Van Yen bolsters investment attraction

  •  Tuesday, June 16, 2020

YBO - 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.

Staff members of a unit handling administrative procedures in Van Yen district serve local people.
Staff members of a unit handling administrative procedures in Van Yen district serve local people.

Furthermore, the Hanoi-Lao Cai railway route and a waterway on the Red River cross through the district, as well as some other provincial routes, notably the Noi Bai-Lao Cai expressway will create uninterrupted transport connectivity in the district.

A synchronous transport network linking with surrounding regions has lured more investors to Van Yen. Of note, due attention has been paid to the planning and investment of an industrial cluster in the west of Mau A bridge, the Dong An and the Bac Van Yen Industrial Parks as a breakthrough in local economic development.

Chairman of the Van Yen district People’s Committee Vu Quang Hai said to attract investors, the district has improved investment climate in line with administrative reforms. 

It has worked to eliminate non-essential procedures, apply information technology and build a process to quickly and efficiently handle administrative procedures, he added.

With an open-minded mechanism and commitment to supporting firms, Van Yen district has created a breakthrough in the number of investment projects. Some businesses with great potential have come to the district, including Xuan Thien, Graphite Group, Thai Duong Group and Dong An.

Especially, cinnamon produced in Van Yen has caught the eye of many firms, particularly the wholly foreign-invested Son Ha Spice and Flavorings based in Tu Son, Bac Ninh.

Van Thong

Other news
The road connecting national highway 32C and Noi Bai-Lao Cai expressway will optimise the development of Yen Bai city and Tran Yen district toward the right bank of Red River.

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.

Van Yen district hosts an annual government-business meeting every spring.

Van Yen district has created favourable conditions for all the economic sectors, especially the private one, develop production.

A transaction office of Vietcombank in Laos

Vietnam invested 49.3 million USD abroad in the first three months of 2020, with the US being the biggest recipient.

Leaders of Yen Bai province grant investment intention certificates to investors in February 2020.

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.

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