Southern Ben Tre Province has targeted to open 500 new firms each year, bringing the total number of enterprises to 5,000 by 2020.

The number of newly-established companies in the province has increased this year, thanks to the launch of a startup programme.

In the first nine months of the year, the province had 400 newly-established businesses, posting an increase of 55 per cent year-on-year. Registered capital in the January-September period rose 2.3 times in comparison with the same period last year. Average registered capital for each business was VND6.42 billion (US$283,000), which was higher than the VND5.3 billion in the corresponding period last year.

The number of small and micro firms has gradually reduced in the province.

Le Xuan Vinh, director of Ben Tre’s centre for promotion and startups, said the province has 2,952 operating businesses. This number was modest in comparison with other localities in the Cuu Long (Mekong) Delta region.

Ben Tre has promulgated legal documents, policies and mechanism to facilitate businesses’ development, attracting investors. It has implemented a startup programme – a key solution to improve its business environment.

The provincial People’s Committee has asked the centre to support firms in completing administrative procedures for startups. The province has established a team to provide support for free to firms in administrative procedures relating to investment and relevant sectors.

Startups and household businesses will be granted a business registration licence in one day. The province will also give VND3.5 million to each startup and household business to be used for fees of establishment and developing the brand name.

In addition, it has promulgated a regulation to shorten time to resolve administrative procedures in investment for projects that are not funded by the State budget.

Nguyen Huu Lap, vice chairman of the provincial People’s Committee, said the province adjusted the target to develop 500 new firms per year instead of 300 in the next five years.

“Ben Tre has focused on developing its economy, building infrastructure and appealing for investment for its higher growth,” Lap said. — VNS