho Chi Minh City. However, we believe that it is the intermediary localities that create added value through production, processing, and logistics. From this perspective, Phu Tho can become a strategic link in the network connecting Vietnam, Thailand, and the ASEAN region.
Phu Tho has the potential to develop into a supportive industrial hub with advantages in location, land resources, and competitive costs; it is a domestic logistics center connecting Hanoi, northern provinces, and the ASEAN market; and it is a suitable area for developing agricultural and food processing thanks to abundant raw materials and the ability to cooperate with Thai businesses experienced in this field.
What we highly appreciate is the vision of the provincial leadership in orienting Phu Tho to become an industrial, service, tourism, and logistics center in the region. This is a direction that aligns with the development trend of modern supply chains and will be even more effective with stronger support from the international business community, including Thai investors.
According to the Association, what are the standout advantages of Phu Tho that can attract Thai businesses to seek investment opportunities, cooperate, and participate more deeply in the regional supply chain?
Currently, Thai businesses are implementing 15 projects in Phu Tho with a total investment of over 400 million USD, mainly in the fields of industrial park infrastructure and construction materials production. This demonstrates the growing confidence of Thai investors in the local investment environment.
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| A corner of the administrative centre of Phu Tho province. (File photo) |
In our view, Phu Tho's appeal comes from very clear advantages: a market size of over 4 million people after consolidation, a favourable connection location with Hanoi, northern provinces, ASEAN countries, and China; competitive investment costs, ample industrial land for development, and a plentiful workforce to meet production demands.
Additionally, Phu Tho's push for investment in transportation infrastructure, industrial parks, and logistics is opening up many new opportunities for investors. The investment by Thailand's Amata Group in an industrial park in Phu Tho at the beginning of 2026 is also a positive signal, affirming the long-term development potential of the locality.
We believe that with advantages in location, cost, and infrastructure, Phu Tho is gradually meeting the conditions to become a new industrial, logistics, and service center in northern Vietnam, while also becoming an attractive destination for Thai businesses in the near future.
Besides trade and investment, what are the areas with much room for Vietnamese localities in general and Phu Tho in particular to enhance cooperation with Thai partners, such as vocational education, tourism, culture, or human resource development, sir?
Besides trade and investment, in our opinion, two areas with much room for cooperation between Vietnamese localities in general, Phu Tho in particular, and Thai partners are digital transformation - green economy and tourism.
Regarding digital transformation and the green economy, Phu Tho has a green development orientation with many similarities to the BCG model (Bioeconomy - Circular Economy - Green Economy) that Thai businesses are pursuing.
With advantages in land resources, agricultural and forestry raw materials, infrastructure being invested in, and a determination for digital transformation, Phu Tho has the potential to attract Thai businesses in the fields of renewable energy, rooftop solar power, circular economy, waste treatment, and green technology.
In terms of tourism, Phu Tho possesses unique cultural values with the Hung Kings Temple Historical Site, the Worship of Hung Kings belief, and Xoan Singing recognized by UNESCO. This is a favourable foundation for developing cultural-spiritual tourism combined with relaxation, suitable for the needs of Thai tourists. Meanwhile, Thai businesses have extensive experience in developing high-quality resorts and tourism services, opening up cooperation opportunities to build distinctive and sustainable tourism products for the locality.
What specific connections and outcomes does ThaiCham expect the "Thai Connect in Phu Tho 2026" program to create between Thai businesses and partners in Vietnam in general and Phu Tho in particular?
The "Thai Connect in Phu Tho 2026" program takes place in the context of Vietnam-Thailand relations entering the most extensive cooperation phase ever. The two countries are aiming to raise bilateral trade turnover to 25 billion USD by 2026, while celebrating 50 years of diplomatic relations, a milestone of special significance in the relationship between the two nations.
We hope it will not only be a simple investment promotion event but also become a substantial connection platform between the Thai business community and local governments and businesses.
This is an opportunity for Thai investors to gain a deeper understanding of the potential, development orientation, and priority investment attraction areas of Phu Tho; while helping local businesses directly connect with partners, investors, and the Thai business network operating in Vietnam and the ASEAN region.
In the long run, we hope more Thai businesses will choose Phu Tho as a destination to expand production, business activities, and participate more deeply in the regional supply chain.
I believe that if maintained regularly and with follow-up activities after the event, Thai Connect will become an important bridge to bring the image, potential, and investment opportunities of localities closer to the Thai business community, while also contributing to deepening the Comprehensive Strategic Partnership between Vietnam and Thailand in the new development phase.
Thank you very much!
