In the afternoon of the first of September 2026, at the Radisson Collection Hotel in Moscow, Russian Federation, the Investment Promotion Delegation of Phú Thọ province, led by Mr. Nguyen Manh Son, Deputy Secretary of the Provincial Party Committee, hosted a conference on investment promotion. The conference constituted an important external relations and investment promotion activity, aimed at introducing the province’s development potential, competitive advantages, investment environment and priority sectors, while strengthening connectivity and expanding opportunities for cooperation with Russian business community and investors.
The Conference was honoured by the presence and address of Mr. Dang Minh Khoi, Ambassador Extraordinary and Plenipotentiary of the Socialist Republic of Viet Nam to the Russian Federation, together with representatives of diplomatic missions and the Viet Nam Trade Office in the Russian Federation.
Representing Phu Tho Province, the Conference was chaired by Mr. Nguyen Manh Son, Deputy Secretary of the Provincial Party Committee and Head of the Delegation; Mr. Nguyen Trung Kien, Member of the Standing Committee of the Provincial Party Committee and Vice Chairman of the Provincial People’s Council; Mr. Quach Tat Liem, Member of the Provincial Party Committee and Vice Chairman of the Provincial People’s Committee; and Mr. Vi Manh Hung, Member of the Standing Committee of the Provincial Party Committee and Director of Phu Tho Radio and Television. The Conference was also attended by representatives of provincial departments, agencies, local authorities and businesses.
The Conference brought together more than 100 businesses and investors, as well as representatives of the Vietnamese community in the Russian Federation. It provided an opportunity for Phu Tho to directly present its new development orientations, while listening to the needs and proposals of Russian businesses and investors, thereby gradually translating areas of interest into concrete, substantive and long-term cooperation opportunities.
Strengthening connectivity and promoting Viet Nam–Russia investment cooperation
The Conference was held in a formal yet open and cordial atmosphere, with discussions conducted in both Vietnamese and Russian. Participants viewed an introductory video providing an overview of Phu Tho Province, with a focus on its socio-economic development achievements, infrastructure system, development potential, competitive advantages and investment attraction orientations for the new development period.
Addressing the Conference, Mr. Nguyen Manh Son, Deputy Secretary of the Phu Tho Provincial Party Committee, emphasised that Viet Nam and the Russian Federation share a special traditional relationship of friendship, loyalty and close bonds that have been nurtured by generations. Building on strong political relations and mutual trust, the two countries have favourable conditions to further expand cooperation, particularly in the areas of economy, trade, investment, science and technology, education, culture and tourism. Against this backdrop, Phu Tho Province organised the Investment Promotion Conference with the aim of translating the potential, competitive advantages and longstanding goodwill between the two sides into practical cooperation programmes, effective investment projects and long-term partnership based on mutual benefit.
Phu Tho with new development space and emerging growth potential
Introducing the new Phu Tho Province following the administrative merger, Mr. Nguyen Manh Son, Deputy Secretary of the Provincial Party Committee, highlighted the province’s key advantages in terms of development space, geo-economic position, infrastructure, industrial capacity, human resources, culture and tourism.
Since 1 July 2025, following the merger of the former Phu Tho, Vinh Phuc and Hoa Binh provinces, Phu Tho has an area of approximately 9,361 km², ranking 15th nationwide, and a population of more than 4 million, ranking 11th nationwide, including more than 2 million people of working age. The expanded development space provides the province with greater opportunities to strengthen linkages among industry, urban development, trade, logistics, agriculture, services and tourism.
Phu Tho enjoys a strategically advantageous location, serving as a gateway connecting the north-western region with Ha Noi and major economic centres in the Red River Delta. The province is situated along the Kunming–Lao Cai–Ha Noi–Hai Phong–Quang Ninh economic corridor. Its multimodal transport network, together with the three major rivers: the Red River, Lo River and Da River—provides significant advantages for transport, logistics and the movement of goods. Notably, the Phu Tho ICD Logistics Centre covers more than 83 hectares and has a designed handling capacity of 530,000 TEUs per year, contributing to enhanced connectivity and the efficient movement of goods throughout the province.
Phu Tho’s industrial space is also expanding, with 58 industrial parks planned, of which 28 are currently operational, covering 5,832.49 hectares, alongside an extensive network of industrial clusters. The province has an abundant labour force and a diversified education and vocational training system comprising five universities, 18 colleges, 11 intermediate-level vocational schools and 23 centres for continuing education and vocational education. This provides an important foundation for meeting the human-resource requirements of industrial and service-sector development.
In addition, Phu Tho possesses a diverse cultural and tourism landscape, ranging from the ancestral land of the Vietnamese nation, where the Worship of Hùng Kings and Phu Tho Xoan Singing have been inscribed by UNESCO, to destinations such as Tam Dao, Mai Chau, Thanh Thuy, Kim Boi and Hoa Binh Lake.
These advantages in terms of scale, location, infrastructure, industrial capacity, logistics, human resources, culture and tourism provide a strong foundation for Phu Tho to emerge as a new growth pole while attracting high-tech, high-value-added, environmentally sustainable investment projects that are aligned with the province’s development priorities.
In 2025, Phu Tho recorded GRDP growth of 10.52%, ranking fourth nationwide. The province’s economic output exceeded VND 409.6 trillion, equivalent to nearly USD 16 billion, ranking sixth nationwide and first among the provinces and cities of the Northern Midlands and Mountainous Region. During the first six months of 2026, the provincial economy maintained its growth momentum, with GRDP increasing by 10.09%.
To date, Phu Tho has 747 valid FDI projects with total registered capital exceeding USD 15 billion from 28 countries and territories, together with 3,122 domestic investment projects with total registered capital of nearly USD 45 billion. The province has become an investment destination for numerous major domestic and international corporations and enterprises, including Toyota, Honda, Piaggio, BYD, JNTC, Namuga, Compal and De Heus, etc.
Looking ahead, Phu Tho identifies industry as one of the key drivers of economic growth and will prioritise investment projects that employ advanced technologies, generate high value added, use resources efficiently, minimise environmental impacts and have the capacity to integrate deeply into global value chains.
Priority sectors for investment attraction include high-tech industries, electronics, semiconductors, artificial intelligence, precision engineering and automobile manufacturing; clean and renewable energy; chemicals and new materials; logistics and multimodal logistics services; trade; ecotourism, resorts, hot springs, sports and golf courses; high-tech agriculture; agro-forestry processing; and post-harvest preservation.
The province attaches particular importance to attracting investors with strong financial capacity, advanced technologies and modern management capabilities, capable of producing competitive products, contributing to the state budget, creating employment and enhancing local production capacity, while meeting environmental protection and sustainable development requirements.
Accompanying businesses and facilitating investment
Mr. Nguyen Manh Son, Deputy Secretary of the Provincial Party Committee, then reaffirmed the province’s consistent approach to attracting and accompanying businesses and investors: “All investors coming to Phu Tho are citizens of Phu Tho; the success of businesses is the success of the province.”
He called on provincial agencies and authorities to proactively receive, monitor and follow up on the connections established at the Conference, and to coordinate in a timely manner to address difficulties and obstacles encountered by investors during project research and implementation.
The Centre for Investment Promotion and Enterprise Support will continue to serve as the focal point for directly supporting, guiding and facilitating investors in addressing matters of interest. For issues beyond the provincial authorities’ jurisdiction, the province will proactively coordinate with relevant central ministries and agencies to report and propose solutions to the competent authorities.
Recognising the improvement of the investment and business environment as a key priority, Phu Tho is accelerating administrative reform, digital transformation and improvements in the quality of public services for citizens and businesses.
The province is implementing an “administrative green-lane” mechanism, including “24-hour green-lane” and “50% green-lane” procedures, with a view to reducing processing times for investment, land and construction-related procedures. The province is also implementing single-window and inter-agency one-stop mechanisms and strengthening coordination among relevant authorities in processing applications.
For projects meeting the applicable legal requirements, investors are entitled to tax incentives, land-rental incentives and other investment support measures in accordance with Vietnamese law. The province also places emphasis on facilitating access to land and technical infrastructure, supporting site clearance, and connecting investors with vocational training and human-resource supply networks, thereby creating favourable conditions for projects to be implemented and become operational at the earliest possible stage.
Strengthening connectivity and nurturing investment cooperation between Viet Nam and the Russian Federation
After that, Ambassador Dang Minh Khoi highly appreciated Phu Tho Province’s proactive efforts in investment promotion and in expanding cooperation with international partners. He expressed his hope that the Conference would enable Russian businesses to identify new opportunities for cooperation and investment in Phu Tho. The Ambassador also highlighted the significance of the timing of the Conference, as Viet Nam celebrates the 81st anniversary of its National Day on 2 September 2026, while Moscow enters celebrations marking the 879th anniversary of the city. He emphasised that these occasions further underscore the solidarity and traditional friendship between Viet Nam and the Russian Federation. Speaking about Phu Tho’s distinctive identity, Ambassador Dang Minh Khoi emphasised that Phu Tho is the ancestral homeland of the Vietnamese nation, noting that “coming to Phu Tho means coming to the ancestral homeland.” He expressed his best wishes for the success of the Investment Promotion Conference and for the event to open up further practical opportunities for cooperation between the province and Russian partners.
The Ambassador affirmed that the Embassy of Viet Nam in the Russian Federation stands ready to accompany and support the two countries’ businesses, facilitate connections and create favourable conditions for enterprises from both sides to explore and expand investment and business cooperation, thereby contributing to deepening Viet Nam–Russia economic relations.
During the discussion session, Russian businesses and investors raised and exchanged views on a wide range of issues relating to industrial-park infrastructure, energy, logistics, processing and manufacturing industries, healthcare, education, tourism and golf-course development. Questions focused on investment incentives, land availability, investment procedures, infrastructure connectivity and conditions for implementing projects in the province.
Responding directly to investors, Mr. Quach Tat Liem, Vice Chairman of the Provincial People’s Committee, provided information and clarification on matters within the province’s jurisdiction. He also presented in greater detail the sectors and projects currently prioritised for investment attraction and reaffirmed that Phu Tho is ready to coordinate with and support investors throughout the process of project research, completion of administrative procedures and project implementation.
Expanding opportunities for cooperation with Russian partners and businesses
The Phu Tho Provincial Investment Promotion Conference in the Russian Federation was not only an opportunity to present the province’s potential, competitive advantages and investment attraction policies, but also served as a platform for direct dialogue with the Russian business community on specific needs, development orientations and areas of potential cooperation.
Via this event, Phu Tho seeks to strengthen connections with capable Russian businesses and investors possessing relevant experience and technologies, and to gradually transform initial contacts and expressions of interest into concrete field visits, project studies and investment cooperation.
Building on the outcomes of the Conference, Phu Tho provincial leaders extended an invitation to Russian businesses and investors to undertake field visits to the province and explore its infrastructure system, land availability, human resources, industrial parks, industrial clusters and potential areas for cooperation. The province is committed to creating favourable conditions and accompanying investors throughout the entire investment cycle, from opportunity identification and project research to administrative procedures, implementation and operation.
Phu Tho’s Investment Promotion Conference in the Russian Federation concluded successfully, generating new connections and opportunities for cooperation between Phu Tho and Russian businesses and investors. It also laid the groundwork for translating the interests and discussions generated at the Conference into concrete cooperation programmes and investment projects. The Conference represented a practical step in the province’s strategy to proactively mobilise and diversify international resources and selectively attract investment flows characterised by advanced technologies, modern management capabilities and high value added, thereby supporting Phu Tho’s objectives of rapid and sustainable development.
Under its development orientation for 2026–2030, Phu Tho aims to maintain average annual GRDP growth of 11–12% and gradually develop into a centre for industry, trade, logistics, tourism, healthcare and high-quality human-resource development. To achieve these objectives, the province regards the domestic and international business and investment communities as important sources of resources and drivers of development. Phu Tho will therefore continue to substantially improve the investment environment, enhance infrastructure quality, develop human resources and build a developmental and business-oriented administration that actively accompanies and supports enterprises.
Following the Investment Promotion Conference, the delegation visited Ho Chi Minh Square in Moscow to lay flowers in tribute to President Ho Chi Minh, which took place during the period when Viet Nam was celebrating the 81st anniversary of its National Day on 2 September, further highlighting the significance of the delegation’s visit.
The delegation’s flower-laying ceremony following the Conference therefore not only expressed profound respect and gratitude to President Ho Chi Minh, but also symbolised the continuation of the traditional foundation of friendship between Viet Nam and the Russian Federation—a foundation upon which substantive, mutually beneficial economic, investment and cooperation ties between Phu Tho and Russian partners can be further developed in the new period.
From Moscow, the investment connections established today are expected to be further developed through field surveys, project studies and concrete cooperation programmes in Phu Tho. These efforts will contribute to transforming the province’s potential and competitive advantages into tangible development resources, converting cooperation opportunities into high-quality projects that generate additional value, employment and new drivers of economic growth. Guided by the principle that “the success of businesses is the success of the province,” Phu Tho remains committed to accompanying and supporting investors and creating the most favourable conditions permitted by law for investors to establish and sustain their long-term operations in the province.
Accordingly, the Investment Promotion Conference in the Russian Federation not only contributes to strengthening economic cooperation between Phu Tho and Russian partners, but also demonstrates the province’s firm commitment to expanding its international cooperation space, mobilising international resources, improving the quality of economic growth and developing new drivers of development. These efforts will contribute to gradually realising the vision of a new Phu Tho with a broader development space, stronger competitiveness, and a modern, green and sustainable development model, thereby making a positive contribution to the development of both the province and Viet Nam as a a nation.
Translation: Đặng Thị Lâm Tuyền By Thanh Huyền - Photos: Tuyết Nhung