Yen Bai creates a Favorable Environment for Business Development

Economy

Yen Bai creates a Favorable Environment for Business Development

Monday, May 5, 2025

YBO - As part of its annual socio-economic development program, Yen Bai Province consistently prioritizes business support and development, setting a specific goal of reaching at least 5,000 enterprises by the end of 2030. To achieve this target, the province continues to intensify administrative reform, improve the investment environment, and enhance its competitiveness-while reaffirming its commitment to accompanying and facilitating businesses in operating effectively and growing sustainably.

In the first quarter of 2025, Yen Bai Province approved investment policy decisions for 12 projects.

The vital contributions of enterprises, cooperatives, and investors are clearly reflected in Yen Bai’s socio-economic performance in recent years. In 2024 alone, the province maintained solid growth with a rate of 7.91%, ranking 7th out of 14 provinces in its region and 25th out of 63 nationwide. In the first quarter of 2025, the province recorded an impressive GRDP growth rate of 9.58%, ranking 5th in the Northern Midland and Mountainous region and 12th nationwide.

These achievements result from Yen Bai's proactive and effective implementation of key resolutions issued by the Central Party, the Politburo, the National Assembly, and the Government. The province has introduced a number of investment incentive policies and support measures for enterprises across various sectors, including agriculture, forestry, fisheries, tourism development, small and medium enterprise support, cooperative economy development, human resource training, and administrative reform.

In collaboration with enterprises, Yen Bai also emphasizes vocational training aligned with market demands, particularly in sectors where the province has advantages. Maintaining an open and cooperative stance, provincial leaders have hosted multiple meetings and dialogues with businesses and investors to address obstacles in their operations.

All proposals and concerns raised by enterprises are carefully addressed by relevant departments and local authorities, with transparency in administrative procedures, allowing businesses to monitor implementation. This approach has helped remove bottlenecks and enabled enterprises and cooperatives to operate and expand more smoothly.

Furthermore, the province’s Special Task Force has actively assisted businesses and investors with navigating administrative processes related to project proposals and implementation.

By consistently listening, supporting, and working alongside investors, Yen Bai has created a strong foundation for attracting new projects. In the first quarter of 2025 alone, the province approved investment policies for 12 new projects with a total registered capital of VND 1,756.4 billion, amended certificates for 16 existing projects, and issued new business registration certificates for 67 enterprises. This brings the total number of investment projects in Yen Bai to 659, covering industries such as manufacturing and construction, agriculture and fisheries, commerce, services, and other economic sectors.

Demonstrating his readiness to support and collaborate with the business community, Mr. Nguyen Tuan Anh, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, emphasized: "The province remains steadfast in implementing consistent, comprehensive, and stable policies to support investment. We will focus resources on developing synchronized, modern infrastructure, while accelerating administrative reforms and improving the investment environment. The key is to streamline and shorten the processing time for land, investment, construction, taxation, customs, and site clearance procedures. We are committed to transparency, empathy, and proactive problem-solving, ensuring the legitimate rights and interests of businesses and investors.”

With its strong commitment and decisive actions, Yen Bai’s leadership continues to lay a solid foundation for the province to become a dynamic and attractive destination for both domestic and international businesses, paving the way toward achieving double-digit growth in 2025 and beyond.

Thanh Chi

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Economy