Phu Tho emerges as a bright spot attracting investment in the North

In the context of the global economy still having many fluctuations and increasingly fierce competition to attract investment, Phu Tho province (new) is gradually asserting itself on the investment map of the North. With appropriate policies, innovative thinking and drastic actions in removing difficulties for businesses, the Homeland is successfully "rolling out the red carpet" to welcome the "eagles" to nest, creating a strong wave of investment.

Viet Tri River junction urban area. Photo: Do ​​Thu Quyen

Immediately after implementing the historic Resolution on merging 3 provinces, Phu Tho identified that the key to unleashing potential and creating new growth momentum is to strongly improve the investment and business environment. A comprehensive strategy, focusing on enterprises and investors, has been implemented in a systematic and synchronous manner.

The province has proactively reviewed and proposed to eliminate a series of unnecessary business conditions, overlapping and inappropriate regulations, which are major barriers to business development. To concretize this policy, the Plan to implement Resolution No. 68-NQ/TW of the Politburo on private economic development has been issued with ambitious goals: reducing at least 30% of administrative procedure processing time, 30% of legal compliance costs and 30% of business conditions.

The province has established special working groups, delving into each field, from land, construction to environment, to find "bottlenecks" and propose solutions. Land use plans and projects are public and transparent, creating favorable conditions for businesses to access land resources. In particular, the province is committed to accompanying businesses in site clearance - one of the most difficult stages in project implementation.

Enterprises in the Industrial Park on the Left Bank of the Da River actively contribute to sustainable economic restructuring.

The change in service thinking is clearly demonstrated through the activities of public agencies. The "Dialogue with Enterprises" column was built on the electronic information portal of the province and departments and branches, becoming a channel to quickly and effectively receive and resolve problems and recommendations from the business community. Management methods have also been modernized, promoting online and remote inspection, minimizing hassles, creating space for businesses to focus on production and business.

The tireless efforts of the Phu Tho provincial government have brought about clear results. The investment attraction picture in the first 9 months of 2025 is full of impressive bright colors. The whole province has attracted 912.5 million USD, an increase of 39% over the same period and reaching 86.2% of the year's target, showing that Phu Tho has become an attractive, safe and potential address in the eyes of international corporations, especially in high-tech fields such as computer and electronic component manufacturing.

In addition to attracting FDI, domestic investment (DDI) also recorded impressive growth with 62.3 trillion VND attracted, nearly 3 times higher than the same period in 2024, reaching 72.2% of the year's target. This shows that large domestic enterprises and corporations are also seeing development opportunities in Phu Tho and are ready to invest in large-scale projects, contributing to promoting the province's industry, services and tourism sectors.

The recent period has also shown the strong development of the private economic sector. In the first 9 months, 3,800 new businesses were registered, an increase of 62.5% over the same period, bringing the total number of businesses in the area to 40,900. Along with that, 820 businesses returning to operation is a positive signal, showing that the business environment has really improved, helping businesses overcome difficulties and regain growth momentum.

To achieve this positive result, it is necessary to recognize the movement of political systems to implement solutions to improve the business environment, creating conditions for economic sectors to develop. The top leaders of the province have directly met and worked with a series of organizations, corporations, and large enterprises to listen, share and invite investment. The Provincial Steering Committee for Investment Promotion and Enterprise Development, after being reorganized, has operated extremely effectively, becoming a reliable bridge between the government and investors.

For a truly vibrant investment environment, financial and credit support policies play an important role in nurturing the business body. Deeply aware of this, the financial and banking system in the province has taken the initiative and strongly.

Solutions to increase budget revenue and prevent revenue loss have been effectively implemented, ensuring resources for investment and development. At the same time, the tax sector has stepped up support and removed difficulties for taxpayers, creating conditions for businesses to stabilize production.

A corner of Vinh Yen ward. Photo: Khanh Linh

In the credit sector, a series of humane and practical programs and policies have been implemented. The bank-business connection program is organized regularly, helping to unblock capital flows. Policies to restructure debt repayment terms and maintain debt groups have helped many businesses facing difficulties due to the impact of natural disasters to have the opportunity to recover. In particular, preferential credit packages for the agriculture, forestry, fishery, and social housing sectors have added strength to the province's priority sectors.

Interest rates have decreased slightly, creating conditions for businesses to access capital at more reasonable costs. By the end of September 2025, the total outstanding loans in the province were estimated at 336.5 trillion VND, an increase of 18.8% over the same period. Credit capital has flowed in the right direction, focusing on production and business, priority areas, while areas with potential risks are strictly controlled. In particular, the bad debt ratio has been reduced to a very low level, only 0.49%, showing that the health of the entire banking system and the business community is very good.

With an increasingly open and transparent business environment, a system of practical support policies and the substantial support of authorities at all levels, Phu Tho province is affirming its position as an unmissable investment destination, creating economic growth, laying the foundation for sustainable development, helping the Homeland take off in the near future.

Le Chung

Source: https://baophutho.vn/phu-tho-vuon-len-thanh-diem-sang-thu-hut-dau-tu-phia-bac-239950.htm