High-tech projects, promoting industrial development in the new Phu Tho province

After implementing the policy of merging the provinces of Vinh Phuc, Phu Tho and Hoa Binh into one administrative unit of Phu Tho province (new), restructuring and economic development towards industrialization and modernization has become the focus in the development orientation of the province. In particular, Vinh Phuc province plays a core role in attracting investment, especially high-tech projects, in order to create new growth momentum and spread development evenly throughout the region.

Báo Vĩnh Phúc•30/06/2025

A strategic destination for high-tech investors.

With its strategic geographical location, increasingly improved infrastructure, and flexible investment attraction policies, Vinh Phuc province has successfully welcomed many large corporations, including giants like Toyota, Honda, Piaggio, and more recently, technology companies from South Korea, Japan, and the United States.

Industrial zones such as Ba Thien, Khai Quang, Thang Long Vinh Phuc... are constantly expanding and upgrading to anticipate the new wave of investment. Fields such as electronic component manufacturing, automated equipment manufacturing, automotive technology, robotics, and AI are gradually replacing traditional industries, putting Vinh Phuc on the national map of high-tech industries.

Thien Quang Electronics Joint Stock Company (Binh Xuyen Industrial Park) specializes in manufacturing security cameras and dashcams for the global market.

Recognizing its leading role in the post-merger industrial development process, Vinh Phuc has proactively reformed its investment attraction strategy, prioritizing high-tech, environmentally friendly projects with high added value. Preferential policies regarding land, taxes, and investment procedures have been significantly reformed to be more flexible and transparent, creating a favorable environment for domestic and foreign investors.

By the end of 2024, the province had attracted 1,326 investment projects, including 481 FDI projects with a total capital of over US$8.4 billion; and 845 domestic investment projects with a total capital of over VND 145,000 billion. These included many high-tech industrial projects such as: the electronic component manufacturing project of BHFlex Co., Ltd. in Khai Quang Industrial Park; the Korea Circuit Vina project of Korea Circuit and Interflex Vina in Dong Soc Industrial Cluster; and the HN03 Data Center project ofFPT Telecommunications Joint Stock Company…

Regional linkages create new drivers of development after mergers.

After the merger, the (new) Phu Tho province has a larger population and area, possessing many potentials and advantages for developing multi-sector industries. In particular, Vinh Phuc, with its strategic location near Hanoi and developed transportation infrastructure (Noi Bai – Lao Cai expressway, Ring Road 5, national railway line, etc.), will become a center for the transit and distribution of industrial products for the entire region.

The linkage between the industrial zones of the three provinces will create a complete supply chain network, from assembly industries in Vinh Phuc to supporting industries in Phu Tho and processing industries and agricultural products in Hoa Binh. This inter-regional economic structure will create momentum for balanced development, reduce regional disparities, and effectively exploit local resources.

Ba Thien II Industrial Park (Binh Xuyen) attracts many high-tech projects.

Beyond simply attracting investment, Vinh Phuc province is also orienting its industrial development towards smart, green, and sustainable urban planning. New industrial zones are designed as integrated industrial, urban, and service areas, aiming to attract high-quality human resources and create favorable living and working conditions for experts and workers.

In addition, Vinh Phuc is promoting the development of research and development (R&D) centers, cooperating with institutes, universities, and FDI enterprises to gradually form an innovation ecosystem, making high-tech industry a pillar of the new Phu Tho province's economy.

By 2030, Vinh Phuc province aims to attract at least 20 new high-tech projects with a total investment of over 5 billion USD; the proportion of processing and manufacturing industries in the province's GRDP will reach over 50%; the rate of trained labor will reach 80%; and the average industrial production value per capita will reach the highest level in the Northern Midlands and Mountains region.

With strong political determination, clear development orientation, and an attractive investment environment, Vinh Phuc is gradually asserting its role as the leading industrial hub of the newly merged Phu Tho province, making a significant contribution to sustainable and inclusive development throughout the region.

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