In the first nine months of 2025, Phu Tho’s economy showed strong progress, with gross regional domestic product (GRDP) increasing by 10.22%, ranking fourth nationwide. Budget revenue reached over VND43.9 trillion, exceeding the target set by the central government. All major indicators, including industrial production, trade, and investment attraction, performed well, creating a solid basis for faster growth in the year’s final months.
Prime Minister Pham Minh Chinh inspects Phong Chau bridge project in Phu Tho province
Revenue surpasses expectations
According to the Phu Tho People’s Committee, the province maintained robust economic growth in the first nine months of 2025, reflected in an estimated GRDP increase of 10.22%. This result not only placed Phu Tho fourth in the country but also first in the Northern Midland and Mountainous region, underscoring the effectiveness of local economic management and the province’s growth momentum.
Alongside strong GRDP growth, state budget revenue reached more than VND43.9 trillion, surpassing the central government’s target. This outcome provides a crucial foundation for the province to proactively implement fiscal policies, public investment, and social welfare programs. During the same period, total social development investment capital reached VND102.9 trillion, up 18.13% year on year, reflecting investor confidence in Phu Tho’s business environment.
Building on this positive foundation, industrial production continued to drive growth. Several key industries posted significant gains: laptop manufacturing up 87.1%, cement up 38.84%, steel up 37.56%, electronic components up 26.41%, and footwear up 20.04%. These increases helped sustain strong revenue streams and enhance production capacity across the province.
However, output in the automobile and motorbike industries declined slightly by 0.11% and 2.03%, respectively. This was attributed to competition from imported electric vehicles, shifting consumer behavior, and rising input costs. The contrasting trends across sectors reflect ongoing structural changes in the industrial market and highlight the need for continued technological innovation and product development in the coming period.
Investment, trade, and enterprises on the rise
From industrial production to investment flows, Phu Tho has continued to post strong gains. In the first nine months of 2025, the province attracted more than US$983.4 million in foreign direct investment (FDI), up 61% year on year, while domestic investment (DDI) exceeded VND62 trillion, nearly triple the amount in 2024. Notably, 3,800 new enterprises were established and 820 resumed operations, signaling a clear recovery and growing vitality in the private sector.
Alongside rising investment, international trade has also maintained steady growth. Export turnover was estimated at US$26.8 billion, with machinery, equipment, and electronic components accounting for about 82% of total value. Imports reached US$26 billion, mostly materials and machinery for export-oriented industries. The trade balance remained largely stable, indicating that the province’s production base is operating efficiently and sustainably.
In terms of public investment, the province has allocated 100% of its 2025 capital plan and achieved a disbursement rate of 74.4%, ranking sixth among 34 localities. At the same time, 22 housing development projects have received investment approval, while four social housing projects have broken ground. A total of 2,763 housing units have been completed, equivalent to 72.8% of the 2021-2025 target. These results reflect Phu Tho’s effort to promote urban development in harmony with industrial growth.
Focusing on infrastructure, regional connectivity, and business support
Building on its achievements, Phu Tho is entering the final months of 2025 with clear priorities. The province will accelerate zoning plans for 12 industrial parks, consider investment approval for five new parks, and resolve existing difficulties for ten operational ones. Around 51 projects are expected to be completed and begin production by the end of the year.
At the same time, Phu Tho is developing key regional transport links, including the route connecting the Ho Chi Minh Road with National Highways 70B and 32C, a parallel road to the Hanoi-Lao Cai railway, the Hoa Binh-Moc Chau Expressway, the Hoa Binh-Hanoi route, and the Son La Expressway. These projects will expand the province’s economic space and strengthen investment appeal, particularly in processing industries and logistics.
With its strong performance in the first nine months and clear year-end action plan, Phu Tho is well positioned to meet its fiscal, industrial, and investment targets while reinforcing its reputation as an attractive destination for both domestic and international investors.
By Thanh Nam, Vietnam Business Forum
Vietnamese
