Groundbreaking for Phúc Yên Industrial Park in Phú Thọ with nearly VND 1,988 billion in investment; project expected to create tens of thousands of jobs and support the province’s plan to become a centrally governed city

On the morning of April 9, a groundbreaking ceremony was held in Phú Thọ province for the Phúc Yên Industrial Park infrastructure investment and business project. The event was attended by Trần Duy Đông, a member of the Party Central Committee, Deputy Secretary of the Provincial Party Committee and Chairman of the Phú Thọ Provincial People’s Committee; Bùi Huy Vĩnh, Deputy Secretary of the Provincial Party Committee; and Vũ Việt Văn, a member of the Provincial Party Committee Standing Board and Vice Chairman of the Provincial People’s Committee, along with leaders of relevant departments and local authorities.

Project scale and investors

The Phúc Yên Industrial Park investment project is identified as a strategic project in the province’s industrial park development plan. It covers about 111.3 hectares and has a total investment of nearly 1,988 billion VND. The investors are Shinec Joint Stock Company and VISIZ Joint Stock Company.

Location and development direction

The industrial park is located near key transport and economic corridors, including Hanoi–Lào Cai and Hanoi–Hải Phòng–Quảng Ninh. It is also connected to domestic ports, airports, and the regional transport network around the capital.

The development direction emphasizes clean and high-tech industries, adopting an eco-friendly, modern industrial park model aligned with sustainable growth.

Planned infrastructure

Technical infrastructure within the park will be built comprehensively, including internal roads, power supply, water and drainage, a centralized wastewater treatment plant, green spaces, and lighting, to meet the needs of enterprises once the park begins operations.

Implementation timeline

Under the plan, the project will be implemented in two phases:

• Phase 1: Q1/2024 to Q1/2026, focusing on completing legal procedures, site clearance, and the groundbreaking.
• Phase 2: Q2/2026 to Q1/2027, implementing construction of technical infrastructure to prepare the park for secondary investors.

Expected impact

After completion and operation, Phúc Yên Industrial Park is expected to attract significant capital and create tens of thousands of jobs, contributing positively to the local budget.

The project is also positioned as a key growth driver to support economic restructuring, raise residents’ incomes, and contribute to Phú Thọ’s socioeconomic development objectives through 2030 with a vision toward 2050.

Provincial remarks and broader targets

Speaking at the groundbreaking ceremony, Phú Thọ Chairman Trần Duy Đông said the project represents not only the start of important industrial park infrastructure, but also the province’s commitment to implement sustainable industrial development and attract high-quality capital.

In its adjusted provincial plan, Phú Thọ aims to become a growth pole in the northern midland and mountainous region by 2030, serving as a center for industry, commerce, logistics, tourism, healthcare, and high-quality education, and hosting major national and international events. The target GRDP growth for 2026–2030 is about 11–12% per year, with GRDP expected to be substantially higher than 2025. By 2050, the province aims to become a centrally governed city, a leading locality in the country, and a modern industrial–commercial–logistics hub integrated into global supply chains.