Local businesses flexibly adapt to new situations

After more than 3 months since Phu Tho province officially came into operation with an expanded scale, the business community in the area has clearly demonstrated the spirit of initiative, creativity and quick adaptation to the new economic - administrative context. From industrial production to trade, services, tourism, businesses are all looking for suitable directions, creating momentum for stable growth in the fourth quarter of 2025.

Over the past 3 months, Phu Tho's economy has recorded many positive signals from the business sector. According to statistics, as of mid-October 2025, the whole province has more than 35,000 operating enterprises, of which over 1,200 were newly established since July 1, 2025, an increase of nearly 12% over the same period in 2024. The total newly registered capital reached more than VND 12,000 billion, clearly reflecting the confidence and expectations of investors in a transparent and unified business environment after the merger. Industrial parks and clusters such as Phu Ninh, Viet Tri, Vinh Tuong, Lac Thuy, and Luong Son have become bright spots as many enterprises have stepped up production expansion.

In addition to traditional manufacturing enterprises, the service, trade and logistics sectors have also grown strongly. Transport and warehouse enterprises in Viet Tri and Hoa Binh are taking advantage of the new infrastructure system connecting to the Noi Bai - Lao Cai and Hoa Binh - Moc Chau highways to expand their markets. The proportion of logistics services in the total revenue of enterprises in the whole province increased by nearly 10% over the same period, contributing to significantly reducing the cost of goods circulation in mountainous areas.

Despite many difficulties, Phu Tho enterprises still adapt flexibly to ensure stable jobs with good income for workers.

The highlight is that local businesses are proactively transforming digitally and restructuring their management. About 65% of small and medium-sized enterprises have applied electronic invoices, managed online sales or made cashless payments. In the agricultural and food sector, more than 300 businesses and cooperatives have connected to the Phu Tho Green E-commerce Platform, helping online channel revenue increase by an average of 25% compared to the previous quarter. Models such as Long Coc Tea Cooperative and Tam Nong Agricultural Products Joint Stock Company are showing the new momentum of the digital agricultural economy.

Along with the dynamism of enterprises, state management agencies also strive to improve the investment environment. Since July 2025, the province has implemented many flexible solutions, thereby shortening the time for processing investment procedures and business registration by 30%.

The Department of Finance has built a unified enterprise data system, linked with banks and the State Treasury, helping enterprises pay taxes, fees and make financial reports completely online. The Provincial Enterprise Support and Development Center has also been improved, becoming a focal point for investment consulting, digital transformation and trade promotion for enterprises.

Thanks to that, the province's production and business activities have improved a lot. The estimated value of industrial production in the 9 months after the merger is about 87,000 billion VND, up 9% over the same period; retail sales of goods and consumer services are estimated at 55,500 billion VND, up 11%. Export turnover reached 1.32 billion USD, up 14%, of which textile products, electronic components and wooden furniture account for more than 70%.

Along with domestic enterprises, the FDI sector has also shown a clear recovery. Since July, 14 FDI projects have registered for expansion in the Trung Ha, Tam Nong, and Ba Thien - Binh Xuyen Industrial Parks with a total additional capital of over 600 million USD, mainly in the fields of electronics, food processing, and auto components. The presence of Korean, Japanese, and Singaporean investors not only brings new technology but also creates a production and consumption chain in the province.

However, many businesses still face difficulties, especially in the cost of raw materials, lack of skilled labor, and access to credit. However, instead of being passive, most businesses have shifted to supply chain cooperation, investing in technological innovation, and reducing emissions. This is considered a sustainable direction in the green-digital transformation phase that the province is strongly promoting.

According to the leader of the Department of Finance, “After the merger, Phu Tho’s economic scale has expanded, but more importantly, the province has a flexible system of local enterprises that know how to take advantage of opportunities from the strongly recovering domestic market. This is an important driving force for growth in 2026.”

Towards 2026, the province has identified the focus as building a competitive, friendly and transparent investment environment; supporting 500 enterprises in digital transformation, 100 enterprises in implementing green and circular production models. New industrial zones and clusters such as Phu Ninh expansion, Son Tay - Thanh Thuy, Vinh Tuong - Lap Thach have been invested in synchronous infrastructure, ready to welcome supporting industry and deep processing projects. The provincial government maintains regular dialogues with enterprises, promptly removes difficulties, fosters trust and a spirit of long-term companionship.

The proactiveness, flexibility and aspiration of the business community are becoming an important foundation for the growth of the new Phu Tho. From industry, trade, services to high-tech agriculture, local businesses are gradually asserting their position, contributing to making Phu Tho a dynamic industrial - service center of the Northern midland and mountainous region, worthy of being a new bright spot on the regional economic development map.

Quang Nam

Source: https://baophutho.vn/doanh-nghiep-dia-phuong-linh-hoat-thich-ung-tinh-hinh-moi-241183.htm