Phú Thọ expands industrial zones for more investment
Phú Thọ expands industrial zones for more investment
The northern province of Phú Thọ has completed the construction and expansion of seven industrial parks and 21 out of the 28 industrial clusters, helping turn the locality into a magnet for foreign investors.
A view of Phú Hà Industrial Park in the northern province of Phú Thọ. — Photo als.com.vn |
The Phú Hà Industrial Zone, one of the key areas, spans over 356ha in its first phase and is situated across the districts of Hà Lộc, Phú Hồ and Hạ Thạch in Phú Thọ Township. The zone is currently 50 per cent occupied by factories, with numerous establishments operating at full capacity.
By the end of 2024, Viglacera Corporation Joint Stock Company, the investor of Phú Hà Industrial Park, plans to finalise investments in essential infrastructure, including roads, drainage systems, water supply, lighting, and green spaces.
Additionally, the zone will enhance safety with traffic control, fire prevention systems, and worker transport services.
Trịnh Thế Truyền, Director of the Phú Thọ Department of Planning and Investment, stated that the province aims to attract investments totaling at least VNĐ50 trillion (about US$2 billion) in 2024. This includes new and adjusted foreign direct investment (FDI) projects, with a target of $500-600 million in FDI. Phú Thọ also plans to offer 200-300ha of clean land to attract further investment.
The province is streamlining land registration offices across districts, improving administrative procedures, and accelerating key infrastructure projects. Specific actions include finalising Phú Hà Industrial Zone Phase 1, initiating Phase 2, and developing additional zones such as Tam Nông and Hạ Hòa. The expansion also includes new industrial clusters like Đông Phi, Tam Nông, Nam Đoan Hùng, Phú Hồ, and Quảng Yên.
Chairman of the provincial People’s Committee Bùi Văn Quang emphasised the province's commitment to leveraging its geographical and natural resources, alongside cultural advantages, to enhance investment attraction. Efforts are focused on expediting land clearance, reducing administrative delays, and advancing major infrastructure projects, including industrial zones and residential areas.
Nguyễn Anh Sơn, Director of the Import-Export Department under the Ministry of Industry and Trade, highlighted Phú Thọ's potential to become a growth hub in the north’s economic region, linking Việt Nam with China and ASEAN.
Over the past three years, the province has drawn nearly 500 domestic investment projects with registered capital totaling VNĐ56.9 trillion and 78 FDI projects with capital estimated at more than $2.1 billion. The average size of domestic projects has increased by VNĐ27.7 billion, while the average FDI project size has risen by $50.4 million. Major investors from the Republic of Korea, China, Japan, Singapore, the US, and India are focusing on electronics, textiles, packaging, plastic pellets, and food processing sectors.
