Phu Tho Province Accelerates Growth with Investor Support, Attracting Major Projects Through Swift Procedures

Phu Tho Province in northern Vietnam is prioritizing collaboration with investors and implementing swift administrative procedures as key strategies to drive regional economic growth. The province has set an ambitious goal of achieving 11% economic growth by 2026, recognizing that attracting and supporting domestic and foreign investment is crucial for its realization. The Provincial Investment Promotion and Business Support Center has adopted new working methods and a professional service approach to foster close ties with investors. The center plays a vital role in gathering and consolidating challenges and issues that arise during project implementation, providing recommendations to the Provincial People's Committee. It also collaborates with relevant departments and industrial park management boards to promptly and effectively address numerous investor requests. Proactive consultation and procedural guidance are being offered to strategic investors such as Sumitomo, Amata, Toyota, YCH Singapore, BYD Electronics, Tap Doan KX, and Hai Phong Group during their site surveys and investment preparation phases. A prime example of success is the Doan Hung Industrial Park project, led by Thailand's Amata Group. Following a project proposal in August 2025, the Provincial People's Committee issued an investment registration certificate in December of the same year. Provincial leadership has consistently monitored on-site progress and supervised land compensation and resettlement efforts. The development of connecting roads to the industrial park has also been prioritized. On June 18, 2026, Amata Vietnam officially launched the Doan Hung Industrial Park project, with a total investment of USD 185 million, realized just one year after its proposal. Ms. Somhatai Panichewa, CEO of Amata Vietnam, highlighted Phu Tho Province's favorable transportation infrastructure, abundant population, ample land, and the local government's support as significant factors in the project's swift progression. Furthermore, the MEIKO Yen Quang electronic board manufacturing plant project, a USD 500 million investment by Japan's leading electronic component manufacturer MEIKO Group, benefited from a "green lane" special fast-track procedure. On April 8, 2026, following the investor's request, the Chairman of the Provincial People's Committee designated this project for special support, issuing the investment registration certificate within 48 hours. Mr. Tsuchibashi Akito, General Director of MEIKO Electronics Vietnam, expressed gratitude for the proactive and effective support from relevant agencies, noting that the expedited procedures prevented project delays. While supporting investors, Phu Tho Province is also frankly addressing challenges within certain projects. For instance, issues related to a cold-water aquaculture project for tourism and accountability for involved parties have been highlighted. However, the government is actively seeking solutions and fostering a cooperative environment that emphasizes transparency and efficiency. This dual approach of government support and addressing challenges is contributing to the cultivation of an open, transparent, and effective cooperative environment in Phu Tho Province. Source: Nhan Dan