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.
Hai Phong Port joint Stock Company has recently signed a pre-investment consulting contract to build container berths No 3 and 4 in Hai Phong International Gateway Port.
YBO - To promote measures and policies for supporting businesses, the People’s Committee of Yen Bai province has organised the monthly “Entrepreneur Cafe” programme since 2016.
YBO - At present 32 projects and programmes funded by foreign partners are being carried out in Yen Bai with total committed grant of more than 15 million USD (351 billion VND).
Vietnam has not only become an attractive tourist address but it has also been selected to shelter and start business in by many foreigners. In addition, many Overseas Vietnamese have decided to return their homeland after years living abroad. This is a convincing evidence of the image of a peaceful, stable and developing Vietnam.
YBO - Authorities of northern Yen Bai province granted investment approval decisions to 61 projects with total registered capital of over 17.31 trillion VND (743 million USD) and more than 2.08 million USD in 2019 and January this year.
YBO - Prime Minister Nguyen Xuan Phuc has recently issued Decision No.189/QD/TTg on building a road connecting Nghia Lo township in Yen Bai province with Noi Bai-Lao Cai Expressway as part of the national road transportation development plan by 2020, with a vision towards 2030.
Vietnam’s telecom firm Viettel announced it is the 6th company in the world to manufacture 5G devices.
According to the Ministry of Industry and Trade, currently many industrial firms of Vietnam have not mastered the core technology, and they mainly join sections of low technological contents and added values.
YBO - As of July 2019, Yen Bai province granted investment licences to 485 projects with total registered capital of 71 trillion VND (3.07 billion USD) and 430 million USD.
Exactly two years after achieving a record benchmark of US$400 billion, Vietnam’s import-export turnover officially reached US$500 billion at the end of December 2019, helping the country enjoy a trade surplus for the fourth consecutive year.