The driving force behind double-digit growth targets.

In the first few months of 2026, Phu Tho province's economic picture continued to show many positive signs. The industrial production index increased by over 26%; total retail sales of goods and consumer service revenue increased by more than 13%; and budget revenue reached over 22,000 billion VND by the beginning of May. Notably, FDI inflows into the province reached over 1.2 billion USD, approximately six times higher than the same period last year. These figures demonstrate that Phu Tho's double-digit growth target is not just on paper, but is gradually taking shape through concrete economic movements.

By 2025, the province's GRDP is projected to increase by 10.52%, exceeding the government's target and placing it among the leading provinces in the Northern Midlands and Mountains region. The economic scale will reach over 412,000 billion VND, elevating Phu Tho to the group of localities with the largest GRDP in the country.

Haesung Vina Co., Ltd. (Khai Quang Industrial Park) is one of the efficient FDI enterprises, providing employment for thousands of workers with stable incomes.

Significantly, this result was achieved while the province was simultaneously undertaking many major tasks: reorganizing administrative units, restructuring the apparatus, adjusting development plans, addressing bottlenecks related to land, site clearance, and construction materials... Therefore, growth is not simply a matter of economic indicators but also reflects the governance capacity, adaptability, and resilience of the entire system.

According to economic experts, achieving double-digit growth has never been an easy task. With the GRDP already exceeding 412 trillion VND, every 1% increase requires enormous resources. This means that to achieve an 11%-12% growth rate, the province cannot continue its extensive development as before, but must restructure its growth drivers towards a more modern and efficient direction.

In reality, recent times have shown that Phu Tho is clearly forming new growth engines. Industry continues to play a leading role with a growth rate of approximately 15% - 16%, contributing nearly three-quarters of the overall GRDP growth. While previously, when mentioning Phu Tho's industry, many people often thought of construction materials, textiles, or traditional processing, the structure is now shifting strongly towards electronics, high-tech components, and precision mechanics. A series of large projects by foreign corporations are continuously expanding investment in industrial parks such as Ba Thien, Thang Long Vinh Phuc, and Tam Duong, creating a significant ripple effect.

In 2025, Phu Tho province is expected to attract US$1.5 billion in foreign direct investment (FDI), reaching 143% of the target; and domestic direct investment (DDI) reaching VND 260.5 trillion, 3.6 times higher than in 2024. In the first four months of 2026, FDI attracted over US$1.2 billion, six times higher than the same period last year and reaching 75% of the annual target. Simultaneously, DDI attracted over VND 11.4 trillion, equivalent to 30% of the same period last year and 13.2% of the annual target. By the end of April 2026, the province will have 1,850 newly registered businesses (a 45% increase compared to the same period last year) with a total capital of over VND 16,000 billion (a 25% increase compared to the same period last year).

Behind the figures lies a whole process of improving the investment environment, promoting administrative reform, digital transformation, and removing obstacles for businesses. Recently, during a dialogue between the Phu Tho provincial government and representatives of FDI enterprises operating in the area, Mr. Lee Jong Young - General Director of Haesung Vina Vinh Phuc Co., Ltd. (Khai Quang Industrial Park) shared that what most businesses care about is not only incentives, but also the speed of processing procedures, the support of the government, and infrastructure connectivity. These are also the factors that Phu Tho is focusing on improving.

However, rapid growth always comes with great pressure. A sustainable economic development cannot rely solely on FDI or manufacturing. What is crucial is the domestic economy's capacity to absorb capital, the ability of domestic businesses to connect, and the quality of its human resources.

Currently, many small and medium-sized enterprises (SMEs) in the province remain outside the supply chains of large corporations. The proportion of high-tech businesses is limited; and labor productivity is uneven across different regions. These are bottlenecks that, if not addressed soon, will lead to growth lacking depth.

Another noteworthy fact is the pressure to disburse public investment. In 2026, the province's total public investment plan reached nearly 22,000 billion VND, but only about 15% was disbursed in the first quarter. This figure shows that many projects are still behind schedule due to land acquisition issues, procedural obstacles, or implementation capacity limitations. In the context of double-digit growth being identified as a key political priority, if public investment capital is not unlocked in a timely manner, it will be difficult to create a driving effect for the economy.

In reality, in many localities, where the leader is decisive, the project progresses significantly. This highlights the need to further tighten public service discipline and enhance individual responsibility, especially in areas related to land, planning, and investment.

One positive point is that, alongside economic growth, Phu Tho is focusing on the quality of development. The rate of online application processing has reached over 91%; 100% of commune and ward centers are covered by 5G. This clearly reflects the trend towards a modern governance model. As digital government is promoted more strongly, the investment environment will become more transparent, the time costs for businesses will decrease, and the competitiveness of the locality will also improve.

In the growth scenario for the period 2026-2030, the province aims for a GRDP growth rate of approximately 11%-12% per year. This is a high target, but it is achievable. The most important issue now is transforming aspirations into concrete actions; turning resolutions into practical progress for each sector, each locality, and each official implementing the plan.

Ultimately, double-digit growth isn't just about having more impressive statistics. What people and businesses expect is a better living environment, more job opportunities, higher incomes, and a truly service-oriented administration. The aspiration for development only truly has meaning when people feel the changes in their daily lives. This is also the clearest measure of the quality of growth in a locality entering a new development cycle.

Quang Nam

Source: https://baophutho.vn/dong-luc-cho-muc-tieu-tang-truong-hai-con-so-254233.htm