High-tech projects, promoting industrial development in new Phu Tho province

After implementing the policy of merging the provinces of Vinh Phuc, Phu Tho and Hoa Binh into one administrative unit of Phu Tho province (new), restructuring and economic development towards industrialization and modernization has become the focus of the province's development orientation. In particular, Vinh Phuc province plays a core role in attracting investment, especially high-tech projects, in order to create new growth momentum and spread development evenly throughout the region.

Strategic destination for high-tech investors

With its strategic geographical location, increasingly improved infrastructure and flexible investment attraction policies, Vinh Phuc province has successfully welcomed many large corporations, including "giants" such as Toyota, Honda, Piaggio, and recently technology enterprises from Korea, Japan and the US.

Industrial parks such as Ba Thien, Khai Quang, Thang Long Vinh Phuc... are constantly expanding and upgrading to catch up with the new wave of investment. Fields such as electronic component manufacturing, automatic equipment manufacturing, automotive technology, robotics and AI... are gradually replacing traditional industries, putting Vinh Phuc on the national high-tech industrial map.

Thien Quang Electronics Joint Stock Company (Binh Xuyen Industrial Park) specializes in manufacturing security cameras and dash cams for the world market.

Recognizing its leading role in the post-merger industrial development process, Vinh Phuc has proactively innovated its investment attraction thinking in a selective manner, prioritizing high-tech, environmentally friendly projects with high added value. Preferential policies on land, taxes, and investment procedures have been strongly reformed in a flexible and transparent manner, creating a favorable environment for domestic and foreign investors.

By the end of 2024, the whole province attracted 1,326 investment projects, including 481 FDI projects with a total capital of more than 8.4 billion USD; 845 domestic investment projects with a total capital of more than 145,000 billion VND. Including many high-tech industrial projects such as: Electronic components manufacturing project of BHFlex Company Limited in Khai Quang Industrial Park; Korea Circuit Vina project of Korea Circuit and Interflex Vina in Dong Soc industrial cluster; HN03 Data Center project ofFPT Telecommunication Joint Stock Company...

Linking new dynamic development regions after merger

After the merger, Phu Tho province (new) has a larger population and area, possessing many potentials and advantages for multi-industry development. In particular, Vinh Phuc with its strategic location near Hanoi capital, developed transport infrastructure (Noi Bai - Lao Cai highway, Ring Road 5, national railway...) will become a transit and distribution center for industrial products for the entire region.

The connection between the industrial parks of the three provinces will create a complete supply chain network, from the assembly industry in Vinh Phuc to the supporting industry in Phu Tho and the processing and agricultural industry in Hoa Binh. This inter-regional economic structure will create a driving force for balanced development, reduce regional disparities and effectively exploit local resources.

Ba Thien II Industrial Park (Binh Xuyen) attracts many high-tech projects.

Not only stopping at attracting investment, Vinh Phuc province also orients industrial development associated with smart, green and sustainable urban planning. New industrial parks are all designed according to the model of industrial parks, urban areas and services, aiming to attract high-quality human resources and create favorable living and working conditions for experts and workers.

In addition, Vinh Phuc is promoting the development of research and development (R&D) centers, cooperating with institutes, schools and FDI enterprises to gradually form an innovation ecosystem, making high-tech industry a pillar of the new Phu Tho province's economy.

The province aims to attract at least 20 new high-tech projects with a total investment capital of over 5 billion USD by 2030; the proportion of processing and manufacturing industry in the province's GRDP will reach over 50%; the proportion of trained workers will reach 80%; and the average industrial production value per capita will reach the highest level in the Northern midlands and mountainous region.

With high political determination, clear development orientation and attractive investment environment, Vinh Phuc is gradually affirming its role as the industrial locomotive of the new Phu Tho province after the merger, making an important contribution to the sustainable development, covering the whole region.

Article and photos: Nguyen Huong-Mai Lien

Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/130374/Cac-du-an-cong-nghe-cao-thuc-day-phat-trien-cong-nghiep-tinh-Phu-Tho-moi