Turn advantages into development drivers

After the arrangement and merger of administrative units, Phu Tho province entered a new development phase with a larger scale and space. The location adjacent to 7 provinces and cities, located on major economic corridors of the country, along with diverse inter-regional infrastructure has created a certain advantage for the province in connecting and attracting investment. To turn advantages into development driving forces, improving the investment and business environment is an important solution, contributing to strengthening trust, supporting businesses to improve competitiveness and increasing the attractiveness of Phu Tho to investors.

In recent times, along with infrastructure investment, Phu Tho has implemented many effective administrative reform solutions, creating substantial changes in the provision of public services. The information system for handling administrative procedures in the province is basically smooth, to date, there are over 2,100 administrative procedures applied in the province. According to the results of the assessment of the quality of handling administrative procedures, in the third quarter of 2025, the province achieved 85.6 points, ranking 7th out of 34 provinces and cities.

YB Vietnam Co., Ltd. (Bai Ba Industrial Park - Dong Thanh, Chi Tien Commune) specializes in manufacturing vibration motors for mobile phones exported to the Korean and Japanese markets.

To remove difficulties and obstacles in production and business, departments and branches regularly work with enterprises. At the same time, actively implement investment promotion activities, connect with strategic investors to attract large projects, high-tech projects, prioritize the development of advantageous industries such as: Electronics industry, telecommunications, software industry, artificial intelligence, investment projects in the service sector, logistics, construction of industrial park infrastructure... Promote investment promotion activities, innovate ways and methods of attracting investment in a proactive and positive direction; call for investment with focus, key points, focusing on potential partners, in which focus on promoting on-site investment promotion activities.

Viet Phap Aluminum Joint Stock Company (Trung Ha Industrial Park, Tam Nong Commune) specializes in producing aluminum profiles and aluminum ingots, creating stable jobs for 120 workers, with revenue reaching over 450 billion VND per year. Mr. Vu Van Phu - Chairman of the Board of Directors of the Company said: "Phu Tho has a stable and transparent investment environment, which is the most important thing for businesses to choose to invest and feel secure in developing. The province not only has advantages in geographical location and connecting infrastructure, but also leaves its mark in the real companionship of the government. After merging administrative units, opening up a larger market, a more complete supply chain, creating more motivation for our business to expand investment and improve competitiveness".

The province's improved business investment environment has attracted many investors from countries interested in exploring investment opportunities. It is estimated that in 5 years (2021 - 2025), the whole province will attract 596 DDI projects with a total registered capital of over 171 trillion VND and 230 FDI projects with a total registered capital of over 3.5 billion USD. Resource mobilization for investment has grown quite well, reaching nearly 599 trillion VND, an average increase of 13.6%/year. In the first 9 months of this year alone, FDI attraction is estimated at 912.5 million USD, an increase of 39% over the same period; DDI attraction is estimated at 62.3 trillion VND, nearly 3 times higher than the same period last year; over 4,600 enterprises have registered for new establishment and returned to operation.

The industrial and construction sector plays a key role in the province's economic structure with a rate of 53%. Currently, the province is focusing on creating clean land funds, accelerating the completion of infrastructure of industrial zones and clusters, contributing to improving the capacity to receive large projects. The whole province has 16 industrial zones in operation, attracting 846 secondary investment projects. Comrade Le Trung Kien - Deputy Head of the Provincial Industrial Zones Management Board said: "Industrial zones contribute positively to the growth and development of the province through strongly attracting investment capital, supplementing resources for total social investment capital and increasing export turnover. To promote advantages in attracting investment, industrial zones prioritize attracting projects that are suitable for the province's industrial orientation, environmentally friendly, high-tech, large-scale, capable of contributing to the budget and suitable to the characteristics of each zone".

Currently, the province is developing a project to "Attract investors and strategic economic groups to invest in the province". This is one of the key tasks to concretize the Resolution of the 1st Provincial Party Congress, term 2025 - 2030 and the major orientations of the Central Government on attracting new generation investment.

With the determination to accompany businesses, an increasingly open and transparent investment environment will be the foundation for Phu Tho to effectively mobilize social resources, promoting rapid and sustainable economic growth in the coming time.

Nguyen Hue

Source: https://baophutho.vn/bien-loi-the-thanh-dong-luc-phat-trien-240660.htm