Ben Tre intensifies investment promotion activities

The Ben Tre's People's Committee has put into effect the Decision No. 1229 detailing its investment preferential policies. In particular, the new Decision has made preferential policies for both domestic and foreign investors into one in line with regulations at the Investment Law and the Corporate Law issued in 2005.

The Decision has helped set up fundamental work for Ben Tre's relatively clear regulations. Most incentives offered was streamlined with the Central Government's regulations, in particular, those regulations on corporate income tax and real estates related issues.

For the moment, Ben Tre is applying the highest incentive policy frame abiding by the State laws to encourage investment into the province. For example, the land lease cost for investment encouraging projects would be applied between 0.25% and 0.50%, and investors would also be supported with labour training cost if they employ local workforce.

Also stated in the Decision is Ben Tre's pledge to push strongly forward its bureaucratic formalities reform, focusing on the "one door" mechanism; to increase its transparency; to intensify various forms of supports for investors, enterprises, regarding this as a crucial step in the whole process of investment attraction.

In order to attract more investment projects, the Ben Tre's Investment Promotiuon Centre (IPC Ben Tre) is planning in collaboration with the Industrial Parks Authority (IPA), the Infrastructural Development Company, and related organizations to foster investment promotion activities in the country as well as abroad.

In August, 2006, for example, the province designated a trade delegation to visit Thailand to meet and invite Thai companies to come to Ben Tre to study investment opportunities. Some of the projects of garment, agricultural processing and services were most interested by Thai companies (and several of them have now been awaiting for investment licences).

Late in the third quarter last year, the province was reported to invite business circles in the South Korean industrial province Kyung-buk to visit Ben Tre for discussions on investment and cooperation opportunities. Agricultural and aquacultural processing, foodstuff manufacture, and trading services are the current favourites of Korean investors. The IPC Ben Tre is also planning to hold open meetings and talks with businesses in Ho Chi Minh City, Binh Duong and Dong Nai provinces, etc in order to study the demand on factory expansion of FDI companies based in these provinces.