Yen Bai – a favourite destination for investors

Potential and investment

Yen Bai – a favourite destination for investors

Saturday, May 1, 2021

YBO - Yen Bai province remained a favourite destination for both domestic and foreign investors as it lured 71 projects with a total registered of over 200 million USD despite the challenging COVID-19 year of 2020.

Packaging production at Red Stone Minerals joint Stock Company at Southern Industrial Park.

Currently, Yen Bai is housing more than 2,400 enterprises who are investing in 552 projects in the locality. Of the total, 495 are run by domestic investors at the total cost of over 112.45 trillion VND (4.87 billion USD), and 27 by foreigners at 381.1 million USD.

Notable projects are An Viet Phat Group’s 452.8 billion VND wood pellet production plant and 313.4 billion USD plant for plywood processing and export; Vietquartz Yen Bai quartz processing plant with registered capital of 289 billion VND, and Thien Ha Company’s high-tech farm and afforestation project worth 168 billion VND.

In the first quarter of this year, the province granted in-principle approval for eight projects with total investment of 404 billion VND, and approved adjustment of investment certificates for five others.

Strong corporations have come to study the investment opportunities in the province. Viglacera Corporation was allowed to survey local planning, and propose the industrial-urban-service complex at IC 12 interchange on Noi Bai – Lao Cai expressway, 420 hectares of the area were zoned off for industrial zone development, and remaining 80 hectares for urban and service development.

In the coming time, the province will prioritise strategic investors with high-tech and environmentally-friendly projects. It will also sharpen focus on attracting investments in the fields of local strengths.

The Chairman of the provincial People’s Committee signed a decision to set up a working group who is responsible for handling legal procedures and removing bottlenecks for investors. This means Yen Bai province always works to create favourable conditions for potential corporations who land investments in the locality.

Van Thong

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Yen Bai-based Netma JSC turns by-products into main ones

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Yen Bai aims to become attractive destination for investors

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Potential and investment