Phu Tho Promotes Investment in Beijing, Targets Major Chinese Capital Flows

With an economy of around US$16 billion, growth of 10.52%, and US$1.51 billion in FDI attraction in 2025, Phu Tho is emerging as a new investment destination in northern Vietnam. At an investment promotion conference held in Beijing, China, on April 14, the province delivered a strong message positioning itself as an attractive destination for high-tech, infrastructure, and green energy projects, particularly from Chinese enterprises.

New development space

The Phu Tho investment promotion conference in Beijing took place as the province enters a new development phase with expanded growth potential. Speaking at the event, Chairman of the Phu Tho Provincial People’s Committee Tran Duy Dong said: “The merger of Phu Tho, Vinh Phuc, and Hoa Binh has opened up a new development space, creating sufficient scale to attract large-scale, high-tech, and spillover projects.”

This is a strategic restructuring step that not only expands scale but also strengthens competitiveness in attracting investment. After the merger effective July 1, 2025, Phu Tho covers more than 9,361 km², has a population of over 4 million, and ranks sixth nationwide in economic size.

Phu Tho’s advantages come not only from its scale but also from its strategic geo-economic location. Located within the Hanoi Capital Region (Hanoi and surrounding provinces), the province serves as an important transit point between the northern mountainous area and the Red River Delta. This position is particularly important as global supply chains are being reshaped toward cost optimization and shorter transportation times.

A synchronized transport infrastructure system further strengthens its attractiveness. With about 31,000 km of roads, nearly 680 km of inland waterways, and more than 100 km of national railway lines, Phu Tho is well connected to Noi Bai International Airport, Hai Phong Port, and major border gates such as Lao Cai and Mong Cai. This connectivity helps enterprises significantly reduce logistics costs, a key factor in investment decisions.

The province’s 2025 economic performance reflects these advantages, with GRDP reaching around US$16 billion and growth of 10.52%, among the highest in the country and leading the northern midland and mountainous region. This provides an important foundation for continued growth in the coming period.

Beyond industry, Phu Tho also has strong potential in services and tourism. As the ancestral land of the Vietnamese nation, with rich cultural heritage, scenic landscapes, mineral springs, and resort areas, the province has favorable conditions to develop cultural, ecological, and wellness tourism, a sector increasingly attracting high-quality investment.

Attracting large-scale capital, targeting high-tech sectors

Building on its advantages, Phu Tho is selectively orienting investment attraction toward high-tech, environmentally friendly sectors with high added value.

Speaking to the business community at the conference, Provincial People’s Committee Chairman Tran Duy Dong said: “Phu Tho identifies investment attraction as an important driver of growth. We are committed to strongly improving the investment environment and accompanying businesses to provide the most favorable conditions.”

Accordingly, the province is implementing synchronized administrative reforms, improving governance quality, and maintaining regular dialogue with enterprises to promptly address challenges during project implementation.

A key pillar is industrial park infrastructure development. Phu Tho has established 28 industrial parks covering more than 5,800 ha and plans to expand to 58 parks by 2050, with a total area exceeding 14,000 ha. Many industrial parks have completed infrastructure and are ready to receive large-scale projects, especially in high-tech sectors.

Investment results in 2025 show positive momentum, with US$1.51 billion in FDI and about US$10 billion in domestic investment. To date, the province has 735 FDI projects with total registered capital of about US$13.2 billion from 27 countries and territories.

Notably, China is among the largest investors in Phu Tho, with 179 projects totaling nearly US$3.5 billion. The growing presence of Chinese enterprises is contributing to industrial development and opening wider cooperation opportunities in the coming period.

At the conference, provincial leaders called on Chinese investors to expand operations in Phu Tho, focusing on key sectors such as semiconductors, electronic components, computer manufacturing, data centers, artificial intelligence, and supporting industries for automobiles and electric vehicles.

Emphasizing a sustainable development orientation, Tran Duy Dong said: “We hope enterprises not only invest capital but also cooperate in technology transfer and research and development to create long-term value together.”

In addition to high-tech industry, Phu Tho also prioritizes investment in transport infrastructure, smart urban development, high-tech agriculture, agricultural processing, high-quality tourism services, and green and renewable energy. These sectors align with global development trends and Vietnam’s green growth strategy.

The investment promotion conference in Beijing is expected to create new momentum for Chinese capital flows into Phu Tho in the coming period. As Chinese enterprises accelerate overseas investment to restructure supply chains, Vietnam in general and Phu Tho in particular are becoming attractive destinations thanks to political stability, competitive costs, and favorable geographic location.

With a clear message of a transparent, open, and business-friendly investment environment, Phu Tho is steadily affirming its position as a strategic destination for global capital. If opportunities are well captured, the province can become a new growth pole in the northern midland region, making an important contribution to national economic growth in the coming period.

Le Hien (Vietnam Business Forum)