The year 2018 closed, marking a remarkable development in the province's socio-economic development. The growth rate of total products in the province reached 6.31%, of which the agriculture, forestry and fishery sector increased by 4.2%, the industry and construction sector increased by 8.96%, service increased by 5 , 86% ... 31/31 targets were completed and exceeded the plan. Budget revenue reached over VND 2,900 billion; total development investment capital reached over VND 11,000 billion; industrial production value reached over VND 9,700 billion; export value reached over 130 million USD ...

These impressive figures are the crystallization in leadership, direction and administration of the Provincial Party Committee, People's Council, People's Committee, especially the promotion of restructuring the economy. The focus is on restructuring agriculture associated with new rural construction; industry develops in a fast, sustainable and effective manner in association with environmental protection, promoting the potentials and advantages of the province; attach importance to investment in improving the socio-economic infrastructure system, in combination with promoting trade promotion and attracting investment in trade and service development.

In particular, Yen Bai has focused on synchronous implementation of solutions to improve the business investment environment, improve provincial competitiveness and enhance external economic activities. In 2018, Yen Bai also promoted the effective implementation of three strategic breakthroughs (promoting administrative reforms, mobilizing and integrating resources for socio-economic infrastructure construction and implementation of solutions to improve the quality of human resources).

In attracting investment, Yen Bai province has well implemented policies to encourage investment attraction, create conditions to support and cooperate closely with investors and enterprises.

Besides, Yen Bai has built a clear, transparent and attractive business environment. Coming to Yen Bai, investors will enjoy additional investment incentives such as: the price of land rent, water surface rent, support for ground leveling, support for construction of infrastructure connection works, supporting local labor training funding ...

As a result, more and more domestic and foreign corporations and businesses come to Yen Bai to learn and invest in Yen Bai. In only 3 years (2016 - 2018), Yen Bai has issued a decision on investment policies for 128 projects with a total capital of over VND 31,262 billion.

In 2018, there were 46 investment projects in the province, with registered capital of thousands of billion dong; 220 enterprises were  newly established with registered capital of over VND 2,300 billion, bringing the total number of enterprises in the area to 1,930 enterprises.

Currently, the number of enterprises has grown strongly not only in quantity, but also in quality. Major domestic and foreign economic groups have come to invest in Yen Bai such as: Hoa Phat Group, Ton Hoa Sen Group, Daesung Korea Co., Ltd., Vietnam RK Marble Co., Ltd of Indian RK Marble Group. ...

Yen Bai affirmed the perseverance and high determination in attracting investment to serve the goal of rapid and sustainable growth associated with ensuring social security.

Therefore, branches and levels always show clearly the responsibility and sense of service; take appropriate and timely measures to mobilize and promote resources for development. Not only strongly reforming the investment environment, Yen Bai also invests in developing strong infrastructure, especially transport infrastructure that has met the development requirements. Yen Bai also builds 4 industrial parks and 13 industrial clusters with a total area of ​​over 1,500 ha, best serving investors ...

Yen Bai is a province located in the northern midland and mountainous areas; is the gateway of the Northwest region; is a gateway to connect traffic, cooperation, cultural exchanges, especially socio-economic development in the economic corridor of Kunming - Lao Cai - Hanoi - Hai Phong. Yen Bai is also an important focal point of roads, railways and waterways from Hanoi to Lao Cai.

In particular, the Noi Bai - Lao Cai Expressway passing through the province has shortened the travel time to facilitate the exchange and attract investment in socio-economic development of the province with the neighboring provinces.

Along with that, with the advantage of a mountainous province with very large land, rich in natural resources and minerals; there are more than 586,000 ha of agricultural and forestry land in different sub-regions that have created diversified agricultural products, which have formed concentrated commodity areas: cinnamon areas over 70,000 ha, Bat Do bamboo area is over 4,000 ha, tea area is 8,000 ha, fruit tree area is nearly 7,800 ha, aquaculture area is over 22,300 ha ... which are potentials and advantages of the province to attract domestic and foreign enterprises come to invest in Yen Bai.