Expanding the investment environment
The change in the investment environment is clearly reflected in the development speed of the business community and capital flows into Phu Tho.
After more than 5 years of investment, BYD Phu Tho, from a scale of a few hundred employees, has grown to more than 17,000 employees, with annual production value exceeding 5 billion USD.
According to Mr. Leo Su, General Director of BYD electronics in Vietnam region, Phu Tho has advantages in location, transportation infrastructure, human resources and industrial land fund, creating favorable conditions for production as well as logistics.
This is not an isolated case. The whole province currently has 747 valid FDI projects, with a total registered capital of over 15 billion USD, from 28 countries and territories.
The FDI sector is contributing over 45% of the annual GRDP growth rate, accounting for about 55-60% of the value of industrial production, 70-75% of total export turnover and creating stable jobs for about 250,000 workers.
These figures show that Phu Tho is not only attracting investment capital, but is gradually forming an industrial ecosystem associated with electronics, precision mechanics, auto and motorcycle components and high-tech industries.
In the first 7 months of 2026, the whole province had more than 3,000 newly established businesses, an increase of 13.4% compared to the same period, with a total capital of more than 35,000 billion VND, an increase of 40%. 730 businesses returned to operation, an increase of 6%. Notably, FDI capital attracted reached more than 1.9 billion USD, about 2.6 times higher than the same period and exceeding 18.9% of the annual plan.
Along with that, the Vietnam SuperPortTM project in Binh Xuyen with a total capital of 300 million USD is expected to create more logistics advantages, paving the way for electronics, electric vehicles and semiconductor components projects.
According to a report by the Provincial People's Committee, in the first 6 months of 2026, Phu Tho's GRDP increased by 10.18%, ranking first in the Northern Midlands and Mountains region, and 7th in the country.
Industry and construction increased by 14.9%, with industry alone increasing by nearly 16%. This result shows that when the investment environment is improved, businesses have more room to expand production, and new capital flows have more reasons to choose Phu Tho.
Creating a path for development
Behind the open investment environment is the transformation in the administration of the government. Instead of just receiving and processing dossiers, Phu Tho is aiming to proactively remove bottlenecks, accompany businesses and projects with spillover effects.
The highlight is the "green channel" mechanism being piloted by the province for key projects. "24-hour green channel" allows receiving, resolving and returning results within 24 hours for some areas; "50% green channel" cuts half of the time to resolve procedures at each stage.
The working group to deploy the "green channel" is directly directed by the leaders of the Provincial People's Committee, and departments and branches are assigned specific responsibilities to each stage.
Thanks to that, the dossier is centrally coordinated, limiting the situation of having to go through many rounds, and at the same time, arising problems are handled immediately during the implementation process.
It is worth mentioning that the "green channel" is not a preferential mechanism or ignoring regulations, but a way to reorganize the process to shorten time within the legal framework.
When procedures are processed faster, the project can be implemented earlier, businesses reduce waiting costs and the government improves service efficiency.
From practice, Phu Tho is also looking directly at the existing bottlenecks, especially the lack of synchronization between technology systems and databases.
The province aims to continue to restructure procedures, standardize electronic processes, strengthen data interconnection, reduce paperwork and eliminate unnecessary intermediaries.
Administrative reform is therefore being placed by Phu Tho in a direct relationship with growth. When the government is constructive, businesses have more confidence; when procedures are shortened, investment opportunities are seized faster; when infrastructure, logistics and the business environment are improved together, local advantages can be transformed into development resources.
Phu Tho's goal for the 2026-2030 period is to attract 7-8 billion USD of new FDI, of which 60-70% belongs to the new generation FDI group, associated with high technology, R&D and sustainable development.
To realize that goal, the "green channel" in administrative procedures needs to continue to be expanded and operate substantively.
From a dossier processing mechanism, the "green channel" is expected to become a new operating mindset: the government not only manages, but proactively creates; not only solves procedures, but also paves the way for businesses and development projects.
That is also the foundation for Phu Tho to maintain its double-digit growth momentum and gradually affirm its position as the growth pole of industry, high technology and green industry in the region.
