Secretary of the Phu Tho Provincial Party Committee Truong Quoc Huy presents flowers to congratulate entrepreneurs at the event

Business community as a growth engine for Phu Tho

Phu Tho is home to nearly 41,000 active enterprises operating in manufacturing, logistics, high-tech agriculture, tourism and services, and smart urban development. These businesses make significant contributions to GRDP growth, create hundreds of thousands of jobs, and support social welfare. In the 2024-2025 VNR500 ranking of Vietnam’s top 500 companies, several firms from Phu Tho were recognized, underscoring the competitiveness of the province’s private sector.

At the ceremony President of the Phu Tho Provincial Business Association Nguyen Van Hung emphasized the spirit of innovation and aspiration among local entrepreneurs, declaring, “Developing businesses means contributing to building a richer, more civilized homeland.” He pledged that the association would continue to implement the guidelines of Resolution 68-NQ/TW dated May 4, 2025 of the Party Central Committee on private sector development through concrete support programs tailored to each sector and enterprise.

The association also committed to partnering with the provincial Party Committee, the People’s Council, and the People’s Committee to strengthen linkages, innovation, and sustainable development; improve productivity, product quality, and competitiveness; foster corporate culture and ethical entrepreneurship; uphold social responsibility; create stable employment and income for workers; and increase contributions to the state budget.

Addressing the entrepreneurs, Secretary of the Phu Tho Provincial Party Committee Truong Quoc Huy acknowledged and lauded the contributions of both local and external companies. He affirmed that the province views businesses as a core force and key driver of socio-economic development.

According to the provincial Party Secretary, at the first Provincial Party Congress for the 2025-2030 term, the province set a goal that by 2030, Phu Tho will become one of the growth poles in the Hanoi region, serving as a center for industry, commerce, logistics, tourism, healthcare, and high-quality education, as well as a venue for major cultural festivals connected to its ethnic heritage. The province aims to have over 45,000 active enterprises by 2030 and achieve an average annual growth rate of more than 12% in the private sector.

Truong Quoc Huy said that merging the business associations of Phu Tho, Vinh Phuc, and Hoa Binh into a single Phu Tho Provincial Business Association is a strategic move to consolidate strength, enhance regional linkage, expand markets, and mobilize investment resources. This consolidation will lay the foundation for a strong, dynamic, and globally integrated business community.

Chairman of the Provincial People’s Committee Tran Duy Dong awards the decision to establish the Phu Tho Provincial Business Association

Strengthening linkage and improving the investment climate

Provincial Party Secretary Truong Quoc Huy reaffirmed the province’s stance: “The success of businesses is the success of the province.” Local governments will intensify efforts to improve the investment and business environment, ensuring businesses can access policies and development resources.

The province regards planning as a pillar for effective investment, with the motto “a good plan yields good projects,” and positions public investment to lead private investment. Strategic infrastructure projects for transport, power, clean water, and industrial zones will be prioritized to reduce logistics costs and enhance enterprise competitiveness.

He also called for the Management Board of Phu Tho Industrial Parks and relevant agencies to deepen connections among domestic and foreign enterprises, creating conditions for local firms to integrate more deeply into global supply chains. Meanwhile, the province will continue to decentralize authority, advance administrative reform, build “green lanes” for major projects, simplify legal procedures, support land clearance, and accelerate investment progress.

Phu Tho places strong emphasis on developing high-quality human resources. The province will promote the “three-party” model involving government, businesses, and educational institutions to meet demand for skilled labor in industry and high-tech sectors. At the same time, it encourages enterprises to apply new technologies, advance digital transformation, improve governance, and pursue sustainable development linked to environmental protection and social welfare.

To the business community, Secretary Truong Quoc Huy expressed hope that entrepreneurs would continue expanding investments in Phu Tho and partner with local authorities to pursue green development, reduce emissions, and boost competitiveness. Companies should focus on modern governance, cost reduction, productivity improvement, technology adoption, and digital transformation to participate more fully in global supply chains.

At the meeting, the Phu Tho Department of Home Affairs announced the establishment of the Phu Tho Provincial Business Association, formed by merging the business associations of Phu Tho, Vinh Phuc, and Hoa Binh. The Vietnam Chamber of Commerce and Industry (VCCI) presented the “For the Development of Vietnamese Business” commemorative medal to the outgoing presidents of the three previous provincial associations, in recognition of their contributions to regional business development.

On the same occasion, the merged association announced the fundraising results of entrepreneurs and businesses for social welfare and disaster relief in support of the “Month for the Poor” program and recovery efforts following Typhoons Bualoi and Matmo, raising more than VND5 billion in cash and goods as of October 9, 2025.