Phu Tho faces a turning point with high-quality FDI.

When investment flows are no longer just about quantity but have become a test of the local economy's capacity for selection and absorption, the government and relevant agencies cannot remain uninvolved.

In the context of increasingly fierce competition to attract investment, the number of projects a locality attracts is no longer the sole measure of success. More important are the quality of the capital flow, its potential for spillover effects, and its substantial contribution to growth. For Phu Tho , the current period marks a clear shift, from a "red carpet" mindset to a conditional selection approach, aiming for a new generation of FDI.

Phu Tho has been and continues to be one of the largest automobile and motorcycle manufacturing centers in the country, with many global brands operating in the area such as Honda, Toyota, Piaggio, etc.

Looking back at recent years, it is clear that Phu Tho has achieved remarkable results in attracting foreign investment, establishing itself as one of the major industrial production centers in the northern midland and mountainous region, with many globally renowned corporations operating in the area such as Honda, Toyota, Piaggio, BHFlex, Partron Vina, Interflex Vina, etc.

Currently, the province has approximately 735 active FDI projects with a total registered capital of over US$13.2 billion, originating from 27 countries and territories. Within industrial parks alone, there are more than 500 FDI projects with a total registered capital exceeding US$10 billion. Notably, in the first four months of 2026 alone, the province attracted over US$1.2 billion in FDI, reaching approximately 75% of the annual plan and significantly higher than the same period last year, demonstrating the increasing attractiveness of the local investment environment.

However, behind those growth figures lies a shift in approach. While previously the priority was filling industrial parks, the requirements are now much higher. Phu Tho is no longer attracting investment in a broad sense, but is beginning to select projects with high technological content, high added value, environmental friendliness, and the potential to link with domestic businesses.

According to Mr. Le Van Loc, Deputy Director of the Phu Tho Department of Finance, the trend of shifting global supply chains is opening up great opportunities for midland localities like Phu Tho. However, opportunities only truly become a driving force when accompanied by the capacity to absorb them. This requires localities not only to prepare land and infrastructure, but also to improve the quality of human resources and genuinely improve the business environment.

Analyzing this issue further, Mr. Hoang Long Bien, Head of the Provincial Industrial Parks Management Board, stated that although attracting foreign investment to the province has seen many positive improvements, several bottlenecks still exist. Industrial park infrastructure is not yet fully synchronized, especially the logistics and support services system. There is a shortage of high-quality human resources, failing to meet the requirements of technology projects. Furthermore, the linkages between FDI enterprises and domestic enterprises remain limited, resulting in less pronounced spillover effects.

Another noteworthy point is the changing structure of investors. Partners from Asia, especially China, continue to account for a large proportion with hundreds of projects and a total capital of billions of USD. This creates opportunities for rapid capital inflows but also necessitates screening to avoid projects with low technology, high energy consumption, and significant environmental impact.

In this context, the Central Committee's Resolution on attracting foreign investment in a selective, efficient, and sustainable manner has become an important guiding principle. For Phu Tho, the issue is no longer about how many projects to attract, but how to attract them in a way that creates real value.

FDI projects are not only present in urban areas but are also shifting to rural and mountainous areas..., thereby ensuring social balance and making a significant contribution to solving employment problems for local workers (Photo taken at Lap Thach Shoe Company, Lap Thach commune).

This shift is also closely linked to the goal of restructuring the local economy . As industry moves beyond processing and assembly to smart manufacturing, and as industrial parks evolve from mere factory locations into integrated production ecosystems, the requirements for planning, infrastructure, and governance also change accordingly.

According to Mr. Dao Van Hung, Deputy Director of VPIC1 Co., Ltd. - a 100% foreign-invested enterprise (Khai Quang Industrial Park): From a long-term perspective, choosing high-quality FDI not only helps improve labor productivity but also creates a foundation for innovation and sustainable development. However, to achieve this, the province needs more than just commitments. These must be concrete actions in reforming administrative procedures, improving enforcement discipline, and genuinely supporting businesses.

Because, in the competition to attract investment, advantages no longer lie solely in geographical location or cost, but increasingly depend on the quality of governance and the reputation of the local government.

As FDI flows are entering a new cycle of shift, Phu Tho province is also presented with a rare opportunity to break through. However, that opportunity will only become a reality if the province has the courage to choose wisely and the capacity to absorb it.

And the ultimate answer will not lie in the number of projects licensed, but in the real value those projects bring to the economy and people's lives.

Quang Nam

Source: https://baophutho.vn/phu-tho-truc-buoc-ngoat-fdi-chat-luong-cao-253486.htm