Moscow (VNA) – The northern province of Phu Tho introduced its investment potential, strengths and incentives to Russian businesses and investors at an investment promotion conference in Moscow on September 1.
The event was jointly organised by the Phu Tho provincial People's Committee and the Vietnamese Embassy in Russia.
Co-chaired by Deputy Secretary of the Phu Tho provincial Party Committee Nguyen Manh Son and Vietnamese Ambassador to Russia Dang Minh Khoi, the event saw the participation of more than 50 Russian businesses, entrepreneurs and investors, along with representatives of Phu Tho's departments and agencies, embassy officials and the Vietnamese community in Russia.
Addressing the event, Son said the long-standing friendship between Vietnam and Russia provides a strong foundation for expanding economic cooperation.
He highlighted the new scale and development potential of Phu Tho following the merger of Phu Tho, Vinh Phuc and Hoa Binh provinces on July 1, 2025. The new province covers more than 9,300 sq.km, ranking 15th nationwide by area, and has a population of more than 4 million, ranking 11th.
Phu Tho's economy grew 10.52% in 2025, the fourth-highest growth rate nationwide. During 2021-2025, the province attracted nearly 6 billion USD in foreign direct investment (FDI).
The province now has 32 industrial parks covering more than 7,000ha, 18 of which are operational. It is home to major international groups such as Honda, Toyota and Piaggio, as well as more than 70 supporting enterprises supplying global technology groups including Samsung, Dell and Apple.
“Every investor coming to Phu Tho is a citizen of Phu Tho, and the success of businesses is the success of the province,” Son said, stressing the province's commitment to a transparent investment environment, streamlined procedures and close support from local authorities.
With a target of achieving average annual GRDP growth of 11-12% during 2026-2030, Phu Tho is calling on Russian companies to invest in three key groups of sectors.
These include electronics, semiconductors, artificial intelligence (AI), precision engineering, automobile and electric motorcycle manufacturing, new materials, renewable energy and green production.
The province also seeks investment in multimodal logistics and large-scale commercial infrastructure, taking advantage of its connectivity with Hanoi, Noi Bai International Airport and major economic corridors in northern Vietnam.
Tourism is another priority, with opportunities for investment in destinations such as Tam Dao and Mai Chau, as well as hot mineral water areas in Thanh Thuy and Kim Boi, focusing on eco-tourism, resorts and sports tourism.
Khoi welcomed Phu Tho's initiative and expressed confidence that strong Vietnam-Russia diplomatic ties would provide a solid foundation for the province to expand trade and investment promotion activities in the Russian market.
He affirmed that the Vietnamese Embassy in Russia would continue to support Phu Tho and serve as an effective bridge to turn cooperation commitments into concrete projects.
At the conference, Phu Tho Vice Chairman of the People's Committee Quach Tat Liem also presented specific investment incentives and policies to Russian participants.
The strong interest shown by dozens of Russian businesses and investors offered positive signs for investment flows and the growing interest in Southeast Asian markets.
The Moscow conference is expected to open up new opportunities for economic cooperation between Phu Tho and Russian partners, while contributing to deeper and more effective trade and investment ties between Vietnam and Russia./.
