LotusHotel has been building in Yen Bai city by Hoa Sen Group.

Although, Yen Bai locates in gateway of the Northwest and hides itself potentials for development, previously Yen Bai had not had any big breakthroughs in attracting investment to promote the socio-economic development of the province.

In 2014, the Noi Bai – Lao Cai highway started to be operated, especially after the inauguration of flood-avoiding road and interchange IC12, Yen Bai was connected to this important route. Besides, there has been a series of promotion and attracting investment of Yen Bai province which were implemented to make Yen Bai – the “Sleeping Princess” wake up with a series of domestic and international projects in different fields that opened great opportunities for the development of the province.

Profession, Dr. Tran Dinh Thien – Director of Vietnam Institude of Economics once said: “As the later comer, Yen Bai province had many advantages so Yen Bai is comfortable in selecting and avoiding the disadvantageous problems that the former localities had suffered from…. Dr. Tran Dinh Thien had discussion with the provincial leaders so that the leaders had working sessions with big enterprises such as: Vingroup, TH, Vinamilk, Hoa Phat…Appearance of these big groups with many sectors and many enterprises would help to develop a large area.

With determination and practical and enthusiastic actions of the provicial leaders, Yen Bai has attracted a series of big names to come there. These enterprises have implemented many big projects with large scale to exploit local potentials and strengths and open the opportunities of substainable development.

In short time, big names such as Vingroup, Hoa Phat, Hoa Sen or Tran Anh – a big name in electronic goods, computers and mobile phones - appear in Yen Bai province.

Hoa Phat is the first Group to appear in Yen Bai province. The Giant in steel industry came to Yen Bai with Hoa Yen Joint Stock Compamy, in sector of iron ore mining and processing.

Since 2015, Hoa Phat Group has invested 200 billion dong in building facilities to breed pigs in large – scale ans high technology in Luong Thinh commune, Tran Yen district. On May 26^th 2016 among 1.250 super-purebred pigs have been brought from Denmark to feed here. The pig breeding system of Hoa Phat opened up great opportunities for national livestock breeding when having a high – quality generation  of breeding  pigs. 

After that, Vingroup decided to invest on housing – trading by building Vincom Shophouse Yen Bai in the combination of Vincom Plaza Trading Centre which is the first project of Vingroup in the Northwest area. The project includes 104 shop - houses which are arranged into two areas. All shop – houses are situated surrounding Vincom Trading, the modern and luxurious trading centre which is developed in the model of “One destination – All needs” in Yen Bai province.

On May 2016, Hoa Sen Group held a groundbreaking ceremony of the project Hoa Sen Hotel Trading Center in Yen Bai province. The project has a total of 1.200 billion VN dong. It is a complex area including 4 star hotels, restaurants, conference center, luxury apartments….The complex is built in area of 1.5 ha which is located  in the centre of Yen Bai province.

Recently, Tran Anh – a big name in trading electronic goods, computer and mobile phones has jumped into Yen Bai market. With the decision of appearing in Yen Bai, Tran Anh puts its faith for its success and development in Yen Bai. With its experience, Tran Anh is hoped to overcome other competitors to develop in Yen Bai province.

Making efforts to reform administrative procedures, constantly attracting investors, promoting the potentials and strengths of locality and the way we all that is how to “try before you trust” when choosing the big names to come here and make successes in Yen Bai.