On November 6, 1996, the 10th Session of the 9th National Assembly issued a resolution to divide Vinh Phu province to re-establish Phu Tho province and Vinh Phuc province. Nearly 30 years have passed, the two "brother" provinces of Vinh Phuc and Phu Tho are currently developing strongly in industry.
As a province located in the planning of the Hanoi capital area (adjacent to the North of Hanoi), the Northern key economic region; located near Noi Bai airport and has a convenient transportation system... for many years, Vinh Phuc has been on the list of the most developed industrial areas in the North.
After nearly 30 years of re-establishing the province, Vinh Phuc's industrial parks and clusters have "covered the airwaves" in most districts and towns in the area. From having only 8 FDI projects (foreign direct investment projects), 1 DDI project (private investment projects), 1 industrial park established in 1998, by the end of 2024, 481 FDI projects with a total investment capital of more than 8.4 billion USD, 845 DDI projects with a total investment capital of over 145,000 billion VND have been attracted.
In 2024, the production index of key and advantageous industries of Vinh Phuc province will increase, especially the electronic components manufacturing industry will continue to be the main growth driver of the province with an increase of 17.92%; the non-metallic mineral product manufacturing industry will increase by 5.98%; the metal manufacturing industry will increase by 19.61% over the same period in 2023...
From a purely agricultural province when it was first re-established, receiving budget subsidies from the Central Government, Vinh Phuc is now a locality with a budget revenue in the top 10 nationwide. In 2024, domestic revenue will reach over VND26,000 billion; together with revenue from the customs sector, the total state budget revenue in 2024 will reach VND31,600 billion. This is the second year that total state budget revenue in Vinh Phuc province has exceeded the 30,000 billion VND mark.
For Phu Tho province, with the advantage of being located in the center of the Northern mountainous region and being a bridge between the Northwestern provinces and the Red River Delta, Dat To has become one of the bright spots in attracting investment in the midland and mountainous provinces of the North in recent years.
After being re-established as a province in 1997, from a concentrated industrial park of Thuy Van Industrial Park with an area of 335 hectares, Phu Tho has now had 4/7 industrial parks put into operation and invested in infrastructure, along with more than 20 industrial clusters scattered across districts and cities, attracting hundreds of FDI and DDI projects.
In just 4 years (from 2020 to the end of 2024), Phu Tho has attracted more than 500 DDI projects with a total registered capital of VND54 trillion, 90 FDI projects with a total registered capital of 1.5 billion USD (new investment and additional capital). In 2024 alone, Phu Tho has successfully attracted 32 new FDI projects with a total registered capital of more than 270 million USD. During the year, industrial production continued to maintain a high growth rate, up 16.4%; the index of processing and manufacturing industrial production increased by 42.1%, among the groups with the highest growth rate in the country.
According to a new report published by the Statistics Office (Ministry of Finance) on March 6, Phu Tho's entire industrial production index (IIP) in the first two months of 2025 achieved an impressive growth rate of 47.3% over the same period last year, the highest in the country. This is a remarkable result in the context of the country's industrial production continuing to recover with an overall increase of 7.2%, higher than the increase of 6.5% in the same period in 2024.
