Japanese businesses expand investment in Phu Tho

According to data from the Foreign Investment Agency (FIA), as of the end of September 2025, a total of 891 FDI projects have been invested in Phu Tho province in northern Vietnam,  with a total registered capital of over $12.2 billion.

The current province of Pho Tho has been formed since July 1, 2025, as a result of the merger of three former provinces of Phu Tho, Vinh Phuc and Hoa Binh.

Among foreign investors, Japan is currently the second-largest investor in the province, with a total capital of over $2 billion.

Japanese businesses mainly focus on supporting industries, automobile and motorcycle manufacturing and assembly, precision mechanics, and industrial machinery and equipment, with the presence of many major names such as Toyota, Honda, Sumitomo, Hitachi Astemo, TOTO, etc.

Not stopping there, Japanese businesses are continuously expanding their investment scale in Phu Tho.

Recently, Toyota Vietnam proposed a production expansion project in Phuc Yen ward (in the former province of Vinh Phuc), focusing on developing electrified vehicle lines, including hybrids.

Mr. Nakano Keita, General Director of Toyota Motor Vietnam (TMV), stated that in Phase 1 (2026-2028), the company will build a new factory covering 35,000 sq.m, increasing capacity by an additional 15,000 vehicles/year, with a total investment of approximately $360 million. This phase is expected to be completed and put into operation in Q4/2028.

In Phase 2 (2028-2029), Toyota will continue to invest in an additional assembly and vehicle inspection line on an area of about 40,000 sq.m, aiming to expand production capacity to meet demands of domestic and regional green vehicle markets.

Alongside Toyota, Sumitomo Group, is also accelerating its plan to expand investment in the locality. Specifically, Sumitomo has worked with the Provincial People's Committee to research and develop the infrastructure for Binh Xuyen – Yen Lac II Industrial Park (in the former province of Vinh Phuc), orienting it to become a high-tech, environmentally friendly industrial park complex, attracting satellite businesses in the fields of electronic components, precision mechanics, and supporting industries.