The Online Business Registration System known as Single Portal registered around 40,000 businesses worth $14 billion by October this year, a report showed yesterday.
Other sectors include management consultant activities, manufacturing, financial and insurance activities, the report said.
The figure was disclosed at a meeting of the top officials from the Ministry of Commerce, the General Department of Taxation under the Ministry of Economy and Finance, the Ministry of Labour and Vocational Training, and the Ministry of Industry, Technology, Science, and Innovation.
The Single Portal proved to be an achievement for the government as it responded to the private sector demand for improving the business environment in Cambodia, the Ministry of Economy and Finance said in the report.
“This work shows the government’s active participation in promoting the modernisation of public services, enhancing the business environment in Cambodia and increasing Cambodia’s competitiveness on the international stage,” it said.
MEF launched the first phase of the Online Business Registration platform on June 15, 2020, and the second phase on September 15, 2021.
The third phase, integrating the issuance of licences, certificates, professional documents and others from 12 ministries and institutions, was launched last month.
The establishment of the Online Business Registration System has so far contributed to reducing procedures and saving time and cost in business registration and proved to be a convenience for setting up private sector businesses in Cambodia.
According to MEF, the system cuts down complex procedures and repetition of information and saves time and cost.
All registrations are automatically shared with relevant ministries and institutions for review and approval, ensuring that all departments are kept in the loop.
Lim Heng, Vice President of the Cambodia Chamber of Commerce, said that the single portal has contributed to easing business-opening processes.
“Registering businesses online saves time and money and reduces travel time and cost as well,” Heng told Khmer Times.
As many as 33 public services provided by 21 ministries and institutions are available on the single portal system.
