Phu Tho lays groundwork for next investment wave

Phu Tho lays groundwork for next investment wave

Phu Tho province is stepping up investment promotion efforts with a pipeline of 175 priority projects for the 2026-2030 period across industry, urban development, infrastructure, and high-tech agriculture.

The province showcased its ambitions at the 2026 Phu Tho Investment Promotion Conference in Ho Chi Minh City on May 29, marking its first major domestic investment promotion event following the recent administrative merger.

Addressing the conference, Tran Duy Dong, Chairman of Phu Tho People’s Committee, said the event offered an opportunity for the northern province to present its development vision and long-term ambitions to the business community and investors from southern Vietnam.

“Phu Tho aims to become one of the Capital Region’s growth poles and a centre for industrial, commercial, and logistics development by 2030. By 2045, the province aspires to become a centrally governed city with modern infrastructure and a prosperous economy,” said Dong.

To support these goals, Phu Tho is focusing on three strategic priorities: administrative reform, the development of new growth spaces through three economic corridors, one ecological belt, and five growth axes, and the cultivation of a highly skilled workforce.

Tran Duy Dong, Chairman of Phu Tho People's Committee, spoke at the conference

At the event, Bui Hong Do, director of Phu Tho Investment Promotion and Business Support Centre, announced a list of 175 priority projects and programmes under the province’s investment attraction strategy for 2026-2030.

The projects are concentrated in six sectors, including industrial development in industrial parks and clusters, urban and commercial projects, housing, healthcare, education, tourism, environmental services, high-tech agriculture, and regional transport infrastructure.

The province is also taking a selective approach to investment attraction. Alongside the priority project list, local authorities publicly identified 10 restricted sectors and 12 sectors that will not be encouraged.

“We will firmly reject projects with high environmental risks, prohibited technologies, labour-intensive processing activities in areas facing workforce shortages, and industries that generate harmful emissions. The objective is to build a clean, sustainable, and transparent investment environment,” Do said.

During discussions with investors, several business representatives highlighted the province’s stable regulatory environment and administrative reforms aimed at improving investor support.

The 2026 Phu Tho Investment Promotion Conference

Nguyen Thi Ban, vice president for External Affairs and Vietnam representative of TAL Hong Kong, said the group had evaluated several investment destinations across Vietnam before deciding to continue expanding in Phu Tho.

“The decision is not just based on location and industrial infrastructure, but also on investor confidence in the province’s business environment,” Ban said. “We highly value the practical support, openness, and reform efforts demonstrated by the provincial leadership.”

She added that an attractive investment environment depends on incentives, transparent governance, and the willingness of authorities to accompany businesses throughout their operations.

In response to investor concerns, provincial leaders pledged to maintain and enhance support mechanisms relating to land, construction procedures, and business dialogue programmes. Authorities are also accelerating the development of industrial park infrastructure and the creation of ready-to-use industrial land.

The province is additionally working to make planning and land-use information available through digital platforms to help investors conduct research and site assessments more efficiently.

At the conference, investment certificates were awarded to four domestic and foreign projects with a combined registered capital of nearly $280 million. The province also signed investment memoranda worth more than $200 million.

Phu Tho Investment Promotion and Business Support Centre and Central Retail Vietnam sign an MoU to develop a GO! shopping centre

In addition, cooperation agreements were signed between the Phu Tho Investment Promotion and Business Support Centre and Central Retail Vietnam on the development of a GO! shopping centre, and with Nafoods Group on an agricultural processing project.

Closing the event, Vice Chairman of Phu Tho People’s Committee Nguyen Khac Hieu said stronger economic links between Ho Chi Minh City and Phu Tho could create new opportunities for growth and investment cooperation.

“Phu Tho is determined to build a transparent, efficient, and investor-friendly business environment. We are committed to creating new advantages for investors seeking long-term opportunities and sustainable growth in the province,” Hieu said.

The conference forms part of the province’s broader effort to position itself as a competitive destination for both domestic and foreign investors while supporting its long-term development objectives following the merger.

VIR