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.
Phu Tho People’s Committee Chairman Tran Duy Dong addresses the plenary session on diplomacy for national development at the 33rd Diplomatic Conference
Diplomacy must support growth and businesses
On August 4, the Ministry of Foreign Affairs held the plenary session on diplomacy for national development in the new era. The conference was held in a hybrid format, connecting the central venue with localities and Vietnam's overseas representative missions.
Representing the province at the central venue, Phu Tho People's Committee Chairman Tran Duy Dong presented a paper on promoting economic diplomacy to support local development and proposed measures to strengthen the Ministry of Foreign Affairs' support for businesses and localities.
A key message of the conference was the need to renew foreign affairs thinking amid intensifying global competition. Under this approach, diplomacy goes beyond expanding international relations to directly support growth by helping businesses access markets, technology, investment capital, and global supply chains.
In his keynote address, Prime Minister Le Minh Hung said foreign affairs should shift from simply "opening the way" to "accompanying development," with support for localities, businesses, and citizens serving as the measure of success.
According to the Prime Minister, the Ministry of Foreign Affairs should continue removing obstacles to international cooperation, advancing high-level commitments, supporting businesses in expanding export markets, attracting investment, developing high-tech and strategic infrastructure projects, and proactively diversifying markets to reduce risks amid ongoing global economic uncertainty.
This direction also aligns with the development priorities of many localities, including Phu Tho, as they pursue growth driven by innovation and deeper integration into global value chains.
Phu Tho promotes investment and market expansion through diplomacy
In his presentation, Phu Tho People's Committee Chairman Tran Duy Dong said that following the provincial merger, Phu Tho now covers more than 9,300 square kilometers, has a population of over 4 million, and an economy approaching US$16 billion. Its larger scale not only creates greater room for growth but also opens new opportunities to attract international resources, particularly high-quality investment.
As competition among countries increasingly depends on science, technology, innovation, and access to global capital, technology, knowledge, and markets, foreign affairs must become a true driver of economic development.
With this direction, Phu Tho has adopted a more proactive and practical approach to foreign affairs, closely aligning its activities with economic development goals. Rather than focusing mainly on exchanges, the province is prioritizing international cooperation that directly supports investment attraction, science and technology development, workforce training, and export market expansion.
The results reflect the effectiveness of this approach. By the end of June 2026, Phu Tho had attracted nearly US$1.8 billion in FDI, five times higher than in the same period last year. The province is home to 747 FDI projects with total registered capital of more than US$15 billion from 28 countries and territories.
Alongside strong investment growth, the province has maintained its position as one of Vietnam's leading exporters. In 2025, Phu Tho's exports reached about US$42 billion, ranking fourth nationwide. This provides a solid foundation for expanding markets and deepening its participation in global supply chains.
For the business community, these figures reflect the growing attractiveness of the province's investment environment and the effectiveness of its international promotion and cooperation efforts. As its international cooperation network expands, businesses gain greater access to customers, partners, advanced technologies, and global investment capital.
Alongside economic diplomacy, Phu Tho is also promoting the province's cultural values through cultural diplomacy, people-to-people exchanges, and stronger ties with more than 13,000 people from Phu Tho living, studying, and working abroad. This is an important resource for promoting the province's image, attracting investment, and expanding international partnerships.
In the coming period, the province has identified three priorities for international cooperation. The first is attracting high-quality FDI, with a focus on projects using advanced technology, creating high added value, and promoting environmentally friendly production.
The second is expanding cooperation in science, technology, innovation, digital transformation, green transformation, and high-quality workforce development to build a foundation for long-term growth.
The third is strengthening connections in markets, logistics, tourism, and people-to-people exchanges, creating more opportunities for businesses to expand production and improve competitiveness.
To achieve these goals, Phu Tho's leadership has called on the Ministry of Foreign Affairs and Vietnam's overseas representative missions to continue supporting the province by connecting strategic investors, providing market information and forecasts, helping businesses access global supply chains, and identifying new cooperation opportunities.
By placing businesses at the center of its external promotion efforts while focusing on attracting high-quality investment and expanding export markets, Phu Tho is steadily strengthening its position as a new growth hub and creating a stronger foundation for local businesses to improve competitiveness and integrate more deeply into global value chains.
By Huong Hau, Vietnam Business Forum
