5:00:12 PM | 9/7/2013
Yen Bai province and its capital Yen Bai City in particular, are an important link in the Kunming - Lao Cai - Hanoi - Hai Phong economic corridor. Yen Bai City is the centre of politics, economy, culture, science and technology of the province and a driving axis of the province’s eastern economic development zone, and one of 14 sub-regional centres of the northern upland region.
As it faces a lot of difficulties in the urbanization process, Yen Bai City has a plenty of attractive investment policies to draw domestic and foreign investors, especially into its industrial zones. At the upcoming investment promotion event, the city will introduce a list of 17 projects in need of investment in the 2011-2015 period, of which 13 projects will be located in industrial parks surrounding Yen Bai City.
Currently, Yen Bai City is promoting investment into industrial zones like Au Lau Industrial Park (120 ha) and Minh Quan Industrial Park (112 ha) to develop such sectors as apparel, footwear, engineering, electronics, chemical, automotive assembly, and agro-forestry processing, infrastructure construction and industrial zone development. Besides, endowed with other potentials like abundant labour resources and rich forest and mineral resources, the city has very favourable conditions to develop such sectors as footwear, construction material, mining, agricultural and forestry processing, and construction material.
In the coming time, Yen Bai City will continue to take industrial and handicraft development as a breakthrough step in economic development. It will focus on industries with advantageous input materials and with comparative advantageous strengths like extractive industry, agro-forestry processing, metal production and construction material production. At present, the city is calling investors to invest in automotive assembly, motorcycle, electronics, footwear and construction material; build warehouses in Au Lau commune; process agricultural and forest products like cinnamon oil, noodle and tea; process wooden products like logs, flooring planks and indoor furniture; and produce unburned materials.
Regarding services, Yen Bai City is calling investors to build hotels, commercial centres, supermarkets, highway stops, bus stations, green parks and schools. Investors are invited to develop Nam Cuong Lake and Yen Hoa Park for amusement, service and trade purposes.
In agriculture and forestry, the city attracts enterprises and residents to grow high-valued mushrooms. Gioi Phien and Phuc Loc communes are famous for much-liked vermicellis. The communes produced over 500 tonnes of vermicelli in 2011. To increase the value and commerciality of vermicelli, Yen Bai City calls companies to invest the specialty product as their brand name, financial capacity and market are huge advantages.
In the first six months of 2013, the total development investment capital Yen Bai City reached VND692.5 billion, up 16 percent from the same period in 2012 and equal to 46.1 percent of the full-year plan. In 2013, Yen Bai City is carrying out 25 projects, including five projects started from 2012, 18 fresh projects, and two pending projects. The total investment capital is VND21 billion, of which the province contributes up to 70 per cent and the city contributes 30 per cent. In the last six months of 2013, the city targets to attract VND807.5 billion of development investment capital, bringing the total value in the year to VND1,500 billion.