Phu Tho (VNA) – Chairman of the Phu Tho provincial People’s Committee Tran Duy Dong chaired an investment promotion conference in Beijing on April 14, drawing dozens of Chinese enterprises operating in technology, electronics, and metal industries.
Speaking at the event, Dong said it is the province’s first overseas investment promotion conference since the July 2025 merger, held amid increasingly substantive Vietnam–China relations. The event provided a platform for the province to showcase its potential, advantages, and development orientation while inviting Chinese businesses to explore and expand investment opportunities.
Economic and trade ties between Vietnam and China have grown strongly in recent years, with bilateral trade reaching 252 billion USD in 2025. China is currently Vietnam’s third-largest foreign investor and leads in the number of newly registered projects.
Introducing the newly expanded province - formed by the merger of the former Phu Tho, Vinh Phuc, and Hoa Binh provinces in July 2025, Dong said the locality now spans over 9,300 sq.km with a population of more than 4 million people. It plays a key role as a gateway linking the northern midland and mountainous region with Hanoi and localities in the Kunming–Lao Cai–Hanoi–Hai Phong–Quang Ninh economic corridor.
Phu Tho boasts well-developed interregional transport infrastructure, including over 31,000 km of roads, nearly 680 km of inland waterways, and 113 km of national railway. The province has planned 57 industrial parks, with 30 already developed across more than 5,800 hectares, offering ready-built infrastructure and clean land for investors.
To date, Phu Tho has attracted 742 FDI projects worth nearly 13.96 billion USD from 27 countries and territories. Chinese investors possess 180 projects with a combined capital of 3.57 billion USD, representing 24% of total projects and 26% of total FDI capital. Notably, a project by Chinese battery and electric vehicle giant BYD has an investment of 411 million USD.
Dong stressed that Phu Tho is entering a new development phase, targeting rapid growth alongside sustainability, driven by science and technology, innovation, and digital transformation. By 2030, the province aims to become a hub for industry, trade, logistics, health care, and high-quality education, with modern infrastructure in place by 2045.
To attract investment, the province has identified three strategic breakthroughs: strengthening administrative reforms, building a transparent, effective, and efficient government; developing human resources, especially high-quality peresonnel; building synchronised and modern infrastructure, and applying investment incentives in accordance with Vietnamese law.
It prioritises attracting investment in high-tech and manufacturing sectors such as electronics, semiconductors, supporting industries, precision mechanics, electric vehicles and motorcycles, medical equipment, pharmaceuticals, new materials, and renewable energy. At the same time, the province also encourages the development of research and development (R&D) centres, logistics, and specialised industrial parks.
Chinese enterprises at the conference expressed strong interest in Phu Tho’s potential and pledged to explore cooperation opportunities, especially in high-tech industries, material production and logistics services.
Dong affirmed that Phu Tho considers businesses long-term strategic partners and is committed to creating favourable conditions for Chinese investors to implement projects efficiently and sustainably./.
VNA
