More than 33,000 Businesses Register with $10.22 Billion in Investment Through Cambodia's Single Portal

Phnom Penh: A noteworthy turning point in the history of business registration in Cambodia has been announced by the Ministry of Economy and Finance. 33,986 enterprises have been successfully registered through the Single Portal Phase I online business registration platform as of February 25, raising $10.22 billion in venture capital.

18,382 company names have also been reserved thanks to this creative portal. It was seen, nevertheless, that two business applications were turned down because they did not fit the requirements. Construction accounted for 11.3 percent of total investment during this era. Real estate (10.35 percent), accommodation services (9.88 percent), consultancy services (5.87 percent), and manufacturing (5.31 percent) were the next highest-performing industries.With 57.29 percent of the overall investment, the mixed sector holds the lion's share.

An encouraging number from the survey shows that 38 percent of registered enterprises are run by women, indicating a notable advancement in gender equality in the economic sector.

The creation of the Single Portal has significantly expedited the business registration process, cutting down on the amount of time, paperwork, and money needed to launch a legitimate private company in Cambodia. Launched on June 15, 2020, this platform incorporates a number of crucial services, such as tax registration with the General Department of Taxation, business registration with the Ministry of Commerce, and the Ministry of Labour and Vocational Training's issue of enterprise opportunities.

On September 1, 2021, Phase II was officially launched, building on the success of Phase I. Phase III, which debuted in June 2023, substantially enlarged the platform. With more investors drawn to Cambodia as a result of these advancements, the nation is demonstrating its dedication to creating a more effective, open, and accessible economic climate.