In the first eight months of 2024, total FDI in Phu Tho reached 80.697 million USD, attracting 12 newly registered projects and 10 projects with capital adjustments.
Cumulative total FDI in Phu Tho reaches 3.41 billion USD
In the first eight months of 2024, Phu Tho province attracted total foreign direct investment (FDI) of 80.697 million USD, including 12 new projects with registered capital of 71.133 million USD, 10 projects with increased capital totaling 8.913 million USD, and one capital contribution and share purchase transaction worth 0.65 million USD. As of now, Phu Tho has attracted 235 FDI projects with a cumulative total capital of 3.41 billion USD.
Notably, Phu Tho is gradually becoming an attractive destination for international investors, particularly in the province’s priority sectors such as processing and manufacturing, electronic component assembly, renewable energy, and high-end textiles. FDI investors in Phu Tho mainly come from South Korea, China, and Japan, along with other countries such as Singapore, the US, the UK, and India.
BYD factory at Phu Ha Industrial Park – Phu Tho
Some major FDI projects in Phu Tho include the electronic component manufacturing project by BYD Company (China) with an investment of 269 million USD, the solar panel manufacturing project by VSUN (Japan) worth 200 million USD, the high-end fashion garment factory project by Yida with an investment of nearly 113 million USD, and the Regent Vietnam textile project with a total capital of 180 million USD.
Phu Tho aims to become Vietnam’s industrial hub
In 2024, Phu Tho set a target of reaching a total investment of approximately 50 trillion VND (~ over 2 billion USD), with newly registered and adjusted FDI capital expected to reach between 500 and 600 million USD. To achieve this goal, Phu Tho has implemented several investment attraction policies, such as streamlining administrative procedures, addressing challenges for investors, and creating the best possible conditions for projects to be implemented quickly. The province is also focused on improving its Provincial Competitiveness Index (PCI) with the goal of being among the top 15 out of 63 provinces and cities in the country by 2025.
At the same time, Phu Tho has been developing a strategy to enhance its high-quality workforce by assigning specific training targets to educational and vocational institutions to supply skilled labor for key industries and priority investment sectors. The province is also focusing on transportation infrastructure investments and planning the development of industrial parks (IPs). By 2030, Phu Tho plans to develop 12 IPs covering a total area of 5,095 hectares and over 40 high-tech zones covering an area of 7,600 hectares. These efforts aim to create a favorable investment environment, continue building trust with FDI enterprises, and effectively attract investment.
