In the first eight months of 2026, Phu Tho’s total state budget revenue reached VND41.6 trillion (US$1.60 billion), up 12.8% year on year. Notably, domestic revenue reached VND37.4 trillion (US$1.44 billion), up 17.5%, with the foreign-invested and non-state industrial and commercial sectors continuing to post strong growth.
Leveraging its advantageous location, good industrial infrastructure, and expanded development space, Phu Tho is proactively engaging Russian businesses and investors, aiming to turn cooperation opportunities into concrete, substantive investment projects.
The digital economy is becoming increasingly visible across production and business operations in Phu Tho Province. From industrial and commercial enterprises to agricultural processors, digital technology is being applied to boost productivity, lower costs, and broaden markets. This shift reflects how the local business community is putting Resolution No. 57-NQ/TW on science, technology, innovation, and digital transformation into action.
Phu Tho plans to allocate VND137.035 trillion (US$5.271 billion) in public investment capital for the 2026-2030 period, up roughly 27% from 2021-2025, while the overall number of projects is expected to fall by at least 30%.
Phu Tho is focusing on resolving obstacles related to site clearance, resettlement, and technical infrastructure, enabling Sun Group’s projects to secure sites for early implementation and, in turn, attract more investment resources to the province.
Business activities in Phu Tho Province are maintaining their growth momentum, driving growing demand for capital among businesses. Against this backdrop, the banking system is actively channeling capital, directing credit toward production, investment and the province’s key economic sectors.
Toyota Vietnam’s continued investment of more than US$283 million in its plant demonstrates Phu Tho Province’s growing appeal as a destination for large-scale investment, particularly from global corporations.
With an economy approaching US$16 billion, exports of about US$42 billion, and FDI inflows rising fivefold in the first six months of 2026, Phu Tho is emerging as a new growth hub in northern Vietnam. At the plenary session on diplomacy for national development, held as part of the 33rd Diplomatic Conference, provincial leaders reaffirmed their commitment to making diplomacy a driving force for attracting investment, expanding markets, and strengthening the competitiveness of local businesses in the next stage of development.
Following the merger, Phu Tho has 58 industrial parks in its master plan, giving the province significant room for industrial development. However, amid increasingly fierce competition for investment, this planning advantage will only become meaningful when it is backed by clean land, synchronized infrastructure and an open investment environment. Removing site clearance bottlenecks is therefore key to strengthening the province’s competitiveness and attracting a new wave of investment.
The groundbreaking of the Social Housing Project at the Trung Minh A New Urban Area, with nearly 1,300 apartments, not only supports social welfare objectives but also strengthens Phu Tho Province's investment attraction ecosystem.
