PHNOM PENH: A total of 35,829 businesses with US$10.22 billion capital have been registered via Online Business Registration platform, known as the Single Portal-Phase 1 as of May 5, an official report showed.

The Single Portal has reserved 19,094 company names, read the report, adding that two company applications have been rejected.

Construction sector tops the list, accounting for 10.8 percent of the total investment, followed by real estate 10.14 percent, accommodation service 9.5 percent, consulting service 5.72 percent, manufacturing 5.49 percent, and mixed sector 58.26 percent, the source stated.

Registration businesses managed by women represented 38 percent of the 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 of Economy and Finance said.

The increase in business registration reflects the reopening of the country, the resumption of all kinds of socio-economic activities under the effective government's policies, said Mr. Lim Heng, Vice President of the Cambodian Chamber of Commerce.

“Registration via online platform contributes to facilitating the process of business registration and to build investors' confidence in doing business in Cambodia,” he underlined.

Launched on June 15, 2020, the Single Portal-Phase 1 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.

The phase 2 was officially launched on Sept. 1, 2021 and the phase 3 in June 2023.