PHU THO STEPS UP INVESTMENT PROMOTION IN SHANGHAI – REALIZING DEVELOPMENT ASPIRATIONS IN THE NEW ERA

Mr. Tran Duy Dong, Chairman of the Phu Tho Provincial People's Committee, presided over the meeting and investment promotion session with representatives from 39 major enterprises and leading corporations based in Shanghai. This event served as a practical economic diplomacy activity, embodying the spirit that "economic diplomacy must act as a spearhead, directly serving national development and deepening foreign relations to ensure they are substantive and effective".

In his opening remarks, Chairman Tran Duy Dong emphasized that following the implementation of the policy to reorganize and streamline the administrative apparatus—in accordance with Resolution 18-NQ/TW and the conclusions of the Party Central Committee—Phu Tho Province was formed through the merger of the former provinces of Phu Tho, Vinh Phuc, and Hoa Binh. The new province constitutes an administrative unit covering over 9,300 km² with a population exceeding 4 million, ranking 15th in area and 11th in population nationwide. This stands as vivid proof of the Party's strategic vision to reorganize development spaces and create regional economic "engines" capable of competing effectively amidst deep international integration. Situated along the Kunming – Lao Cai – Hanoi – Hai Phong – Quang Ninh economic corridor, Phu Tho serves as a vital gateway connecting Southwest China with Northern Vietnam. This geostrategic position offers a unique opportunity for Vietnam to transform its geography into a competitive advantage and turn potential into tangible development.

With an increasingly robust investment ecosystem—featuring 57 planned industrial zones (30 of which cover over 5,800 hectares), synchronized infrastructure, and ready-to-use land, Phu Tho province has attracted 742 FDI projects with a total capital of nearly 14 billion USD. Notably, within the framework of the continuously strengthening Vietnam-China Comprehensive Strategic Partnership, Chinese investors account for 180 projects totaling 3.57 billion USD, representing approximately 26% of the province's total FDI. Prominent examples include the BYD Vietnam electronics plant (with an investment of 411 million USD) and active expansion plans by major corporations such as Pacific Construction Group, JD, and Geely; these developments vividly demonstrate the international business community's confidence in the local investment environment.

This reality underscores the soundness and timeliness of the Party's policy regarding "economic and trade cooperation as a solid pillar and key driving force in the Vietnam-China Comprehensive Strategic Partnership," thereby contributing to making the bilateral relationship increasingly substantive and sustainable. At the conference, participants focused their discussions on priority investment sectors, including high-tech industries, electronics, semiconductors, and precision engineering; the automotive and electric motorcycle industries; new materials; renewable energy; research and development centers; logistics; and specialized high-tech industrial parks. This initiative directly translates the spirit of the Politburo’s Resolution 57-NQ/TW into action – a resolution regarding which General Secretary To Lam has particularly emphasized: "Science, technology, innovation, and digital transformation are not merely choices but the vital path for our nation to rise up in the 21st century". Phu Tho Province is determined to take the lead in realizing this policy within its territory.

Chairman Tran Duy Dong affirmed that Phu Tho province identifies administrative reform as a strategic breakthrough, aiming to build an administration that is upright, transparent, and effective—one that consistently stands alongside investors from the promotion stage through to project implementation. The province applies the highest level of investment incentives permitted under Vietnamese law, fostering a safe, stable, and business-friendly environment. This aligns with the guidance General Secretary To Lam has frequently given to local authorities: "Officials must be public servants; the administration must serve as a pillar of support for citizens and businesses, not a barrier".

The province aims to become a regional hub for industry, commerce, logistics, healthcare, and high-quality training by 2030, and to evolve into a modern urban area with a prosperous society by 2045. These goals are fully consistent with the national development objectives for the mid-21st century set by the Party's 14th National Congress.

The meeting and investment promotion event with 39 major enterprises from Shanghai was not merely an economic activity. It served as tangible proof of the Vietnam-China comprehensive strategic partnership deepening in substance and effectiveness – reflecting the spirit consistently affirmed by the top leadership of both Parties and States.

Many Shanghai enterprises expressed keen interest and highly valued Phu Tho’s investment potential and business environment, committing to further explore opportunities and implement cooperative projects in the near future. The 2026 Investment Promotion Conference in Shanghai promises to unlock significant new opportunities for cooperation, helping to position Phu Tho as an attractive destination for domestic and international investors, thereby generating momentum for comprehensive, sustainable economic growth and fulfilling the province's role as a key economic driver during the Vietnamese nation's era of rising strength.