Phú Thọ promotes investment, expands cooperation with Chinese enterprises

Phú Thọ promotes investment, expands cooperation with Chinese enterprises

Việt Nam – China economic ties have expanded significantly, with bilateral trade reaching about US$252 billion last year.

Chairman of the Phú Thọ Provincial People’s Committee, Trần Duy Đông, introduces the province’s potential and advantages to Beijing-based enterprises. — VNA/VNS Photo

Chairman of the Phú Thọ Provincial People’s Committee Trần Duy Đông chaired an investment promotion conference with dozens of Chinese enterprises, mainly in technology, electronics and metals, in Beijing on Tuesday.

He noted this was Phú Thọ’s first overseas investment event since its administrative merger, taking place amid steadily strengthening Việt Nam – China relations.

The conference provided a platform for the province to present its potential, development orientation, and call for increased Chinese investment.

Việt Nam – China economic ties have expanded significantly, with bilateral trade reaching about US$252 billion last year.

China is Việt Nam’s third-largest foreign investor and ranks first in newly registered projects.

Following its merger with Vĩnh Phúc and Hòa Bình in July last year, Phú Thọ now spans over 9,300 sq.km with a population exceeding four million.

The province plays a key role in connecting northern midland and mountainous regions with Hà Nội and the Kunming – Lào Cai – Hà Nội – Hải Phòng – Quảng Ninh economic corridor.

Phú Thọ has a strong transport network, including over 31,000km of roads, 680km of inland waterways and 113km of railway. It has planned 57 industrial parks, with 30 covering more than 5,800 hectares and offering ready-to-use land.

The province hosts 742 FDI projects worth nearly $14 billion. Chinese investors account for 180 projects totaling $3.57 billion, including major ventures such as the BYD Vietnam Electronics Factory.

Looking ahead, Phú Thọ aims for rapid, sustainable growth driven by innovation and digital transformation, targeting major advances by 2030 and modern infrastructure by 2045. Key priorities include administrative reform, skilled workforce development, and infrastructure improvement.

The province is focusing on high-tech and manufacturing sectors, while encouraging R&D, logistics, and specialised industrial parks.

Chinese businesses expressed strong interest in expanding cooperation and provincial leaders reaffirmed their commitment to supporting investors and fostering long-term partnerships. 

Bizhub