Yen Bai Creates Favourable Investment Climate

Yen Bai province granted investment licenses to 277 projects with a total registered capital of VND18,166 billion in 2006 - 2010, of which 109 projects have been in operation with a total capital investment of nearly VND2,836 billion and US$11.49 million. To date, many projects are operating effectively, including the VND1,160 billion Yen Binh cement plant with a yearly output of 910,000 tonnes invested by Yen Binh Cement Joint Stock Company; the VND295.5 billion expanded Yen Bai cement plant with an annual output of 300,000 tonnes of clinker; a project invested by T&T Scientific and Technological Research, Application and Services Joint Stock Company to culture breeding sturgeon, salmon and other fishes; an export tea processing facility invested by Phu Tan Joint Stock Company; and a project invested by Thanh Dat Co., Ltd to manufacture plywood. These projects create jobs for thousands of workers and serve important roles in promoting economic growth, economic restructuring and living conditions of local people.

 

The current outcomes result from Yen Bai province’s efforts to step up administrative reform, investment attraction policies, and production expansion policies. Administrative reform is simultaneously carried out in all four areas: institutional reform, administrative apparatus reform, personnel quality improvement, and public financing reform.

 

In addition, Yen Bai province is endeavouring to attract all available investment resources and strengthen cooperation with leading corporations. The locality pays attention to attracting all resources to develop transport systems, including roads, railways and waterways, and applying different investment forms like BT, BOT, BTO and PPP. Hence, roads have connected important parts in the province. It is focusing on upgrading infrastructure systems and expanding the space of Yen Bai City, building new modern large-scale urban areas on the right bank of the Red River, and constructing modern satellite towns like Tran Yen, Yen Binh and Van Yen.

 

To date, the province has completed the master plan for construction of industrial parks from 2010 to 2015, with vision toward 2020. Yen Bai will have five industrial parks with a total area of 1,182 ha by 2020, including three operational industrial parks (the 137.8-ha Nam Yen Bai Industrial Park is housing 10 projects on 57.93 ha - 73 percent of rentable area, including six in operation and four under construction; the 112-ha Minh Quan Industrial Park; and the 72-ha Bac Van Yen Industrial Park). The other two (the 118.35-ha Au Lau Industrial Park and the 90-ha Mong Son Industrial Park) are under construction. The Government has issued Decision 110/QD-TTg dated August 21, 2006 to add Nam Yen Bai Industrial Park into the National Industrial Park Development Plan, allowing the province to enlarge its area to 532.8 ha. Yen Bai will have 19 small-scale industrial complexes covering 1,100 ha by 2020.

 

With its improvements and efforts in all aspects, the conditions and business environment in the province is more attractive to investors. Their satisfaction is reflected on the high standing of the province on the provincial competitiveness index (PCI) in the past five years.