Phu Tho hosts Thai Connect Conference to boost investment, trade ties

Phu Tho hosts Thai Connect Conference to boost investment, trade ties

Phu Tho province has hosted the 2026 Thai Connect Conference, its largest foreign affairs event of the year, aimed at expanding investment and trade ties with Thailand.

The event took place on June 17, co-organised by Phu Tho People's Committee, the Ministry of Foreign Affairs (MoFA), and the Royal Thai Embassy. It comes as Vietnam and Thailand mark the 50^th anniversary of diplomatic relations and advance cooperation under their Comprehensive Strategic Partnership.

Urawadee Sriphiromya, Thai Ambassador to Vietnam, praised Phu Tho's efforts to improve its investment environment in recent years. She noted that the province's consistent support for Thai businesses has strengthened investor confidence and laid the groundwork for further expansion of production and business activities in the locality.

Tran Duy Dong, Chairman of Phu Tho People's Committee, said that following the integration of the development space of Phu Tho, Vinh Phuc, and Hoa Binh provinces, the locality now has significant advantages for accelerated growth in terms of population scale, workforce availability, and industrial land resources.

Phu Tho currently ranks 11^th nationwide in population and is among the country's 15 largest localities by area. The province serves as the economic centre of Vietnam's northern midlands and mountainous region, while acting as a gateway connecting Hanoi with the northwestern provinces.

The province is home to nearly two million workers and has planned 57 industrial parks covering approximately 13,800 hectares, of which 30 are already operational. Key industries including automobiles, motorcycles, electronics, mechanical engineering and supporting industries have developed strongly.

In 2025, Phu Tho's economy expanded by over 10.5 per cent, ranking fourth nationwide and leading the Northern Midlands and Mountainous Region. Its economic output exceeded VND412 trillion ($16 billion), while exports reached $42 billion, placing the province among Vietnam's top five exporting localities. State budget revenue totalled approximately $2.4 billion.

The investment climate remained a bright spot, with the province attracting around $1.6 billion in foreign direct investment (FDI) and nearly $10 billion in domestic investment in 2025. In the first five months of 2026 alone, newly registered FDI surpassed $1.8 billion, four times higher than the same period last year.

As of June 2026, Thai investors were implementing 16 projects in Phu Tho, with total registered capital exceeding $400 million. These projects are concentrated in manufacturing and processing industries, industrial park infrastructure development, trade and services, and real estate, contributing to local economic growth and strengthening investment ties between Phu Tho and Thailand.

Phu Tho is currently home to more than 41,000 operating enterprises and 742 foreign-invested projects from 28 countries and territories, with total registered capital approaching $15 billion. According to the Vietnam Chamber of Commerce and Industry, the province ranked among the top five localities nationwide for economic governance quality in 2025 and placed second nationally in resource accessibility.

“Building on this foundation, Phu Tho aims to become one of the key growth poles of the Hanoi Region by 2030, serving as a regional hub for industry, trade and logistics. By 2045, the province aspires to become a centrally governed city with modern infrastructure and a high quality of life,” Chairman Dong said.

At the conference, Nguyen Manh Cuong, Deputy Minister of Foreign Affairs, said Thailand is currently Vietnam's largest trading partner within ASEAN, while Vietnam ranks as Thailand's sixth-largest trading partner globally. Bilateral trade reached $22.07 billion in 2025 and is moving toward a target of $25 billion in the near term, with a longer-term ambition of $50 billion.

In investment, Vietnam remains a key destination for Thai enterprises, with 805 valid projects and total registered capital of $15.4 billion. “Cooperation between localities is emerging as a new driver of bilateral relations, evolving from traditional friendship exchanges to substantive development partnerships focused on innovation, digital transformation and sustainable growth,” Cuong said.

He stated that the MoFA will continue supporting Phu Tho and other localities nationwide by serving as a bridge to international partners, including Thailand, and promoting economic diplomacy, technology diplomacy and innovation diplomacy in a more effective and practical manner.

Leaders of Phu Tho province and Thai and Vietnamese businesses at the ceremony for exchanging the letter of intent on investment cooperation

As part of the event, the Amata City Phu Tho project at Doan Hung Industrial Park, developed by Amata VN Public Company, was launched through a ceremonial activation. The project marks an important step towards developing a modern, green, and sustainable industrial park in Phu Tho while creating new opportunities to attract high-quality investment capital.

Several important cooperation documents were also exchanged between Thai businesses and agencies in Phu Tho Province. Highlights included an investment letter of intent between C.P. Vietnam and Phu Tho leaders; memoranda of understanding signed by Central Retail Vietnam and MM Mega Market Vietnam with the province's Investment Promotion and Business Support Centre; and a series of cooperation agreements involving Amata Corporation, Phu Tho Vocational College, Nippon Koei, the Yokohama Urban Solution Alliance, Marubeni Corporation, Bangkok Bank, VinEnergo, Winner Sky Property, and Korean Land & Housing.

The 2026 Thailand Connect Conference in Phu Tho highlighted the province's determination to expand international cooperation, attract high-quality investment, and build a new development ecosystem centred on modern industry, smart urban development, and green growth.

VIR