The economy grew rapidly and steadily.

In the context of many difficulties, Phu Tho emerged as a bright spot in economic growth in the first 9 months of 2025, with the total product in the area (GRDP) estimated to increase by 10.36% over the same period last year. Phu Tho not only affirmed its strong internal strength but also showed the correctness and effectiveness in its direction and management.

This result is the resonance of many factors, in which the processing and manufacturing industry continues to be the locomotive, services recover strongly and agriculture can play a supporting role. However, besides the impressive results, the provincial economy still faces challenges, requiring synchronous and decisive solutions to complete the year's target and create momentum for sustainable development in the future.

According to the assessment of the Provincial Statistics Office, the main pillar of the province's growth is the industrial - construction sector. The added value (VAT) of the industrial sector in the first 9 months of 2025 is estimated to increase by 16.5%, higher than the scenario (15.48%), with the index of industrial products (IIP) increasing by 26.6%. This result shows the strength of the manufacturing sector, despite the general difficult context.

E-businesses contribute to growth.

The province’s core growth driver comes from the electronics component manufacturing industry. With an expected growth rate of 24-25%, the electronics industry has proven to be a driving force. The recovery of export markets such as the US and EU, along with leading FDI corporations continuing to expand production and having stable orders, has created a great driving force.

Besides the electronics industry, the non-metallic mineral products manufacturing industry also recorded a growth potential of 13.5-14%, thanks to the supply of public investment projects and high demand for construction in the population, leading to a 37.76% increase in cement output and a 19.88% increase in tiles.

Other industries also had strong recoveries such as wood processing (up 45.07%) thanks to improved export orders, leather and footwear production (up 22.89%), chemical production (up 26.03%) and exported paper products (up 9.32%).

The construction industry is also an important highlight, achieving a growth rate of over 10%. Promoting the disbursement of public investment capital, especially for regional transport infrastructure projects, health care, and education, has created a favorable environment and great demand, which is an important driving force for the development of the entire industry.

However, the two main manufactured products, automobiles and motorbikes, are facing difficulties, which not only affect some common manufactured products but also directly impact budget revenue, especially special consumption tax (down 14.28%).

The service sector has demonstrated its resilience and adaptability to the pandemic, with an estimated growth of 8.5%, surpassing the scenario (8.32%). Total retail sales of goods and consumer service revenue in the first 9 months reached VND131,431 billion, up 13.92% over the same period. Retail, accommodation, and food and beverage activities all grew in double digits, showing that consumer purchasing power and confidence are recovering strongly.

Meanwhile, the agriculture, forestry and fishery sector, although not meeting the set scenario (up 2.93% compared to the target of 3.26%), still demonstrated its role as a pillar of the economy, ensuring food security. The crop sector achieved feasible results thanks to favorable weather, with grain output reaching 843.7 tons, up 1.68%. However, the livestock sector, accounting for 46.3% of the agricultural structure, suffered heavy losses from African swine fever, significantly slowing down the growth rate of the agricultural sector in the third quarter. This is an urgent problem that requires solutions for disease control, safe herd restoration and conversion of livestock farms towards a more sustainable direction.

The growth rate of 10.36% is a proud achievement, demonstrating the close direction and decision of the Provincial Party Committee and Provincial People's Committee in solving difficulties for businesses, improving the investment environment and promoting administrative reform.

To achieve the 2025 full-year growth target of 10.3%, the fourth quarter needs to achieve growth of over 10.17% - a task that is not easy. The ability to achieve the target depends on the stability and breakthrough of the driving industries.

In the last months of the year, the Provincial People's Committee focused on directing solutions to continue to resolve difficulties for businesses. At the same time, creating the most favorable conditions for "eagles" in the electronics industry and other industries to continue expanding investment and production; speeding up investment progress and project sites.

The early completion and commissioning of infrastructure projects will create new added value and have a spillover effect, stimulating the development of other economic sectors. Continue to effectively exploit domestic market advantages, promote trade and tourism promotion programs to boost growth in the service sector. Strive to complete the socio-economic targets by 2025, creating a solid foundation for a period of rapid and sustainable development.

Le Chung

Source: https://baophutho.vn/kinh-te-tang-truong-vuot-bac-vung-chac-241244.htm