Establish a company in Ben Tre for foreign investment

In 2023, Ben Tre province strives for the economic growth rate (GRDP) to increase from 9.3%; GRDP per capita is 53.9 million VND/person; the export turnover is estimated at 1,700 million USD; the total social investment capital of 28,000 billion VND; the urbanization rate is about 24%; the rate of poor households reduced to no more than 2.5%; the rate of daily-life solid waste collection in urban areas is 94.5%, in rural areas 79%; the percentage of households using the clean water reached 82.7%… Accordingly, with its strong position, Ben Tre has been the investment chosen location of many domestic and foreign investors.

Infrastructure of industrial parks in Ben Tre to support investors

The total number of industrial parks according to the master plan approved by the Government is 08 industrial parks with a total area of ​​1,369 ha. 02 industrial parks with a total area of ​​236.34 ha (Giao Long Industrial Park Phase I & II and An Hiep Industrial Park) have been built and put into stable operation. Phu Thuan Industrial Park is implementing site clearance work. The remaining industrial parks according to the master plan have been approved for detailed planning of 1/2000 scale to serve the invitation for investment.

Policies of investment encouragement and incentives to Establish a company in Ben Tre for foreign investment

According to the Department of Planning and Investment of Ben Tre province, Ben Tre province implements an investment incentive mechanism for each project, according to investment fields and locations. Specifically:

• In order to continue to attract investment into the province, Ben Tre has been timely implementing preferential mechanisms and policies of the Central and the province such as: promulgating a number of preferential policies and regulations on the investment incentive inside and outside industrial parks, infrastructure in industrial zones and clusters; shorten the time for handling administrative procedures from 30% to 50% compared with the prescribed time; established a public service team operating under the one-stop mechanism at the Center for Investment Promotion and Startups, to support investors and enterprises. The province also supports enterprises through investment promotion programs, market connections, and product introduction at domestic and international fairs…
• For the infrastructure investment in industrial zones and clusters, investors are entitled to incentives in terms of land rent exemption and reduction, preferential tax rates according to localities; Support for site clearance compensation costs up to 20% when investing in the industrial cluster infrastructure and up to 30% when investing in the industrial park infrastructure.
• For investment projects in 3 coastal districts of Ba Tri, Binh Dai, and Thanh Phu, investors are entitled to a policy of exemption from land rent for 11 years after the completion of the basic construction period; enjoy the highest preferential corporate income tax rate, which is 10% for the first 15 years, exemption for 4 years and 50% reduction of payable tax for the next 9 years. For projects in the field of socialization, in addition to the central policy, investors are entitled to separate preferential mechanisms and policies for each specific area…
• Ben Tre province is also giving priority to inviting domestic and foreign enterprises and investors to invest in main fields such as construction and infrastructure business in industrial zones and clusters; wind and solar power projects; processing products with high added value from coconuts, fruits and aquatic products; develop supporting industries, high-tech industries; to build markets, commercial centers, urban areas, and residential areas. In addition, investment in agriculture and rural areas is associated with the value chain of 8 main agricultural products of the province; investment in building a specialized hospital; developing ecotourism in combination with cultural tourism and resort tourism; investing in preschools and kindergartens; training high-quality laborers with high skills to supply domestic and foreign labor markets.

Procedures for establishing a company in Ben Tre for foreign investment

Step 01: Apply for an Investment Registration Certificate for a foreign-invested company

If projects do not use land (without direct land lease from the state) that do not use technologies on the list of restricted transfers, the procedures for approval of investment policies are not required. Foreign investors carry out the procedures for applying for an Investment Registration Certificate.

Dossier for issuance of Investment Registration Certificate to a foreign-invested company:

• A written request for implementation of an investment project;
• Documents on investor’s legal status;
• For individual investors: copy of identity card, citizen ID card, or passport;
• For organization investors: copy of the Establishment Certificate or other equivalent document certifying legal status;
• The investment project proposal includes the following contents: investor implementing the project, investment objectives, investment scale, investment capital and capital mobilization plan, location, duration, and investment schedule, demand for labor, a proposal for investment incentives, assessment of the project’s socio-economic impact and efficiency;
• Copy of one of the following documents:
• The investor’s financial statements for the last 2 years;
• Commitment to support the finances of the parent company;
• Commitment to support financial of financial organizations;
• Guarantee on the financial capacity of the investor;
• Documents explaining the financial capacity of the investor;
• Proposing land use needs; In case the project does not request the State to allocate or lease land or permit the change of the land use purpose, a copy of the location lease agreement or other document confirming that the investor has the right to use the location for implementation the investment project;
• The explanation of the use of technology includes the following contents: technology’s name, technology’s origin, technological process diagram; Main technical parameters, usage status of main machinery, equipment, and technological lines for projects using technologies on the List of technologies restricted from transferring;
• BCC contract for investment projects in the form of the BCC contract.

Step 02: Establish an enterprise and issue an Enterprise Registration Certificate

After obtaining an Investment Registration Certificate, investors need to prepare the dossier to set up an enterprise.

Dossier of establishment of a foreign-invested company

• A document request for registration of an enterprise;
• Company’s charter;
• List of members/shareholders;
• Copy of the following papers: Citizen ID cards, identity cards, Passports or other lawful personal identification of members being individuals;
• The establishment decision, Enterprise Registration Certificate or other equivalent documents of the organization and written authorization; Citizen ID card, identity card, passport, or other lawful personal identification of the authorized representative of the member being an organization;
• For a member being a foreign organization, a copy of the Enterprise Registration Certificate or equivalent documents must be consular legalized;
• Investment Registration Certificate for foreign investors in accordance with the Law on Investment.

The agency that submits the dossier for an enterprise registration certificate to companies with 100% foreign capital: Business Registration Agency – Provincial Department of Planning and Investment.

Duration to issue the Enterprise Registration Certificate for companies with 100% foreign capital: 05 working days from the date of receiving the complete and valid dossier.

Step 03: Posting the statement of establishment of a foreign-invested company

After an enterprise is granted an Enterprise Registration Certificate, it must make a public announcement on the National Portal of Business Registration according to the order and procedures and pay fees as prescribed.

The content to be announced includes the contents of the Enterprise Registration Certificate and the following information:

• Business lines;
• List of founding shareholders and shareholders being foreign investors for joint-stock companies.

Executing agency: Reporting division of the Business Registration Authority – Provincial Department of Planning and Investment.

Step 04: Engrave the seal of the foreign-invested company

After obtaining the Enterprise Registration Certificate and having posted the enterprise establishment statement. The enterprise engraves the seal at one of the licensed seal engraving units. Enterprises decide by themselves the number and form of seals within the scope permitted by law.

Step 05: Apply for a Business Eligibility License for the waste collection and treatment service (if any).

Customers wishing to establish a company in Ben Tre for foreign investment, or provide legal consultation during the implementation of an investment project in Vietnam, please contact Viet An Law Firm for the best support!