Expectations for new development opportunities.

Vinh Phuc, Phu Tho, and Hoa Binh are facing a crucial moment, preparing to enter a historical phase as the three provinces merge to create the new Phu Tho province, possessing a strategic location and immense development potential. Especially when the strengths of each locality are leveraged and complement each other, the new province will have the necessary foundation and power to become a dynamic economic center of the capital region.

A perfect complement and mutual support.

While Vinh Phuc is emerging as one of the prominent industrial growth hubs in the northern region, Phu Tho and Hoa Binh provinces are experiencing strong growth in agriculture , spiritual tourism, and resort tourism, with significant potential.

Specifically, Phu Tho province boasts a cultural, historical, and spiritual center (Hung Temple), extensive orchards and tea plantations, a burgeoning processing industry, and an abundant labor force; while Hoa Binh province has hydroelectric power plants providing a sustainable energy source and significant potential for ecotourism, resort tourism , and unique ethnic cultural experiences (Muong, Thai, Dao, etc.) rich in ethnic identity.

Vinh Phuc's industrial zones are developing rapidly, promising to create a new growth hub for the future Phu Tho province. Photo: Duc Chung

Looking back at their development, all three provinces started as purely agricultural provinces, but thanks to sound development strategies and a willingness to take risks, these localities gradually broke down barriers and boosted their economies with effective levers.

With a thriving industrial base, including high-tech sectors such as automobile and motorcycle manufacturing, electronic component production, and semiconductors, along with synchronized infrastructure and 29 planned industrial parks under development, Vinh Phuc will be the economic engine of the newly merged province. This is because, after the merger, businesses in Vinh Phuc will no longer struggle to find solutions regarding land and labor.

Hoang Long Bien, Head of the Management Board of Industrial Parks in Vinh Phuc province, shared: "With flexibility in attracting investment and a spirit of readiness to stand side-by-side with investors, Vinh Phuc has quickly risen to prominence."

Starting from a purely agricultural province with a budget revenue of less than 100 billion VND, after more than 27 years, Vinh Phuc has joined the group of leading localities in budget revenue, with a superior number of FDI and DDI enterprises. However, with the rapid pace of industrialization, businesses in Vinh Phuc are beginning to face many challenges as land resources become increasingly limited and the workforce becomes increasingly scarce.

The newly established province, with an area of ​​over 9,361 km2 and a population of over 4 million people, will provide the necessary resources and effectively address the bottlenecks that businesses investing in Vinh Phuc are currently facing. These are also new advantages and opportunities for the new province to make breakthroughs in attracting investment and developing industry, becoming an ideal destination for leading global corporations and businesses.

The newly merged Phu Tho province will be a land full of potential, rich in cultural traditions, and with many opportunities for breakthroughs in the new era, in the age of national progress. The combination of the three provinces of Vinh Phuc, Phu Tho, and Hoa Binh will create an economic zone of sufficient scale, ranking among the top in the country, with more abundant combined resources and more diverse industries. This will enable it to compete effectively in attracting large-scale, high-tech investment projects from leading domestic and foreign corporations, which each individual locality previously found very difficult to accommodate.

A golden opportunity before a historic milestone.

During a scientific workshop to gather feedback on the draft document for the Phu Tho Provincial Party Congress (after merger) in the socio-economic field, themed "Identifying the potential and development orientation of Phu Tho province in the period 2025-2030, with a vision to 2050," many economic experts and delegates pointed out that the newly merged province needs to take science and technology, innovation, digital transformation, and the private sector as the main driving force and primary resource for economic growth, contributing 55-60% to growth by 2030; striving for the digital economy's contribution to GRDP to reach 30% or more.

This shows that the new provincial government has high expectations for the private sector, which is considered the center of development. The formation of new industrial, agricultural, and tourism-service corridors will create economic zones, industrial zones, high-tech agricultural zones, and continuous tourism routes with many unique tourism products that will be designed and operated scientifically, maximizing the existing advantages of each area.

Possessing key industries that generate high added value, Vinh Phuc is poised to become the leading economic hub of the newly established Phu Tho province. Photo: Duc Chung

In particular, internal transportation links will have the opportunity to develop to a new level, as investment resources are maximized, the connection between the province's main arterial roads and the Noi Bai - Lao Cai expressway, and future high-speed railway lines are developed. These connecting axes within the province will become strong regional arteries, promoting economic growth.

Trinh Van Quang, Director of Project Development at Vina-CPK Joint Stock Company (investor in the infrastructure of Ba Thien II Industrial Park (Binh Xuyen)), said: "Entering a new phase, businesses also need thorough and careful preparation, ready for new opportunities, taking advantage of the support of the government, thereby maximizing the advantages of the newly merged province."

Infrastructure investors hope that the new provincial government system will continue to support and collaborate with infrastructure investors and secondary investors. Based on Vinh Phuc's past experiences and successes in attracting investment and developing green industries, CPK believes that the new province will provide a new, attractive environment with rich potential and ample room for development for infrastructure investors and businesses wishing to invest in the province.

It can be seen that the development of supporting industries and high technology will focus on Vinh Phuc and suitable areas; building organic agricultural zones and applying high technology in Hoa Binh and Phu Tho; and comprehensively exploiting tourism from cultural heritage (Hung Temple) to natural landscapes (Hoa Binh Lake, caves, ethnic villages) and resort tourism will be the long-term orientation of the new province.

The energy sector (especially renewable energy) and logistics will also be boosted, thereby creating a comprehensive ecosystem for economic development in the new Phu Tho province. Economic development, along with expectations for a new environment, will be the foundation for the people of the three provinces to strive towards prosperity and civilization, transforming the new Phu Tho province into a desirable place to live.

Chu Kieu

Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/130255/Ky-vong-vao-khong-gian-phat-trien-moi