Yen Bai seeks to strengthen international integration

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Yen Bai seeks to strengthen international integration

Thursday, April 22, 2021

YBO - The northern province of Yen Bai has proactively sought to expand relations with foreign partners and promote international integration.

A delegation of the Japan-Vietnam Culinary Association visits Yen Thanh JSC (Photo: Hoai Van)

Yen Bai has so far had cooperative relations with 100 international organisations, foreign embassies, non-governmental organisations (NGOs), enterprises and investors.

The locality’s international integration efforts have significantly contributed to attracting investment and improving its export turnover.

Yen Bai has well performed in luring investment flows from Japan and the Republic of Korea (RoK), as well as in mobilising large-scale funding projects for the locality, helping it create breakthroughs and promote sustainable development.

The province is now home to 15 foreign-invested project with a total registered capital of over 8.36 trillion VND (over 361.5 million USD). The disbursement of foreign direct investment (FDI) in Yen Bai totaled nearly 3.6 trillion VND in 2015-2020.

Yen Bai has so far received 21 projects worth over 9 billion VND, including over 6.77 trillion VND of official development assistance (ODA). It also approved 102 programmes funded by foreign NGOs with a total committed value of 526.8 billion VND.

Yen Bai’s export turnover is estimated at 760.68 million USD, with main exports of wooden products, stone, green and black tea, cinnamon essential oil, tapioca starch, and plywood and garment products.

Yen Bai is calling for foreign investment in industry, agriculture, services, and infrastructure development, and enhancing promotion activities in order to expand cooperation with localities of the RoK, the UK and Germany.

The locality has also worked to accelerate the implementation of cooperation agreements with foreign partners, especially with Val de Marne and Chevilly Larue regions of France, and Vientiane and Xaynhabuly provinces of Laos in the areas of trade, culture, education and health care.

The provincial authorities have also coordinated with the Ministry of Foreign Affairs, and other ministries and sectors to implement documents related to international integration, while promoting people-to-people diplomacy and administrative reform, and improving the investment and business environment to lure more foreign investment.

Hong Oanh

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