PHNOM PENH: A total of 33,986 businesses with investment capital worth US$10.22 billion have been registered with the Online Business Registration platform, known as the Single Portal, phase I as of Feb. 25, a report by the Ministry of Economy and Finance showed.
The port has reserved 18,382 numbers of company names, read the report, adding that two company applications have been rejected.
Construction was on top by providing 11.3 percent of the total investment, followed by real estate with 10.35 percent, accommodation service with 9.88 percent, consultant service with 5.87 percent, and manufacturing with 5.31 percent each and mixed sector with 57.29 percent, the source stated.
Registered businesses managed by women accounted for 38 percent of total businesses, it pointed out.
The establishment of the Online Business Registration System has so far contributed to reducing procedures, time, and cost in business registration and provided convenience in setting up private sector’s legal businesses in Cambodia, the ministry said.
Launched on June 15, 2020, the single-portal phase I integrates business registration with the Ministry of Commerce, tax registration with the General Department of Taxation, and the issuance of enterprise openings at the Ministry of Labour and Vocational Training.
Phase II was officially launched on Sept. 1, 2021, and Phase III in June 2023.