Phú Thọ and Korean businesses signed memoranda of understandings for investment promotion in the northern province. — Photo baochinhphu.vn

PHÚ THỌ — A business delegation of the Republic of Korea visited Phú Thọ on Wednesday to explore investment and trade cooperation opportunities in the northern province.

The delegation included 12 enterprises from the Federation of Gyeonggi Chambers of Commerce and Industry (FGCCI) operating in manufacturing and processing, supporting, high-tech industries, logistics and services.

Deputy Chairman of the provincial People’s Committee Nguyễn Khắc Hiếu said that Phú Thọ has enormous development space with a total area of more than 9,300 sq.km and a population of more than 4 million together with advantages in location, infrastructure and economic structure.

The province recorded an economic growth rate of 10.52 per cent in 2025 to reach GRDP of US$16 billion, ranking sixth nationwide, underlying its efforts in improving the investment climate, speeding up administrative reform and developing the infrastructure system.

Phú Thọ attracted around $1.51 billion in FDI and roughly $10 billion in domestic investment last year. To date, the province hosts 735 FDI projects worth totally $13.2 billion from 27 countries and territories.

South Korea is the largest investor, with 387 projects totalling nearly $5 billion, mainly in electronics, circuit board manufacturing, supporting industries and textiles.

Major Korean investors in the province include Daewoo Bus, Partron Vina, Interflex and Haesung Vina, which together provide jobs for nearly 200,000 workers.

Hieu affirmed that Phú Thọ always placing people and businesses at the centre of its policies while building a transparent, competitive and sustainable investment environment.

During the visit, the two sides signed several memoranda of understanding to strengthen investment promotion, facilitate business connections and support project research and implementation in Phú Thọ.

FGCCI Chairman Bae Hae-dong said the agreements marked an important starting point  for strategic partnership cooperation between the two sides to facilitate investment and technology cooperation as well as promoting sustainable development.

The delegation also conducted a site visit to Nam Bình Xuyên Green Park Industrial Park to assess infrastructure, land availability and project readiness. — VNS