Yên Bái approves Vingroup’s projects worth nearly $130m

The Vincom Shophouse Yên Bái, invested by property giant Vingroup in Yên Bái Province. Photo familand.vn

YÊN BÁI — The northern mountainous province of Yên Bái granted in-principle approval for 15 investment projects worth a total VNĐ3 trillion (nearly US$130 million) during a meeting with investors here on Sunday.

Addressing the event, provincial People’s Committee chairwoman Phạm Thị Thanh Trà praised the business community for its contribution to the province’s socio-economic development.

Yên Bái is home to more than 2,140 enterprises, creating 38,000 local jobs. Last year, the firms contributed VNĐ1.17 trillion ($50.3 million) to the local budget, accounting for 54 per cent of the province’s revenue.

This year, the province will continue to accelerate administrative reforms and promptly remove difficulties arising in the process of forming projects amid the outbreak of COVID-19, Trà said.

During the meeting, representatives from enterprises operating in the locality requested local authorities to improve the province’s legal framework, reform administrative procedure and draw up incentive policies for firms specialising in agriculture while offering them support in personnel training and trade promotion.

In recent years, Yên Bái has attracted investment and developed businesses by focusing on improving the investment environment, seeking investors and improving administrative procedures in investment, according to the provincial Department of Planning and Investment.

Last year, the province granted investment certificates to 55 projects, worth more than VNĐ17.22 trillion. The latest addition brought the number of licensed projects up to 466, valued at VNĐ88 trillion.

Source: VNS