With its industry-driven development strategy, Phu Tho is implementing comprehensive measures to attract investment, upgrade infrastructure, and improve the efficiency of its industrial parks. Results from the first ten months of 2025 showed that the province’s investment climate continues to improve, creating a solid foundation for sustainable growth.
Phu Tho is boosting investment attraction and industrial park development
Industry as a growth engine
According to Chairman of the Provincial People’s Committee Tran Duy Dong, industry not only contributes significantly to economic growth but also stimulates development in other sectors. Therefore, investment attraction into industrial parks must be carried out decisively, strategically, and with clear priorities.
The Phu Tho Industrial Parks Management Board reported that during the first ten months of 2025, the province approved 64 new investment projects and granted capital increases to 88 existing ones, bringing total newly registered and adjusted capital to US$867.11 million, equivalent to nearly 96% of the annual plan. Of this amount, 31 new FDI projects accounted for US$211.39 million, while 65 capital adjustments added another US$655.71 million, reflecting foreign investors’ growing confidence in Phu Tho’s business climate.
For domestic investment, the province approved 33 new projects with a total capital of VND11,762.19 billion and permitted 23 existing projects to raise capital by more than VND2,406.71 billion, bringing total domestic investment to VND14,168.9 billion, equal to 120% of the 2025 target.
Beyond capital inflows, industrial operations have also maintained robust growth. In the first nine months of 2025, FDI projects generated US$15.83 billion in revenue, exported goods worth US$25.07 billion, and contributed VND7,208.52 billion to the state budget, all higher than the same period last year. Domestic projects recorded VND23,859.99 billion in revenue, US$3.56 billion in exports, and VND1,330.3 billion in tax payments, making a significant contribution to overall provincial growth.
Accelerating infrastructure development
While attracting capital is the starting point, infrastructure and project quality determine long-term effectiveness. In the first ten months of 2025, 59 additional secondary projects in industrial parks commenced operations, raising the total number of active projects to 679, with 146 others under construction or completion. This demonstrates a stable industrial environment and growing sectoral diversification.
To create more room for development, during a recent meeting with the Industrial Parks Management Board, provincial leaders reviewed proposals for two key infrastructure projects: the Thanh Hoi Industrial Park in Tan Lac commune, covering 130 ha with total investment of VND1,500 billion (including VND300 billion in investor equity), and the Doan Hung Industrial Park, to be developed by Thailand’s Amata Group, spanning nearly 500 ha with registered capital of about VND4,900 billion.
The provincial leadership requested thorough assessments of investor capacity, land clearance plans, implementation phases, and land use efficiency. Both projects are expected to attract high-value industries such as supporting industries, high technology, electronics, and automotive and motorbike components, linking Phu Tho more closely with global supply chains.
To sustain momentum, Tran Duy Dong urged departments and sectors to continue on-site investment promotion, support established enterprises in expanding production, and at the same time attract new projects from external investors. The province will also review and adjust its industrial park planning in line with regional development strategies, ensuring efficient land use and environmental protection.
Parallel efforts include accelerating administrative reform, shortening appraisal procedures, increasing transparency in planning information, and enhancing coordination among departments such as Finance, Construction, and Agriculture and Environment.
Through proactive and flexible approaches, Phu Tho is steadily strengthening its regional position as a reliable destination for both domestic and foreign investors. Industry remains the key driver of growth, helping the province advance rapidly and sustainably in the years ahead.
By Duy Hung, Vietnam Business Forum
Vietnamese
