Phu Tho recorded estimated Gross Regional Domestic Product (GRDP) growth of 10%-10.5% in the first six months of 2026, while progress in resolving key projects, continued improvements in the investment environment, and strong determination to achieve double-digit growth are contributing to a positive economic outlook.
Phu Tho holds an investment promotion conference in Ho Chi Minh City to expand development opportunities
After one year of consolidation, the province has not only expanded its development space but is also gradually turning its advantages into new growth drivers, with the goal of becoming a growth pole for the Northern Midland and Mountainous region.
Strong growth despite headwinds
The first six months of 2026 took place amid continued uncertainty in the global economy. Geopolitical conflicts, rising trade protectionism, inflationary pressures, and shifts in global supply chains continued to affect production, exports, and investment attraction activities across many localities.
Domestically, the restructuring of the administrative apparatus, the implementation of the two-level local government model, and the need to carry out multiple important political tasks simultaneously placed considerable pressure on socio-economic management.
Against this backdrop, Phu Tho maintained strong growth momentum. According to assessments presented at the Third Session of the 20th Provincial People's Council, the province's GRDP growth for the first six months of 2026 is estimated at 10%-10.5%, placing it among the country's fastest-growing localities.
Notably, this result was achieved just one year after the provincial consolidation, while the province was simultaneously restructuring its administrative apparatus and preparing for the full operation of the two-level local government model. The reorganization process did not disrupt services for citizens and businesses; instead, it created a foundation for improving governance and administrative efficiency.
Speaking at the session, Phu Tho Provincial Party Secretary Pham Dai Duong said that the unity of the political system, the proactive management of the Provincial People's Committee, and the support of the business community had helped the province quickly stabilize its organizational structure, complete a large volume of work, and maintain its economic growth momentum.
CNC Tech Group's manufacturing facility at Thang Long Vinh Phuc Industrial Park
Removing bottlenecks, unlocking growth
One of the highlights of Phu Tho's economic performance in the first six months of the year was the improvement in its business and investment environment.
According to provincial leaders, key growth drivers continue to be strengthened, while efforts to resolve long-delayed and major projects have helped accelerate implementation progress. This is a positive signal for the business community, as bottlenecks related to investment procedures, land access, and site clearance have long been major obstacles to project development.
At the same time, administrative reform continues to advance, with citizens and businesses placed at the center of public services. The application of digital technologies in state management, improvements in the quality of administrative procedures, and greater transparency are helping reduce compliance costs and strengthen investor confidence.
Investment promotion and foreign affairs activities have also become more substantive, aligning more closely with business needs and the province's development priorities. This is considered an important factor in enhancing competitiveness, promoting the province's image, and expanding opportunities to attract investment capital in the next phase.
For the business community, these efforts not only improve the business environment but also reflect the local government's commitment to supporting enterprises and recognizing them as a key driver of economic growth.
Turning potential into growth drivers
Despite these positive results, provincial leaders acknowledged that many challenges still require continued attention. According to Phu Tho Provincial Party Secretary Pham Dai Duong, the scale and quality of growth in some sectors have yet to match their potential; the expanded development space following the consolidation has not been utilized evenly; and digital infrastructure, facilities, and the quality of administrative reform in some localities still need further improvement.
These assessments show that Phu Tho is focused not only on achieving quantitative growth targets but also on improving growth quality, investment efficiency, and the overall competitiveness of its economy.
The consistent message from provincial leaders is the need to turn existing potential and advantages into concrete drivers of development, with a focus on delivering measurable results rather than merely setting targets or strategic directions.
Accordingly, the province will continue to modernize governance based on data, make more effective use of the expanded development space following the consolidation, promote science and technology, innovation, and digital transformation, while accelerating administrative reform and addressing bottlenecks related to investment procedures, land, and site clearance.
Toward a new regional growth pole
Under Government Resolution No. 169, Phu Tho is one of 11 localities assigned a growth target of 11% or higher in 2026. Achieving this ambitious target will require strong commitment from the entire political system as well as the active participation of the business community.
To achieve this goal, the province has committed to implementing its double-digit growth strategy with a focus on effectively mobilizing all social resources, strongly developing the private sector, improving the quality of human resources, accelerating strategic infrastructure investment, attracting domestic and foreign investment, and building a transparent, favorable, and competitive business environment.
In particular, completing the institutional framework and improving the effectiveness of the two-level local government model are expected to provide an important foundation for shortening administrative procedures, enhancing state management efficiency, and creating more favorable conditions for businesses in investment, production, and business activities.
After one year of consolidation, Phu Tho is entering a new phase of development with a larger economic scale, expanded development space, and greater growth potential. If the province continues to pursue reform, unlock resources, and support businesses, it will not only have the opportunity to achieve its double-digit growth target in 2026 but also gradually strengthen its position as a new growth center in the Northern Midland and Mountainous region and an increasingly attractive destination for investors in the years ahead.
By Huong Hau, Vietnam Business Forum
