Thailand
Cambodia: New business registration up 39.4 percent last year
A total of 10,701 new businesses were registered with the Ministry of Commerce, up 39.4 per cent from 7,677 in 2021. The ministry dissolved 888 businesses last year, marking a 38 per cent increase from 643 in 2021.
The ministry also made 6,275 business registration electronically last year.
At the opening of the ministry’s annual review meeting yesterday, Minister Pan Sorasak said the ministry is committed to diversifying the economy and negotiating bilateral and multilateral free trade zones with trading partners to draw in new investment.
The ministry will work towards strengthening the Kingdom’s intellectual property and consumer protection regimes, promoting public services and further facilitating conditions for doing business, he said.
As for the provision of public services to the private sector, the ministry has continuously improved by fully deploying advanced information technology systems to compete regionally and globally, he said.
“The ministry has been striving to fortify the capacity and efficiency of officials to compete in the regional and global arenas by propping up human resources, structural reforms in governance and management, institutional development, and the development of laws and legal regulations related to trade,” he said.
The increase in new business registration came amid the Kingdom resuming all kinds of socio-economic activities, thanks to the government’s effective Covid-19 management.
The government has created a single platform – Online Business Registration System – to provide options to investors and start-up owners to register for licenses during the Covid-19 pandemic.
Lim Heng, vice president of the Cambodia Chamber of Commerce, lauded the government’s reforms in facilitating business and investment, especially business registration.
“The increase in business registration is a good sign for the economy. With a number of trade preferences, many businesses and companies have paid attention to investing in Cambodia,” Heng told Khmer Times yesterday.