Economy
The total area of the province is 689,900 hectares (6,899 km2), out of which the agricultural area is 78,600 hectares (786 km2), forest land forms major part of 453,600 hectares (4,536 km2), homestead land accounts for 4,000 hectares (40 km2) and land used for special purposes is 30,200 hectares (302 km2). The per capita production of cereals in 2008 was 289 kg.
Yen Bai is home to 281 cooperatives, which are considered an effective way of generating employment to thousands of workers. These cooperatives are engaged in fields such as agricultural services, industrial services, construction, commerce, transportation, People's Credit Funds and health care. Cooperatives services include the production of black tea (manufacturing and processing), farm and forestry, fertilizers, transportation, electric supply in rural areas, and so forth.
A survey of the economic situation in Yen Bai carried out in 2006 indicated that living standards had increased substantially. For the period 1990 to 2004, Gross domestic product (GDP) tripled with an average increase of 7.5% per year. Poverty index decreased from 58% in 1993 to 16% in 2006 (as per General Statistics Office, 2006). However, underemployment, unstable income, inadequate childcare, limited access to health, child labour, social issues related to old people and social evils, gender inequality needed to addressed.
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Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
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—Ralph Waldo Emerson (1803–1882)
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—Henry David Thoreau (1817–1862)