Turning Advantages into Competitiveness
In recent years, efforts have focused on implementing a range of measures to improve the province's competitiveness, shorten the time required to process administrative procedures, accelerate digital transformation in processing investment applications, and maintain regular dialogue with businesses to address their difficulties.
During this period, priority has been given to selectively attracting FDI by improving the investment environment, advancing administrative reform and strengthening investment promotion. There are currently 26 FDI projects involving 25 wholly foreign-owned enterprises, with total registered investment capital of more than VND 6.956 trillion (equivalent to USD 276 million). Most of these FDI projects have been implemented in line with the province's development orientation, helping strengthen production capacity, create jobs, boost exports and gradually enhance the attractiveness of the province's investment environment.
Workers at Hitarp Vietnam Co., Ltd. in Phuc Ung Industrial Cluster produce tarpaulin for export
Many projects are operating steadily and making significant contributions to the local budget and export turnover, notably the Seshin VN2 Garment Export Factory (Republic of Korea); the MSA-YB Garment Export Factory (Republic of Korea); the footwear manufacturing plant of Chung Jye Company (Samoa); the PP packaging production project of Sung Lim Industrial Co., Ltd. (Republic of Korea); and the Future of Sound Vina audio equipment processing factory (Hong Kong), among others.
In particular, the EREX SAKURA Tuyen Quang Biomass Fuel Plant, backed by a Japanese investor with nearly USD 20.4 million in investment capital, is regarded as a strategic project featuring a circular economy model and green production in line with international standards. Covering 3.3 hectares, the project has a designed annual capacity of 150,000 tonnes of biomass pellets and 150,000 tonnes of woodchips. Honna Hitoshi, Chairman and CEO of Erex JSC, said Tuyen Quang is rich in biomass resources and that, given the province's strong support and priority for the project, the group is ready to invest in a second and third plant in the province.
Alongside improvements to the investment environment, better inter-regional transport links and the synchronised planning and development of industrial parks and clusters are opening up new room for growth in Tuyen Quang. This provides an important foundation for shifting from broad-based investment attraction towards selecting high-quality projects that align with emerging development trends.
Creating a High-Quality Investment Environment
In line with the spirit of Resolution No. 10-NQ/TW, the Standing Board of the Provincial Party Committee issued Resolution No. 81-NQ/TU on April 14, 2026, on strengthening investment attraction for the 2026-2030 period. The resolution identifies priority sectors including processing and manufacturing; high technology; high-tech agriculture; agricultural and forestry product processing; logistics; industrial park infrastructure development; high-quality services; and tourism. These are all high-value-added sectors that align with the direction of attracting a new generation of FDI.
For 2026-2030, a target has been set to attract around 150 new investment projects, with total registered capital of VND 70-75 trillion. FDI is expected to account for around VND 15-20 trillion (equivalent to USD 600-800 million). A further target is to attract at least three companies ranked among Vietnam's Top 500 largest enterprises to invest in the province. It is also targeted that 100% of eligible investment-related administrative procedures will be available online at a high level, while application processing times will be further shortened.
Nguyen Thanh Hieu
Abridged from: Tuyen Quang online
