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.
Mr. Nguyen Manh Son, Deputy Secretary of the Phu Tho Provincial Party Committee, speaks at the Conference on Investment Promotion from the Russian Federation into Phu Tho Province.
Expanding Markets, Attracting Investment
On September 1, 2026, in Moscow, the Phu Tho provincial delegation led by Nguyen Manh Son, Deputy Secretary of the Provincial Party Committee, held an investment promotion conference. The event drew more than 100 representatives from diplomatic missions, business associations, enterprises, and major investors in the Russian Federation.
The conference took place as the long-standing friendship between Vietnam and the Russian Federation continues to provide a solid foundation for expanding economic, trade, and investment ties between the two countries' business communities. For Phu Tho, this initiative represented a proactive effort to secure new sources of capital, broaden its international network of partners, and make effective use of its expanded development space following recent administrative restructuring.
Speaking at the conference, Nguyen Manh Son said that Phu Tho has substantial development space and strong advantages in infrastructure, industry, transportation, and services. In 2025, the province achieved an economic growth rate of 10.52%, ranking fourth nationwide. This performance provides a solid foundation for the province to further strengthen its competitiveness and enhance its appeal to domestic and foreign investors.
Notably, the province boasts a comprehensive industrial infrastructure system developed on a large scale. The province has 58 industrial parks, 28 of which are operational, covering 5,832.49 ha, alongside 66 industrial clusters spanning 3,075.54 ha. Prepared industrial land and integrated infrastructure enable the province to accommodate large-scale, high-tech, and high-value-added projects.
Phu Tho's advantages extend beyond its available industrial land. The province sits directly along the Kunming-Lao Cai-Hanoi-Hai Phong-Quang Ninh economic corridor, with direct connections to Hanoi, Noi Bai International Airport, and Hai Phong Port. Its integrated transport network, combining road, rail, and inland waterways, creates favorable conditions for manufacturing, trade, logistics, and supply chain development. These strategic advantages offer clear benefits to Russian enterprises seeking production bases, cargo transit hubs, and opportunities to expand across Vietnam and the broader region.
At the conference, Phu Tho focused on introducing sectors prioritized for Russian investment, including high-tech industries, supporting industries, and green manufacturing; infrastructure, logistics, trade, and modern services; and tourism, hospitality, culture, and healthcare.
Provincial leaders said that investment attraction will prioritize quality over quantity, focusing on projects aligned with long-term development goals that utilize modern technology, generate high added value, and are environmentally friendly.
Delegates at the Phu Tho Investment Promotion Conference in Russia, September 1
From Investment Promotion to Specific Projects
A central feature of the conference was Phu Tho's strategy of placing businesses at the heart of investment attraction and cooperation. Rather than merely presenting its potential and strengths, the province outlined specific commitments to improve the investment environment and assist investors.
"Business success is the province's success" was presented as the guiding principle of Phu Tho's investment promotion activities. In line with this, the province is committed to establishing a transparent investment environment, simplifying administrative processes, and providing sustained support to investors.
Vice Chairman of the Phu Tho Provincial People's Committee Quach Tat Liem said that the province intends to offer the maximum incentives allowed by law while accelerating digital transformation in investment procedures. A single-window system paired with a "Green Lane - Fast Track" mechanism is being deployed to cut investment licensing time by 50%.
Importantly, provincial assistance spans the entire project lifecycle, from site surveys and dossier preparation through administrative processing to project operation. Assigning a dedicated point of contact to assist investors will reduce the need for enterprises to navigate separate procedures across different agencies.
This approach demonstrates Phu Tho's transition from merely "inviting investment" to actively "accompanying investors," treating business service quality and the ability to turn commitments into practical results as key factors in its investment appeal.
During the conference, Russian enterprises directly raised questions regarding legal procedures, industrial park infrastructure, and preferential policy frameworks. Direct responses and open dialogue from provincial leaders are expected to build stronger confidence among Russian businesses exploring cooperation in Phu Tho.
Vietnamese Ambassador to the Russian Federation Dang Minh Khoi commended the proactive outreach of Phu Tho's leadership in engaging the Russian market. He affirmed that Vietnam's diplomatic mission would continue acting as a bridge to facilitate connections, information exchange, and the resolution of issues for businesses from both nations throughout the cooperation process.
For Phu Tho, the true success of investment promotion is measured not by the number of meetings or the scale of conferences, but by the tangible projects and partnerships forged following the event.
This priority was underscored by provincial leadership, who instructed local departments and agencies to maintain regular contact with Russian partners, deliver timely information, facilitate site surveys and field research, and focus on resolving legal and procedural barriers.
Backed by expanded development capacity, large-scale industrial infrastructure, strategic regional connectivity, and a selective investment attraction strategy, Phu Tho is well-positioned to attract international capital flows, including investment from the Russian Federation.
Ultimately, this proactive investment promotion effort in Moscow reflects the province's commitment to deepening Vietnam-Russia economic ties by linking bilateral cooperation more closely with business communities and specific investment projects.
By Thanh Nam, Vietnam Business Forum
