The aim of this study was to isolate and select salt tolerant bacteria having both functions in phosphorus solubilization and phosphatase synthesis from rice-shrimp farming soil in saline areas in Mekong River Delta of Vietnam. Phosphorus solubilizing bacteria were isolated on National Botanical Research Institute’s Phosphate (NBRIP) agar medium containing 1% NaCl and the activity of phosphatase enzyme was determined by disodium p-nitrophenyl phosphate reagent method at a wavelength of 420 nm. The result showed that from 15 saline soil samples, a total of 95 strains of phosphorus solubilizing bacteria were isolated and 19 of them showed their good phosphorus solubilization. The results about phosphatase activities of these 19 strains illustrated that TBT5-3 bacterial strain was the highest phosphatase producing strain with an amount of 0.377 U/mL after 10 days of incubation. This strain showed its best phosphatase producing capacity when cultured in the liquid culture medium containing pH 5, 1% NaCl, glucose and urea under the shaking speed of 120 rpm. Based on 16S rRNA gene sequence analysis this phosphatase synthesizing bacterial strain was genetically identified as species of Bacillus sp. TBT5-3 since 100% of this train sequence is affiliated with Bacillus megaterium.