YBO - Van Yen district has created favourable conditions for all the economic sectors, especially the private one, develop production.
Van Yen district hosts an annual government-business meeting every spring.
The district has regularly held dialogues and meetings with local firms and cooperatives to help them remove barriers, adopted supportive policies for start-ups and small- and medium-size enterprises, and encouraged household businesses to register as a company, said Chairman of the district’s People’s Committee Vu Xuan Hai.
By the end of 2019, Van Yen had had 761 production establishments in industry and handicraft developing towards modernisation, environmental protection, and natural resources presevation and diversification.
Thanks to its efforts to improve local business climate, the district has attracted 26 projects, worth over 5 trillion VND.
Over the last five years, a total of 119 enterprises have been founded in the district, nearly doubling 2015’s figure. At the same time, 49 cooperatives have been set up, bringing the total to 79.
The firms have exerted a lot of efforts to apply advanced technology, expand production and seek new markets for their products. They have also managed to diversify their products to meet demand of foreign markets. For example, the district used to produce only dry cinnamon bark and cinnamon essense but now there are more than 50 cinnamon products made in the district.
In 2020 and the years to come, the district plans to continue promoting innovation, making the most of all resources and potentials so as to develop infrastructure.
It will particularly draw investment to infrastructure in industrial clusters with an aim of raising the number of projects there by 2.5 times by 2025.
The district also plans to lure more investment and enhance cooperation in the production of high-value products, such as high-class wooden furniture and cinnamon essense, to meet export standards while further diversifying products from cinnamon to make the most of its value.
It will welcome potential investors in major projects like a hydropower facility on Thia and Hut canals, mining and processing of rare earth, graphite and iron ore and production of building materials.
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.
A road linking national highway 32C with Noi Bai-Lao Cai expressway was opened to traffic during a ceremony held in northern Yen Bai province on May 19 to mark the 130th birthday of late President Ho Chi Minh.
Vietnam invested 49.3 million USD abroad in the first three months of 2020, with the US being the biggest recipient.
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.