Located in the centre of the northern midland and mountainous region and on the Kunming-Lao Cai-Hanoi-Hai Phong economic corridor, Yen Bai province is one of the satellite localities helping to promote the “Two Corridors-One Belt” cooperation and connect the region with the ASEAN free trade area.
Over the past years, Yen Bai has taken various measures to promote the development of the products this province has strength in.
YBO - Considering the preparation of goods participating in the ‘One Commune One Product’ (OCOP) campaign as a key task in the local rural economic development and new-style rural building, Tran Yen district had two qualified products in 2019 – Bat Tien tea of the Bao Hung high-quality tea production cooperative in Bao Hung commune and cinnamon quills of the Vietnam cinnamon and anise cooperative in Dao Thinh commune.
Production and business activities in Yen Bai province were resumed in early May after one month being suspended to implement social distancing measures.
YBO - More than 117,600 households in Yen Bai province were recognised as production and business role models between 2016 and 2018, including over 93,400 at the communal level and 24,000 others at the district level.
The World Bank (WB) has issued an update on Vietnam’s macro-economy for May, in which it said the economy may prosper again after social distancing measures were eased nationwide on April 23.
The People’s Committee of northern Yen Bai province has licenced 14 industrial projects with a combined registered capital of 552 billion VND (23.5 million USD) and 11 million USD, in Luc Yen district in the 2016 – 2020 period.
Standard Chartered Bank has forecast that the growth of Vietnam’s economy will slow down to 3.3% in 2020 due to the impacts of external challenges.
YBO - According to the Yen Bai Department of Culture, Sports and Tourism, in the first quarter of this year, Yen Bai welcomed 55,238 tourists, down 56,5 percent from the same period last year and representing 36.2 percent of the yearly plan. The number of international arrivals was 7,488, down 65 percent year on year, while the number of domestic holiday-makers was 47,750, down 57.8 percent year on year.
Many businesses in the northern province of Yen Bai are actively taking measures to prevent the COVID-19 outbreak and protect health of workers while maintaining production.
YBO - Located to the northeast of the province, Luc Yen district has great potential in economic development, especially in trade and services. In order to make the best use of its potential and advantages, in recent years, the district’s People's Committee has mobilized resources to invest in upgrading and developing infrastructure, and improving its trade and service sector.
Domestic airlines on April 15 evening announced they are increasing flight frequency between Hanoi and Ho Chi Minh City as from April 16, but the time difference between two consecutive landings in HCM City should be at least 90 minutes.
As the raging COVID-19 epidemic is seriously affecting the economy, including BIDV’s credit customers, BIDV branch in Yen Bai has been implementing a series of measures to support customers.
YBO - The COVID-19 pandemic has significantly affected production and business activities of individuals and enterprises in Yen Bai province, especially those exporting goods to China. To increase the “resistance” for businesses, commercial banks in the localities have taken various measures to support customers.
YBO - According to the forest protection department of Yen Bai, the province recorded seven forest fires which burned down nearly 57ha in the 2018-2019 dry season. They were mainly caused by the practice of slash-and-burn agriculture.
YBO - The Yen Bai branch of the State Bank of Vietnam (SBV) has implemented numerous measures to support customers affected by the COVID-19 pandemic following directions of the Prime Minister, the SBV and the provincial People's Committee.
A leading official of the General Department of Vietnam Customs just signed an urgent document sent to the provincial and municipal Departments of Customs, asking them to suspend the export of rice from the country starting from 0:00am of March 24.
YBO - Yen Bai province has been taking businesses as both momentum and internal power for local development. Therefore, it has been working to uphold the responsibility of leaders, officials and public servants in the implementation of administrative procedures as well as the settlement of difficulties facing enterprises. Departments, agencies and localities have streamlined administrative procedures and created the best possible conditions for organisations, individuals and businesses.
YBO - With the determination to develop Yen Bai city into a tier-2 urban area, in mid-2018, the city issued a resolution defining targets and solutions to remove bottlenecks in urban construction and gradually fulfill criteria for a tier-2 city following the National Assembly Standing Committee’s resolution on urban classification.
The Vietnamese government is considering delaying the tax payment deadline by five months for businesses affected by the novel coronavirus.
YBO - Yen Bai has reported no bird flu outbreak over the last 10 years and according to a provincial survey, no avian flu virus was detected in the province from 2014 – 2019.
In recent years, Luc Yen district of Yen Bai province has issued many policies encouraging and assisting locals to develop many agricultural models which have proved fruitful.
YBO - The provincial People’s Committee held a Spring meeting on March 1 with local businesspeople and investors. This is an annual activity of the provincial authorities to meet with the business circle to share views for the common goal of development.
The February consumer price index (CPI) slipped 0.17 percent from the previous month due to falling demand for goods after Lunar New Year (Tet) holiday, falling petrol prices, and the coronavirus disease 2019 (COVID-19) outbreak, according to the General Statistics Office (GSO).
The Hello Mu Cang Chai Trade and Services Company Limited was inaugurated in La Pan Tan commune of Yen Bai province’s Mu Cang Chai district on February 25.