Phu Tho province after merger:
Spearhead of industrial growth
Over the years, the Vinh Phuc area (old) has established its position as an “industrial capital” by successfully attracting investment from large corporations such as Toyota, Honda... and hundreds of FDI enterprises from Japan and Korea. The industrial production capacity of this area not only creates abundant budget revenue but also brings tens of thousands of workers into the global value chain.
After the province's merger, Hoa Binh lake area has more conditions to develop tourism, attracting a large number of domestic and foreign tourists.
After the merger, that advantage became the common growth driver of the new Phu Tho province. Complementing Vinh Phuc's assembly industry is the energy strength of the Hoa Binh region with the Hoa Binh Hydropower Plant and the expanded Hoa Binh Hydropower Plant. Meanwhile, Phu Tho continues to affirm its position in the fields of chemicals, textiles, and new material production.
Thus, the industrial picture is expanded into a multi-industry industrial triangle: assembly - energy - processing, creating a closed industrial production ecosystem, helping to reduce import dependence and increase domestic value. According to economists, the merger of the three old provinces has made the new Phu Tho one of the five largest industrial centers in the North. This is the foundation for the province to aim to increase the proportion of industry - construction in the economic structure in the coming period.
Statistics for the first 7 months of 2025 show that Phu Tho province's economic growth rate increased by 10.09% over the same period in 2024. Of which, industry and construction increased by 15.32% (industry alone increased by 16.2%). Notably, the industrial sector continues to play a strong role as a growth driver, contributing effectively to the province's overall growth rate higher than the average growth rate of the whole country, higher than the target assigned by the Government in Resolution No. 25/NQ-CP.
Heritage - Ecological - Resort Belt
It can be affirmed that very few localities in the North possess such diverse tourism potential as the new Phu Tho province. Regarding cultural and spiritual tourism, there are Hung Temple, Xoan singing, Thay Pagoda, relics of the ancient Muong region, Tay Thien... Regarding eco-tourism and resorts, there are Tam Dao, Dai Lai Lake, Hoa Binh Lake, Kim Boi mineral spring... As for community tourism, there are Muong and Thai villages in Mai Chau, unique homestays in Phu Ninh, Thanh Thuy...
This combination opens up a heritage - ecological - resort belt that is competitive enough with famous tourist destinations such as Ninh Binh and Quang Ninh. The increasingly complete traffic infrastructure, especially the Noi Bai - Lao Cai expressway, National Highway 2, Hoa Lac - Hoa Binh expressway, and the upcoming "cross-center" expressway connecting the centers of the 3 old provinces will help tourists inside and outside the province, especially from Hanoi to Phu Tho, it only takes 1 to 2 hours to reach the province's potential tourist destinations. It is noted that after 2 months of merging the provinces, many cultural - tourism activities have been organized enthusiastically and attractively, attracting a large number of tourists.
Mr. Vu Duy Bong - Chairman of the Board of Directors of a tourism company in Hoa Binh area said: "The tourism connection within the province helps businesses easily build connecting tours. In the morning, visit Hung Temple, in the afternoon, bathe in Thanh Thuy hot mineral water, the next day, relax in Tam Dao or Hoa Binh Lake, or tourists can choose to explore lands rich in ethnic minority identity such as Mai Chau... This is a competitive advantage that few localities have."
Many advantages to break through in the future
Another outstanding advantage for Phu Tho province to be able to make an economic breakthrough in the near future is the potential for trade and logistics development. With its location adjacent to Hanoi and located between major traffic routes, the province has the conditions to become a freight transit center for the entire Northwest region. The province has the advantage of being close to Noi Bai airport - the international trade gateway and the Lo and Da river port systems, with the Hanoi - Lao Cai railway passing through, and the Hoa Lac - Hoa Binh route opening the door to connect with the Northwest region. This resonance allows the formation of concentrated logistics zones, linked to industrial parks and agricultural production areas. This is a key factor to reduce transportation costs and enhance the competitiveness of goods.
After the merger, Phu Tho province has 3 wards which are the development centers of the 3 old provinces: Viet Tri - Hoa Binh - Vinh Yen. Each area has its own characteristics but together contribute to creating a modern urban network. This opens up a diverse real estate development space with industrial urban areas, tourist urban areas, administrative - service urban areas. The housing, commercial and resort markets are expected to have the opportunity to explode in the near future, leading to the excitement of the banking and financial systems.
In addition, the advantage of a population of over 4 million people with an abundant young workforce is an important driving force. Universities and colleges in Viet Tri, Vinh Phuc, and Hoa Binh are oriented to become vocational training centers, providing high-quality human resources for industry and services. In addition, the cultural diversity of the lands creates a unique "economic identity", promising to strengthen the foundation for the development of cultural industry - a potential field in the era of creative economy.
In particular, according to experts, the strengths in economic development of Phu Tho province are emerging through convincing economic achievements, the most prominent of which is the attractiveness of the investment environment. In the first 7 months of this year, FDI capital attraction in the whole province reached 651.7 million USD; the whole province has started many large projects; over 2,700 newly registered enterprises with a registered capital of more than 25.5 trillion VND; over 960 enterprises have returned to production activities... These are convincing signals, showing that Phu Tho province possesses many important advantages to become a sustainable growth pole in the North. In the context of the whole country aiming to become a developed and high-income country by 2045, Phu Tho province is expected to be a strong growth pole, contributing to affirming the strategic position of the Northern Midlands and Mountains in the process of industrialization and modernization of the country.
Hong Trung
Source: https://baophutho.vn/nhieu-the-manh-de-but-pha-phat-trien-kinh-te-239000.htm
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