In his opening speech, Dong spotlighted Phu Tho’s strategic position following the merger of Phu Tho, Vinh Phuc, and Hoa Binh provinces effective on July 1, 2025. The newly enlarged province spans over 9,300 sq.km with a population exceeding 4 million, ranking 15th in area and 11th in population nationwide. Phu Tho lies along the Kunming - Lao Cai – Hanoi - Hai Phong - Quang Ninh economic corridor, a key trade route linking southwest China with northern Vietnam.

Boasting a diverse natural ecosystem and 57 planned industrial parks, 30 of which cover more than 5,800 ha with ready-built infrastructure and cleared land, Phu Tho has drawn 742 foreign-invested projects with total registered capital of nearly US$14 billion. China holds 180 of those projects worth US$3.57 billion, or about 26% of the province’s total foreign direct investment. Standout commitments include a US$411 million electronics plant by BYD, along with interest from major groups such as China Pacific Construction Group, JD Group and Geely.

Dong reaffirmed the province’s commitment to development driven by innovation, sci-tech, and digital transformation. The goal is to turn it into a hub for industry, trade, logistics, healthcare, and quality education by 2030, and a modern, prosperous urban area with high living standards by 2045.

The province will hasten sweeping administrative reforms, build an integrity-driven, transparent, and effective administration, and stand alongside investors to ensure a safe and stable business playground, while offering the highest possible investment incentives permitted under Vietnamese law, he stressed.

Following discussions with the Chinese companies, both sides pinpointed priority investment sectors, including hi-tech industries such as electronics and semiconductors, precision engineering, automotive and electric motorcycles, new materials, renewable energy, research and development centres, logistics, and specialised hi-tech industrial parks.

Many Shanghai-based enterprises voiced their strong interest in Phu Tho’s upside and investment climate, pledging to intensify surveys, promotional activities and joint economic projects in the coming time to support sustainable development and deepen economic ties.

The meeting with 39 major Shanghai firms underscored increasingly substantive and effective cooperation between Vietnam and China, as well as Phu Tho’s proactive push for global integration and foreign investment attraction.

The 2026 investment promotion conference in Shanghai is expected to open up new cooperation opportunities, cementing Phu Tho’s appeal as a destination for both domestic and overseas investors and fueling comprehensive, sustainable economic growth in the years ahead.

Phu Tho promotes investment, expands cooperation with Chinese firms

Chairman of the Phu Tho provincial People’s Committee Tran Duy Dong chaired an investment promotion conference in Beijing on April 14, drawing dozens of Chinese enterprises operating in technology, electronics, and metal industries.