Businesses expected to drive Yen Bai’s economy forward

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Businesses expected to drive Yen Bai’s economy forward

Tuesday, January 18, 2022

YBO - Last year, Yen Bai province saw 326 newly-established enterprises with a total registered capital of over 4.48 trillion VND, up 23 percent year on year, and surpassing the set target by 14.4 percent.

Workers of Juma Yen Bai JSC in Xuan Ai commune, Van Yen district, boost production at the end of the year.

The provincial Department of Planning and Investment said despite the COVID-19 pandemic, Yen Bai made improvements in trade promotion.

Thanks to enhanced administrative reforms, more and more projects have been rolled out, offering opportunities for enterprises to expand production and business, the department said.

Since the beginning of the year, localities set out plans and established consultative groups to support households and individuals that want to establish businesses, organised training courses to improve administrative capacity for businesses, and helped new firms with procedures regarding accounting, tax and preferential loans.

To streamline administrative procedures, the department encouraged the use of online services during the registration for the establishment of companies, household businesses and cooperatives.

Localities also stepped up administrative reforms and worked hard to improve the investment environment.

Chairpersons of provincial, municipal and district People's Committees held monthly dialogues with businesses to help them remove operational obstacles.

Yen Bai now has 2,655 enterprises, with 1,664 limited companies, 590 joint stock companies, 352 private enterprises, 36 FDI firms, 10 wholly foreign-invested firms and three State-owned enterprises.

The 19th provincial Party Congress defined three breakthroughs for the 2020-2025 term, focusing on "Promoting administrative reform and improving the business environment".

Therefore, Yen Bai will continue to facilitate, mobilise and effectively use resources, promote start-ups and enhance the engagement of different economic sectors, especially the private one, in key areas in line with the province's development orientations.

Yen Bai is focusing on implementing its business development project for 2021 - 2025 and policies in support of enterprises during the five-year period.

It has also reviewed, amended, supplemented and adopted new mechanisms and policies, especially those on land use, site clearance, innovation, brand building and infrastructure construction.

At the same time, the province has increased legal support to businesses, stepped up online services, and encouraged enterprises to utilise information-technologies as well as digital transformation in their operations.

Quang Thieu

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