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VIETNAM: Binh Duong Moves to Streamline Business Incorporation Procedures

The processing time for securing an Enterprise Registration Certificate (ERC) has been cut from four days to just two in Binh Duong, a province some 40 kilometres to the north of Ho Chi Minh City (HCMC). In addition, the 15-day processing time required for 100% foreign-owned enterprises to obtain an Investment Registration Certificate (IRC) in the province is to be cut by 50%.

The improved turnaround comes as part of a bid to streamline the overall process for incorporating businesses in the province, which has included a review of the relevant tax, labour law and social insurance procedures. Already home to more than 3,000 FDI-backed businesses, Binh Duong is second only to HCMC within Vietnam in terms of securing inbound foreign investment.

Content provided by Picture: HKTDC Research
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