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|The entrance of Viet Nam Singapore Industrial Park (VSIP) in Binh Duong Province.-Photo ndh.vn|
Specifically, the committee will process enterprises’ application for business certificates in a maximum of two working days. It will also reduce by half the time for granting investment registration certificate as well as link the tax, labour and insurance procedures.
According to Liem, to reduce the legal compliance costs for enterprises, the committee will review, cut and simplify administrative procedures; reduce some kind of charges and eliminate some unnecessary fees as well as publisise 100 per cent of the procedures related to business registration and investment and the planning of the province on the website.
In the first quarter of 2018, the province had 788 newly established businesses, with a total registered capital of more than VND7.91 trillion (US$347 million). Of this, 755 were domestic enterprises, with a total capital of nearly VND4.47 trillion, and 33 were foreign direct investment ones, with a total capital of over VND3.44 trillion.