Phu Tho Reports Strong Growth, Shifting Focus to Strategic Projects

With Gross Regional Domestic Product (GRDP) growth of 10.22% over the first nine months, foreign direct investment (FDI) attraction exceeding targets, and public investment disbursement higher than the national average, Phu Tho is emerging as a leading province in the midland and northern mountainous region. During a recent meeting with provincial leaders, Deputy Prime Minister Bui Thanh Son urged local authorities to capitalize on the new potential following administrative reorganization, accelerate key projects, and define the development trajectory for 2025 to 2030.

Outstanding results

According to the Government Office’s announcement on November 24, 2025, Phu Tho’s socio-economic situation remained stable despite numerous challenges and achieved several notable results in the first ten months. GRDP for the first nine months grew 10.22%, surpassing planned scenarios and ranking fourth nationwide. Industrial production increased 26.94%, reaffirming the role of electronics, processing and manufacturing, and supporting industries as key growth drivers. The trade and service sector remained active, with total retail sales and consumer service revenue rising 14.38%, reaching nearly 89% of the annual target.

State budget revenue over the ten months reached VND 47,500 billion, exceeding both central and local government estimates. Public investment disbursement reached 72.4%, significantly higher than the national average, demonstrating the province’s strong project implementation capacity.

A standout achievement is investment attraction. Foreign direct investment (FDI) reached US$1.219 billion, up 84%, exceeding the 2025 full-year target. Domestic investment (DDI) reached VND 61,300 billion, nearly three times the amount recorded in the same period last year. Many international investors continued expanding in the province’s major industrial parks.

Tourism recovered strongly, reaching 86.7% of the annual target. Culture, education, health care, and social welfare received sufficient attention, while national defense and security remained firmly ensured. After four months of implementing the two-tier governance model, the administrative apparatus stabilized and operated efficiently.

Speeding up key projects to power the new development phase

Deputy Prime Minister Bui Thanh Son asked Phu Tho to further identify its unique potentials and competitive advantages after the administrative restructuring, then quickly review and adjust planning and overall development directions.

Based on the resolution of the provincial Party Congress for the 2025-2030 term, the province needs to soon issue breakthrough action plans, policy mechanisms, and priority initiatives. The goals are to exceed the government’s 2025 growth target of 10%, increase budget revenue, and fully disburse planned public investment capital.

At the same time, Phu Tho must accelerate administrative reforms, especially in land, investment, and construction procedures to create more favorable conditions for businesses. The development of a new policy and legal framework should be synchronized with central policies to maximize the benefits of the new administrative unit model. At the same time, the province needs to strongly promote science, technology, innovation, and digital transformation. This will build the foundations for a digital economy, digital society, and digital government, creating new competitive advantages for the province.

A key requirement is to fast-track major projects in transportation infrastructure, digital infrastructure, industrial parks and clusters, energy and logistics projects that support investment attraction. The province should closely coordinate with ministries and central agencies to expedite land clearance and ensure timely implementation of centrally assigned projects.

Phu Tho is also asked to prepare a mid-term public investment plan for 2026-2030 with a focus on effectiveness and prioritization of infrastructure, especially interregional connectivity and development of high-quality human resources.

Regarding the newly adopted two-tier government model, the province needs to continue reviewing its administrative structure to ensure smooth operations and alignment with new requirements. Training and capacity building for commune-level officials must be proactively resourced and conducted regularly to meet practical needs. In addition, infrastructure and facilities for commune-level government offices should be prioritized, especially as digital transformation becomes a requirement for all officials and public servants.

By Huong Hau, Vietnam Business Forum