With many synchronous solutions and great determination, Phu Tho's socio-economic development in the first quarter of 2025 continued to maintain its growth rate, increasing compared to the same period last year, creating momentum for breakthroughs in the coming time.

Production of textiles for export by Phu Tho Matsuoka Company Limited (100% Japanese investment capital in Phu Ha Industrial Park).

Focus on core tasks

In the first months of the year, the Provincial Party Committee, People's Council and People's Committee have focused on leading and directing the implementation of specific tasks and solutions for socio-economic development, ensuring national security and defense in 2025 and the directives, resolutions and conclusions of the Central Committee; focusing on the work of implementing the arrangement and streamlining of the apparatus; reviewing new resources, motivations and capacities to ensure the implementation of the set goals.

Up to now, Phu Tho has basically completed the arrangement and merger of departments, offices and units according to the Central's "streamlining - compact - strong - effective - efficient - effective" orientation; implemented the development of a plan to not organize at the district level and merge commune-level administrative units.

Implementing a breakthrough to improve the investment and business environment, the work of reviewing and completing planning has been focused on. Along with reviewing the Provincial Planning for the period 2021 - 2030, with a vision to 2050, the province focused on approving the project to adjust the overall planning of Phu Tho town to 2045; the projects to adjust the overall planning of Phong Chau, Thanh Thuy, Thanh Ba towns; at the same time, approving and adjusting a number of zoning plans, detailed plans of functional areas, housing areas, residential areas, industrial parks (IPs), urban areas (Urban Areas)...

In parallel with the direction to accelerate the progress of 12/20 key public investment projects in 2025, Phu Tho has promptly directed the highly concentrated implementation of site clearance work for important national projects through the province. In particular, implementing Conclusion No. 127-KL/TW of the Politburo, the Central Party Secretariat, the Provincial Party Committee, and the Provincial People's Committee have issued documents focusing on directing a general review of investment programs and projects; at the same time, reviewing specific handling plans for new construction investment projects, renovation, repair, and upgrading of working headquarters and projects directly serving district and commune party congresses to transfer capital plans for projects that have stopped, delayed, or postponed progress, and arranging capital for completed projects and projects that need to be accelerated for completion in 2025...

The province also promotes the dissemination and effective implementation of Resolution No. 57-NQ/TW, dated December 22, 2024 of the Politburo on breakthroughs in science, technology, innovation and national digital transformation; resolutely creates breakthroughs in attracting investment, in-depth development of advantageous industries to concretize Resolution No. 25/NQ-CP dated February 5, 2025 of the Government on growth targets for industries, fields and localities, in which the growth target for 2025 of Phu Tho province is assigned to reach 8% or more.

Renovating and upgrading the 110kV transformer station to meet the production expansion needs of enterprises in Thuy Van Industrial Park.

Bright colors

According to the report on socio-economic development in the first quarter; key tasks and solutions in the second quarter of 2025 of the province, the notable highlight is the high increase in industrial production; the industrial production index (IIP) in the first quarter increased by 46.4% over the same period; in which the processing and manufacturing industry increased by 47.4%.

In the service sector, departments, branches and localities have implemented many synchronous solutions to promote the service sector, focusing on attracting tourists. Not counting the number of tourists visiting Phu Tho on the occasion of the Hung Kings' Commemoration Day and the Cultural - Tourism Week of the Ancestral Land, in the first 3 months of the year, Phu Tho welcomed nearly 1 million visitors, up 6% over the same period, of which 241,900 were overnight guests, up 17%; total revenue is estimated at 902 billion VND, up 13%. In the trade and service sector, total retail sales of goods and consumer service revenue in the first quarter is estimated at 15,939 billion VND, up 16.2% over the same period; of which retail revenue is 12,934 billion VND, up 12.8%; revenue from accommodation and catering services is estimated at 1,658 billion VND, up 20.9%; Revenue from travel and other services is estimated at VND1,347 billion, up 15%. Total transportation revenue is estimated at VND2,056 billion, up 4.8% over the same period. Import-export turnover is estimated at USD8.2 billion, up 26.7% over the same period.

Agricultural, forestry and fishery production, in favorable weather conditions, has achieved and exceeded the set targets. Along with the direction to plant more than 4,000 hectares of new forests (an increase of 5.2% over the same period in 2024), the province has directed the establishment of planting areas and developed a plan to issue planting area codes for eligible areas.

State budget revenue is a bright spot in the first quarter economic picture with estimated results of VND 2,526 billion, reaching 32% of the estimate, up 7% over the same period; of which domestic revenue reached VND 2,319 billion, reaching 32% of the estimate, up 7% over the same period.

Notably, thanks to the good work of improving the investment and business environment, taking advantage of the support and assistance of the Central Government, the mobilization of resources for development investment has been quite good. The total social development investment capital in the province is estimated at 11,470 billion VND, an increase of 15.5% over the same period. In the first 3 months of the year, the whole province attracted 7 new domestic projects with registered capital of 295.5 billion VND; 5 FDI ​​projects with registered capital of 7.86 million USD. The disbursement of public investment capital and 3 national target programs has been implemented drastically and synchronously. The estimated disbursement value by the end of March 2025 reached 935 billion VND, equal to 33.6% of the plan, an increase of 9% over the same period, among the localities and ministries with high disbursement results in the country.

Continued growth

Promoting the positive results achieved in the first quarter, to realize the goals set for the whole year 2025, along with synchronously and effectively implementing the Resolutions, Conclusions, and directions of the Central Government, newly issued mechanisms, policies, and regulations, the province continues to focus on drastically improving the investment and business environment; promoting private investment, and attracting foreign direct investment.

According to the leaders of the Department of Finance, immediately after being established on the basis of receiving the original functions and tasks of the Department of Finance and the Department of Planning and Investment, the Department advised the Provincial People's Committee to promote investment promotion activities; proactively approach, learn about, and support partners and large corporations to invest in the province. Along with that, the Department closely coordinated with departments, branches, localities, and the Provincial Construction Investment Project Management Board to focus on handling difficulties and obstacles for key projects to promptly start construction and complete on schedule.

According to the leader of the Department of Industry and Trade, continuing the momentum of industrial production growth in 2024 and the first quarter of 2025, there are currently a number of large projects being implemented in the province, especially FDI projects such as: BYD Vietnam Factory Phase II producing electronic components, Interior accessories factory of Nien Made Enterprise Co., Ltd., SSEP Vietnam Electronic Components Factory Project, Apparel factory of Sunrise Apparel Vietnam Co., Ltd., Granite brick and glazed tile factory of VNHOME Group Joint Stock Company,... Identifying this as the main factor contributing new capacity to growth, the Department actively accompanies and implements solutions to ensure and support factories to come into operation on time, adding additional capacity to the economy.

To contribute to attracting businesses and investors, the province focuses on directing the development of a plan to clear land for key projects in 2025; determine detailed progress and area of ​​recovered land; sign a commitment to the progress of handing over land with investors and project management boards; clearly define the work and responsibilities of relevant parties; strive to clear over 600 hectares of land for investment projects by 2025.

In particular, in order to promote support and remove difficulties for production and business; promote growth and development of industries and sectors, Phu Tho focuses on reviewing, promptly amending and supplementing legal shortcomings related to enterprises and implementing investment projects. Timely and effectively implementing policies on exemption, reduction and extension of taxes, fees, charges and land rents... to support people and businesses, promote production and business activities. Co-chairing the Conference "Promoting bank credit to contribute to promoting economic growth in region 4", recently, Comrade Bui Van Quang - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee also gave opinions to the State Bank of Vietnam to direct credit institutions to reduce costs, simplify administrative procedures to reduce lending interest rates; create favorable conditions for people and businesses to access loans with reasonable costs and interest rates to develop production and business, stimulate domestic consumption and tourism; Actively implement preferential credit packages to promote economic growth drivers, key projects and works of the province.

Believing that with specific and synchronous tasks and solutions, especially the drastic, flexible and effective directions of the province in implementing breakthroughs to improve the investment and business environment, difficulties and obstacles will be completely resolved, thereby removing and releasing all available resources to manage, exploit, use and promote the highest efficiency, creating a foundation to promote growth and create a breakthrough momentum for the province in the coming time.

Dinh Vu