Last year, the province recorded 319 newly-established businesses with a total registered capital of nearly 3.6 trillion VND, bringing the total number of local firms to 2,960, up 302 from 2021. They contributed to 62.8% of the provincial budget's revenue.

In 2022, 37 projects were licenced with a total registered capital of more than 10.7 trillion VND. So far, the province has granted licences to 600 projects valued at more than 93.68 trillion VND and 402.1 million USD.

Hailing the business community, entrepreneurs and investors’ contributions to the province's development over the past years, Chairman of the provincial People’s Committee Tran Huy Tuan wished that they would keep renovating themselves, overcome challenges and improve business efficiency.

He called for attention to actively seeking new markets, renewing technology, strengthening production connectivity, raising awareness and mindsets based on digital technology. Businesses need to build new brands and seek promising markets, improve the material and spiritual lives of workers and accompany the province in social welfare work.

The official stressed that during 2023 and subsequent years, Yen Bai will prioritise investment in hi-tech, eco-friendly and energy-friendly projects while attracting strategic and capable investors to launch large-scale projects that have widespread impacts.

He asked departments, agencies and localities to effectively adopt measures to improve the provincial investment environment, promptly perform support policies and tackle difficulties faced by firms, and assist them in seeking markets and partners, workforce training and branding.