PHU THO TARGETS US$1.1 BILLION FDI IN 2026

Workers assemble electronic components at a manufacturing facility in Vietnam - PHOTO: VNA

HCMC – Phu Tho Province aims to attract more than US$1.1 billion in foreign direct investment (FDI) and about VND70 trillion in domestic capital in 2026.

The northern province sees investment attraction as a key growth driver, with a shift from volume to project quality.

In 2025, Phu Tho drew about US$1.51 billion in FDI and nearly US$10 billion in domestic investment. It is currently home to 735 FDI projects worth around US$13.2 billion from 27 countries and territories.

South Korea is the largest investor, with nearly US$5 billion in registered capital, accounting for about 53% of projects and 40% of total FDI. Companies such as Daewoo Bus, Partron Vina, Interflex and Haesung Vina employ nearly 200,000 workers.

A delegation from the Gyeonggi Province Chamber of Commerce and Industry visited Phu Tho earlier this year to assess the investment environment and industrial parks. The visit resulted in several cooperation agreements to support medium- and long-term projects.

Local authorities plan to improve the business environment, accelerate administrative reforms and shorten investment approval times. Digital tools will be expanded in handling procedures for businesses and investors.

The province will prioritize infrastructure development in industrial zones, including transport links to expressways and regional economic corridors. It will also prepare cleared land and upgrade electricity, water and logistics systems to support large projects.

Investment promotion will target strategic partners from South Korea, Japan, Singapore and Thailand, alongside stronger post-licensing support for investors.

Priority sectors include electronics, semiconductors, supporting industries, logistics, renewable energy and green manufacturing, as part of plans to build a more sustainable industrial base.

Source: The Saigon Times