Accompanying the province's development.

Over the years, the business community and entrepreneurs in the province have made rapid progress in both quantity and quality; actively innovating, being flexible in investment, expanding production and business scale, and making important contributions to the socio-economic development of the province.

During the period 2020-2025, the province's average economic growth rate is projected to reach 7.5% per year, higher than the average for the 2016-2020 period (7% per year) and higher than the national average (6.3% per year). The size of the economy is expected to reach over 354 trillion VND in 2024, and is projected to reach 390 trillion VND in 2025 (ranking 6th out of 34 provinces and cities), 1.56 times higher than in 2020. The average GRDP per capita in 2025 is estimated at 105.2 million VND, an increase of 1.48 times compared to 2020. The economic structure will continue to shift positively; by the end of 2025, the industrial and service sector is estimated to account for approximately 86.8%, and the agriculture, forestry, and fisheries sector for approximately 13.2%.

The business community and entrepreneurs in the area have played a significant role in this success. These businesses not only generate substantial revenue for the state budget but also create jobs for hundreds of thousands of local workers, actively participate in social welfare activities, and contribute to building Phu Tho province into an increasingly innovative, rapidly developing, and sustainable region.

For example, Toyota Motor Vietnam (Toyota), which has been present in the province since 1995, has continuously grown and become one of the leading automobile manufacturers in the Vietnamese market. This success not only brings economic benefits to the company but also promotes the supporting industries, creating a strong ecosystem that contributes to the socio-economic development of the province.

Since its establishment, Toyota Motor Vietnam has contributed more than $14.4 billion to the state budget.

Mr. Nakano Keita, General Director of Toyota Motor Vietnam, shared: "In Toyota's development strategy, all goals are geared towards building a better community and society. To fulfill this goal and commitment, since its establishment, Toyota has contributed over US$14.4 billion to the state budget. In the first six months of 2025 alone, this reached over US$454 million, nearly three times higher than the same period last year. Currently, Toyota provides direct employment for nearly 1,500 workers, of which almost 50% are local residents. The company is also implementing many community and social welfare activities, from ensuring traffic safety and protecting the environment to promoting culture and education , aiming to improve the quality of life for local people."

Mr. Nakano Keita highly appreciated the current investment and business environment in Phu Tho. The support of the local government is a crucial factor that gives Toyota confidence in making long-term investments. Toyota's success is proof of the strong, mutually beneficial relationship between businesses and localities.

Phu Tho's success today is marked by close cooperation between the government and businesses. The province consistently strives to improve the quality of governance at all levels; provincial leaders are always open-minded and supportive of businesses and investors throughout the investment exploration and project implementation process, focusing on promoting administrative reform, digital transformation, and providing on-site support to investors; promptly resolving difficulties and obstacles and creating the most favorable conditions for investors to stabilize and develop...

With a favorable investment and business environment, over the past five years (2020-2025), the province has attracted nearly 600 domestic investment projects with a registered capital of over 171,000 billion VND and 230 FDI projects with a registered capital of over 3.5 billion USD. 12,800 new businesses were established, bringing the total number of operating businesses in the province to nearly 41,000.

After the merger, Phu Tho has greater potential and space for economic development. The goal by 2030 is for Phu Tho to become one of the growth poles of the Capital Region; a center for the development of industry, trade, logistics, tourism, healthcare, high-quality education, and the organization of major cultural festivals linked to the nation's origins; a center for organizing national and international events; with a GRDP growth rate at constant prices of approximately 11-12% per year during the 2026-2030 period. GRDP per capita is expected to be around 220-230 million VND; the contribution of Total Factor Productivity (TFP) to growth during the 2026-2030 period is projected to be around 55-60%; the contribution of the digital economy to GRDP is expected to exceed 30%; there will be virtually no more poor households according to the multidimensional poverty standard; the urbanization rate will reach 35-40%; and the infrastructure will be synchronous and modern.

To achieve the above objectives, the province focuses on developing economic sectors and creating equality among different types of businesses to attract investment resources. Accordingly, Phu Tho commits to creating the most transparent, stable, and favorable investment environment; investing strongly in transportation infrastructure, logistics, and renewable energy to support production development; coordinating with businesses in training high-quality human resources to meet the requirements of new technologies... Especially, policies on administrative procedure reform aim to reduce time and costs for businesses; publicly disclosing land use plans and supporting businesses in land clearance; promptly resolving difficulties, feedback, and suggestions from people, businesses, and households; and promoting online and remote inspection activities...

Tran Tinh

Source: https://baophutho.vn/dong-hanh-cung-su-phat-trien-cua-tinh-240846.htm