Phu Tho province to attract investment into new IPs
The northern midland province of Phu Tho plans to build three more industrial park (IPs) with a total area of 750ha this year, according to the Phu Tho Industrial Parks Management Board.
A part of Trung Ha IP in Phu Tho province (Photo: chothuexuong.com.vn)
Phu Tho (VNA) - The northern midland province of Phu Tho plans to build three more industrial park (IPs) with a total area of 750ha this year, according to the Phu Tho Industrial Parks Management Board.
Once established, the 100ha Phu Ninh, 350ha Tam Nong and 400ha Ha Hoa IPs would open up opportunities for the province to lure new domestic and foreign investors, contributing to the province’s socio-economic development, it said.
Currently, Phu Tho is calling for businesses with sufficient capacities and experience to pump investment into developing infrastructures at its IPs. The province said it would offer land rental exemptions for investors that build basic infrastructure facilities.
Phu Tho is now home to four operational IPs including Thuy Van, Trung Ha, Cam Khe and Phu Ha. Spanning a total area of nearly 2,000ha, the parks have to date attracted 175 foreign-invested projects, and 134 of them are already operational.
The Trung Ha IP has reported full land occupancy with 14 foreign-invested projects capitalised at 162.6 million USD, while the Thuy Van IP has 96 percent land occupancy with 97 domestically and foreign-financed projects valued at 787 milllion USD.
In 2019, IPs-based businesses generated an estimated revenue of 40 trillion VND (1.72 billion USD), up 33 percent year-on-year, contributing 1.6 trillion VND (689.3 million USD) to the State budget.
The province is offering incentives for investment projects in its IPs including corporate income tax exemption for the first two years and a 50 percent break for the four following years.
For projects involved in the high-tech and supporting industries, the province provides exemption stretches to 100 percent over four years and 50 percent for the following nine.
It will also foster administrative reform and create an open business environment with favourable conditions offered to businesses, while solving their difficulties in a timely manner./.
A company in the northern province of Phu Tho has been recently fined 300 million VND (12,950 USD) for its violations related to environmental protection.
The northern mountainous province of Phu Tho is pursuing the policy of developing agriculture, with one of the priorities being building trademarks for local farm specialities, some of which have long been known wide and far inside Vietnam.
Many agencies, units and businesses across the northern province of Phu Tho have been taking specific actions in response to the “no plastic waste” campaign.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
A part of Trung Ha IP in Phu Tho province (Photo: chothuexuong.com.vn) 
