PHNOM PENH: The registration of information technology businesses or online business registration (OBR) has increased significantly. The largest industries are real estate and the automotive sector. This is according to a recent press release from the Ministry of Economy and Finance.

Mr. Taing Nguon Ly, Executive Director of the Start-up Training Center “Techo,” stated that the Royal Government of Cambodia has set the framework for Cambodia’s digital economy and society from 2021-2035, intending to revolutionize digital before the year 2035. He stated that Cambodia needed a foundation for this revolution to capitalize on the digital economy.

The digital revolution focused on two goals: data and digital nurseries. Previously, the Coordinating Institutions’ Digital Economy and Business Commission established several foundations to assist the public sector, and the private sector becomes more integrated and innovative for the benefit of the people, as well as in government.

He stated that for the trend of online business registration, approximately 700 to 800 companies were registered each month, maintaining a stable growth, which is a more significant contribution and provides convenience for investors, particularly overseas investors.

According to the latest reports, by June 2022, Cambodia received 14,676 companies registered through the online business registration (OBR) system via the approved information technology, with a total capital of nearly 20 trillion riels, or more than $4.670 million.