Phu Tho expands industrial zones for more investment

The Phu Ha Industrial Zone, one of the key areas, spans over 356 hectares in its first phase and is situated across the districts of Ha Loc, Phu Ho, and Ha Thach in Phu Tho township. The zone is currently 50% occupied by factories, with numerous establishments operating at full capacity.

Phu Tho expands industrial zones for more investment (Photo: daibieunhandan.vn)

By the end of 2024, Viglacera Corporation Joint Stock Company, the investor of Phu Ha Industrial Park, plans to finalise investments in essential infrastructure, including roads, drainage systems, water supply, lighting, and green spaces.

Additionally, the zone will enhance safety with traffic control, fire prevention systems, and worker transport services.

Trinh The Truyen, Director of the Phu Tho Department of Planning and Investment, stated that the province aims to attract investments totaling at least 50 trillion VND (about 2 billion USD) in 2024. This includes new and adjusted foreign direct investment (FDI) projects, with a target of 500-600 million USD in FDI. Phu Tho also plans to offer 200-300 hectares of clean land to attract further investment.

The province is streamlining land registration offices across districts, improving administrative procedures, and accelerating key infrastructure projects. Specific actions include finalising Phu Ha Industrial Zone Phase 1, initiating Phase 2, and developing additional zones such as Tam Nong and Ha Hoa. The expansion also includes new industrial clusters like Dong Phi, Tam Nong, Nam Doan Hung, Phu Ho, and Quang Yen.

Chairman of the provincial People’s Committee Bui Van Quang emphasised the province's commitment to leveraging its geographical and natural resources, alongside cultural advantages, to enhance investment attraction. Efforts are focused on expediting land clearance, reducing administrative delays, and advancing major infrastructure projects, including industrial zones and residential areas.

Nguyen Anh Son, Director of the Import-Export Department under the Ministry of Industry and Trade, highlighted Phu Tho's potential to become a growth hub in the north’s economic region, linking Vietnam with China and ASEAN.

Over the past three years, the province has drawn nearly 500 domestic investment projects with registered capital totaling 56.9 trillion VND and 78 FDI projects with capital estimated at more than 2.1 billion USD. The average size of domestic projects has increased by 27.7 billion VND, while the average FDI project size has risen by 50.4 million USD. Major investors from the Republic of Korea , China, Japan, Singapore, the US, and India are focusing on electronics, textiles, packaging, plastic pellets, and food processing sectors.