Mu Cang Chai's terraced rice fields, designated as a National Special Relic, are among the province's prominent attractions, ranking first on Wanderlust Storytellers' list of 25 "surreal beauty" destinations. Thac Ba Lake, covering over 53,000 hectares, has been approved for a master plan as a National Tourism Area by 2040. These are key assets for attracting investment and leveraging the province’s economic and social development potential.
Yen Bai's approach is not limited to broad statements but focuses on concrete actions. The province prioritizes investment in comprehensive infrastructure, ensuring seamless trade connections, planning and developing industrial zones and clusters, and training a skilled workforce, particularly for high-demand sectors to meet the needs of domestic and international enterprises. Furthermore, Yen Bai has established a range of favorable policies, committing to strong support measures and fostering close cooperation with investors and businesses. Efforts include creating a transparent, attractive, and business-friendly environment, coupled with specific local policies beyond the general framework. In 2024, despite facing significant challenges from adverse international factors, a transitioning economy, and the severe damage caused by Typhoon No. 3 in September 2024, Yen Bai has demonstrated unwavering determination, substantial effort, and decisive actions. With timely, flexible, and effective implementation measures, the province has managed to sustain its economic and social development goals.
Yen Bai has made notable progress in investment attraction and enterprise support. The provincial People’s Committee issued Decision No. 1103/QD-UBND to enhance investment attraction for the period 2023–2025, with a vision toward 2030. The decision prioritizes projects involving high technology, efficient use of natural resources, and environmentally friendly practices. Yen Bai emphasizes on-site investment promotion, providing reception, consultation, and guidance for investors during their surveys and related procedures. Simultaneously, the province actively identifies and resolves difficulties and obstacles, facilitating smooth operations for investors and businesses by expediting legal procedures for land use, investment, construction, taxation, and credit.
Yen Bai Province Maintains Quality and Effectiveness of the "Entrepreneur Coffee" Program to Promptly Address Challenges and Obstacles for Enterprises and Cooperatives.
As a result, by the end of 2024, Yen Bai had approved investment policy decisions for over 60 projects, with a total registered investment capital exceeding VND 10.6 trillion, marking an increase of approximately VND 2 trillion compared to 2023. Many of these projects focus on industrial infrastructure, manufacturing, and deep processing of the province's key agricultural and forestry products.
To date, Yen Bai has cumulatively approved 638 projects with total registered capital exceeding VND 103 trillion and USD 420 million. The province also prioritizes enterprise support in technological innovation, application of scientific and advanced technologies in production, and digital transformation. Initiatives encouraging creativity and entrepreneurship among the business community are actively promoted. Yen Bai continues to enhance initiatives such as the "Weekend with Citizens and Enterprises" and the "Entrepreneurs’ Coffee Program," maintaining their quality and effectiveness. These programs help the province address challenges faced by businesses and cooperatives, particularly those related to administrative procedures, land, taxation, labor, market access, and import-export activities.
In 2024, Yen Bai issued certificates of registration for the establishment of 300 new enterprises, achieving 100% of the target. Additionally, the province established 103 new cooperatives, exceeding the plan by 28.8%, and 532 cooperative groups, surpassing the plan by 77.3% and increasing by 6.7% compared to 2023. Notably, in 2024, the Japanese EREX Group invested in constructing a biomass power plant with a total registered capital of USD 118 million. This project contributes to promoting sustainable energy solutions and supporting Vietnam's commitment to achieving net-zero emissions by 2050. In agriculture, forestry, and fisheries, Yen Bai focuses on value chain-based production, commodity-oriented livestock farming, organic specialties, and sustainable development of raw material forest areas. To date, the province has established large-scale, high-quality agricultural production zones, including 4,800 hectares of concentrated rice production, 1,255 hectares of mulberry cultivation, and 5,000 hectares of fruit orchards.
To further improve the business and investment environment in 2025, Yen Bai will continue restructuring its economy while innovating its growth model and enhancing economic competitiveness. The province aims to effectively implement tasks to improve the business environment and competitiveness, focusing on enhancing the Provincial Competitiveness Index (PCI). Key efforts will include breakthrough, innovative, and effective solutions to improve sub-index scores and evaluation criteria. Administrative reform remains a priority, particularly in streamlining procedures related to investment, land use, and construction.
The province will continue to implement preferential policies and support measures to encourage investment and economic development under its 2021–2025 economic plan. Additionally, Yen Bai plans to innovate and improve the quality of enterprise support activities, particularly in investment promotion, trade promotion, market exploration, partnership building, and brand development. Strengthening education and training programs to produce a high-quality workforce tailored to business needs will also be a critical focus area.
Thanh Phuc
