Yen Bai Province's effort to connect and develop

Yen Bai Province, located in the center of the Northern midland and mountainous region, owns significant geo-political and geo-economic positions. This is a strategic connection point between Northeast and Northwest, as well as the midpoint of the Kunming - Lao Cai – Hanoi - Hai Phong - Quang Ninh economic corridor. It also has abundant natural resources, skilled labor forces, and synchronous transportation.

Over the past few years, Yen Bai has implemented drastic and synchronous tasks and solutions to foster administrative reform, improve corporate investment, improve competitiveness at a provincial level, proactively attract investments, exploit the full potential and benefits of the province as well as mobilize and use effectively all resources for rapid and sustainable socio-economic growth.

Potential, benefits, and growth opportunities

The Noi Bai - Lao Cai highway, which has been put into operation, has provided Yen Bai with a fresh, direct, and outstanding growth potential, offering the province several advantages in terms of accessing high-quality infrastructure. International and national airports (Noi Bai international airport, Hai Phong seaport, Quang Ninh, Lao Cai international border gate, etc.) have provided Yen Bai with numerous opportunities to increase trade not only at the national level but also at a worldwide level, particular with China's southwestern provinces and ASEAN nations; at the same time attracting investment to exploit potential strengths for comprehensive socio-economic development.

Yen Bai has good touristic potential in terms of natural tourism resources, in addition to the potentials and strengths available inland resources, forest resources, mineral resources, and so on. National scenic spots Mu Cang Chai terraced fields, Thac Ba lake, Suoi Giang ancient tea forest, Dong Cuong temple, Dai Cai temple, etc. Rich human resources also allow Yen Bai to organize job training, attract regional employees contributing to improving the economy and society. Yen Bai is the fourth biggest vocational training province of the Northern area with quality human resources and a high percentage of qualified laborers of 63%.

Chairman of Yen Bai People's Committee, Mr. Tran Huy Tuan.

Opportunities to leverage and promote available development resources are forming, particularly in terms of infrastructure for industrial parks, industrial clusters, and tourist destinations. External economic relations have been expanded (currently, the province has relationships with many major donors such as the World Bank, Asian Development Bank, Japan International Cooperation Agency, etc.; foreign investors such as Korea, Japan, France, Taiwan, China, India, etc.) which is the premise for promoting resource mobilization and investment attraction for local socio-economic development.

Promote connection, investment attraction toward sustainable development

The socio-economic situation of Yen Bai province has improved significantly in recent years, thanks to the efforts of all levels, branches, localities, the business community, and the consensus and support of the people. Importantly, production, business, and service activities continued to grow, many indicators increased over the same period, social security was maintained, national defence and security were maintained, and human life was preserved. The population is kept stable.

Administrative reform has been successfully implemented, with good outcomes that have improved the province's ranking and have been recognized and appraised by the general public and business sector. Indicators that represent the province's corporate investment climate have shifted dramatically. The Provincial Competitiveness Index (PCI) ranks 33rd out of 63 provinces and cities in 2020, up to three places from 2019, and up 18 places from 2015. The Public Administration Reform Index (PAR INDEX) ranks 24th out of 63 provinces and cities in 2020, up to two places from 2019. The Administrative Service Satisfaction Index (SIPAS) placed 16th out of 63 provinces and cities, up to three spots from last year; the Governance and Public Administration Performance Index (PAPI) is in the country's High Average group.

Currently, 544 investment projects with a total registered capital of 116,074 billion VND and 382 million USD have been attracted to the province. The number of new businesses in the province has increased fast, as well as their registered capital; there are currently 2,603 businesses in the province, with a total registered capital of almost 29,000 billion dongs. Many significant local and international investors, including Vingroup, Sungroup, TH, Hoa Sen, APEC, FLC, Eurowindow Holding Joint Stock Company, and others, have chosen Yen Bai as a safe investment site.

Yen Bai province has made constant efforts to create an appealing investment and business environment, promoting and establishing favorable conditions for investors to search for investment opportunities in the province. In the spirit of the resolution of the 19th Provincial Party Congress, Yen Bai was established for many domestic and international visitors and the aim was to find widespread investment opportunities in the region, propose solutions in attracting investment in a modern, environmentally friendly direction, and establish an engine for fast and sustainable social and economic development. The province is also continuing to innovate and enhance the efficiency of investment promotion, particularly on-the-spot investment promotion; willing to listen to, share, and accompany businesses; focusing practically and effectively on implementing synchronous solutions to tackle investment difficulties, production and business activities in companies.

In 2021, the first year of implementing the 13th Party Congress Resolution, the 19th Provincial Party Congress Resolution, term 2020-2025, in the context of the Covid-19 outbreak, numerous obstacles and hurdles remain. Yen Bai province, on the other hand, has always worked to accomplish socio-economic development goals and tasks, ensuring the achievement of “dual goals” under the motto of “innovation, creativity, decisiveness, discipline, and efficiency.”

The Resolution of the 19th Party Congress of Yen Bai province has set the goal of striving “to become a quiet province by 2025 and in the group of leading developed provinces of the country”, based on the province's socio-economic development conditions, potentials, strengths, and comparative advantages, as well as high political determination and new points in the local development strategy for the new period. At the same time, Yen Bai develops strategic breakthrough ideas for building “green, harmony, identity and happiness” both immediate and long-term.

A view from above of Mu Cang Chai - Yen Bai Province. (Photo: Long Nguyen)

Yen Bai province will continue to promote the achieved outcomes, restructure the economy in conjunction with the renewal of the growth model to accomplish the economic development goals and targets the next time. The province has offered seven groups of tasks and solutions aimed at boosting the realization of three major breakthroughs: administrative reform, e-government in smart cities, and economic development. Encourage start-ups and the development of economic sectors by creating an open and advantageous investment and business environment for people and businesses.

Furthermore, the province has been concentrating on directing and speeding up construction progress, as well as promulgating resolutions, directives, schemes, policies, master plans, and plans for the 2020-2025 period; implementing the province's planning for the period 2021-2030, with a vision to 2050 as a foundation for implementing socio-economic development tasks in the coming years.

Tightening discipline, administrative discipline, innovative management approaches, flexibility in operational and performance work; improving heads' responsibilities, continuing to develop dramatic and successful solutions for administrative reforms. Land, investment, construction, the establishment of suitable commercial and human conditions.

Concentrating on completing tasks that serve the entire term, such as: formulating resolutions, schemes, and policies; completing five-year and annual master plans, programs; and compiling a list of attracting investment projects for the entire term in order to be proactive in attracting investment in the direction of rapid and sustainable development by maximizing potential and minimizing risk.

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