YBO - The northern mountainous province of Yen Bai has enjoyed significant socio-economic development over the past years. In 2018, the locality’s gross domestic product (GDP) growth reached 6.31 percent, all basic criteria were completed or exceeded the set plan, budget collection surpassed 2.9 trillion VND, total social development investments were over 11 trillion VND, the industrial production value reached 9.7 trillion VND, and the export value hit over 130 million USD.
Leaders of Yen Bai province grant investment intention certificates to investors in February 2020.
Last year, its GDP recorded the highest-ever growth rate of 7.03 percent, while budget collection exceeded 3.5 trillion VND. The province saw over 15 trillion VND in social development investments, more than 12 trillion VND in its industrial production value, and over 170 million USD in the export turnover.
The results were attributed to the province’s efforts to improve its business and investment climate to attract more enterprises.
With the motto of "Investors to Yen Bai are citizens of Yen Bai, success of enterprises is that of the province", the locality always pays attention to mobilising resources to invest in infrastructure and actively bettering its investment and business environment.
The province commits to well implementing policies on investment attraction, creating all favourable conditions for and closely cooperating with investors and enterprises, and building an open and transparent business environment.
At the same time, it issues more investment incentives on land rent and water surface rent, as well as providing support related to ground clearance, infrastructure construction and labour training.
As a result, more and more domestic and foreign enterprises come to and pour their capital into Yen Bai. In 2018, there were 35 projects granted with investment policy decisions and investment registration certificates.
As a result, more and more domestic and foreign corporations and businesses are coming to Yen Bai to study investment chances and open their pockets. In 2018, the province granted investment intention and investment registration certificates to 35 projects. The figure in 2019 was 54 projects with a combined capital of 16.78 trillion VND.
In the year, the province received 46 proposals to conduct research and survey as a basis for investment from 36 investors and approved the survey plans for 31 projects of 21 investors. By the end of 2019, the province had 466 investment projects with a total capital of over 88 trillion dong and over 354 million USD.
Construction work on the Apec Golden Valley Muong Lo Tourism-Trade Urban Complex began in Pu Trang ward, Yen Bai province’s Nghia Lo town on August 16.
Major Japanese enterprises are looking to buy Vietnamese IT firms through merger and acquisition (M&A) deals to expand production and business in the Southeast Asian country, reported Dau tu (Investment) newspaper.
The Yen Bai People’s Committee, in collaboration with Vu Gia Yen Bai Mineral Processing and Exploitation joint Stock Company, organised a ceremony to begin construction work at the Vu Gia Yen Bai white limestone project in Hop Nhat village, Thinh Hung commune, Yen Binh district on August 11.
Van Yen district of Yen Bai province holds various advantages and room for growth, especially in geographical location, as it straddles in the Kunming-Lao Cai-Hanoi-Hai Phong-Quang Ninh economic corridor.