Improved infrastructure, clear administrative procedures, attractive incentive policies - Yen Bai is gradually becoming an ideal destination for investors in industrial parks. Capital flows into industrial parks in the area have grown strongly, many key projects have been implemented, contributing to promoting the socio-economic development of the province.
Labors in the North Industrial Park.
in 2024, Yen Bai recorded clear marks in attracting investment into industrial parks. According to the Provincial Industrial Park Management Board, 17 investors were introduced to locations with a total registered capital of more than 2,100 billion VND.
Notable among them is the Tran Yen Industrial Park Infrastructure Investment and Construction Project with a scale of 254.59 hectares and a total investment of VND 2,184 billion, which is expected to create a breakthrough in attracting secondary enterprises to Yen Bai. Along with that, a series of other key projects are being vigorously implemented.
Not only attracting investment, Yen Bai also actively supports businesses to quickly and effectively implement projects. The Industrial Park Management Board has closely coordinated with departments and branches to speed up site clearance, promptly handle problems related to land, environment, fire prevention and fighting, etc.
Mr. Vu Minh Tuan - Deputy Head of the Provincial Industrial Park Management Board emphasized: "We always accompany investors from the stage of preparing procedures until the project comes into operation. The spirit of the province is to create the most favorable conditions for businesses to feel secure in production and business."
According to the Industrial Park Management Board, by the end of 2024, the province had attracted 88 investment projects in industrial parks, with a total registered capital of more than VND 15,290 billion. Of which, 47 projects have been put into operation or are in trial operation, contributing to the province's economic growth. In 2024, the value of industrial production in industrial parks reached VND 9,290 billion, up 40.1% over the previous year. Exports also recorded a leap with a total turnover estimated at 170.8 million USD, up 69.7%.
In addition, the province also focuses on improving the quality of labor in industrial parks, ensuring human resources to meet the needs of enterprises. The total number of laborers in industrial parks is currently over 5,000 people, with an average salary of about 6.5 million VND/person/month. Some enterprises such as Thien An Vietnam Wood Industry Company Limited and Vietnam Mineral International Joint Stock Company have higher average salaries, reaching 7 - 7.5 million VND/month.
In addition to attracting investment, the province also focuses on improving infrastructure to welcome a stronger wave of investment. Yen Bai has invested hundreds of billions of VND to develop transportation systems, wastewater treatment, and lighting in industrial parks: Minh Quan, Au Lau, and the Southern Industrial Park.
Currently, Yen Bai is promoting investment, aiming at deep processing industries, high-tech and environmentally friendly production, and in order to effectively attract investment projects in industrial parks, the Provincial Industrial Park Management Board is synchronously implementing many important solutions, focusing on reforming administrative procedures, promoting digital transformation, creating a transparent and favorable investment environment for businesses.
The province also focuses on removing difficulties and obstacles in compensation, site clearance, and completing legal documents on land to support investors in quickly implementing projects. In addition, the province strengthens inspection and review of investment projects, resolutely handling violations; at the same time, urging enterprises to comply with regulations on land, environment, construction, fire prevention and fighting, etc.
With these drastic steps, the province hopes to create momentum for a new wave of investment, contributing to promoting socio-economic growth, making Yen Bai an attractive destination in the midland and mountainous regions of the North.
One of the bright spots that helps Yen Bai attract strong investment is the reform of administrative procedures and improvement of the business environment. In 2024, 98% of investment procedure records were transacted online, minimizing time and costs for businesses. In addition, preferential policies on taxes, land rents, and legal procedure support also help investors easily implement projects. The Industrial Park Management Board has supported 23 investment projects in production and business, 7 projects with budget capital, with a total recovered land area of 206.9 hectares.
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