New business registrations in Cambodia rise 55%

Reading Time: 1 minute

CambodiaSMECambodia’s Ministry of Commerce said Friday that it has granted operating licenses to 1,676 new firms in the first five months of 2014, up 55 per cent as compared with the 1,084 companies for the same period last year.

Foreign businesses accounted for 749, up 46 per cent, while local firm registrations saw a 62 per cent rise to 927.

Ken Ratha, the spokesman for the Ministry of Commerce, said most foreign companies are run by Chinese, South Koreans, Japanese and Vietnamese, adding they are doing businesses mainly in garment, footwear, agriculture, agro industry, tourism, construction and real estate.

“The increase in new businesses clearly shows the country’s good security and political stability in combination with favorable business environment for investors,” he said. ” The growth also demonstrates investors’ confidence in Cambodia’s situation even though a political dispute over election results in July last year remains unsolved.”

Last year, the country provided operating licenses to nearly 3, 000 new companies, a 12 per cent decrease on year due to continued political dispute between Prime Minister Hun Sen’s ruling party and Sam Rainsy’s opposition party following the July election.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 1 minute

Cambodia’s Ministry of Commerce said Friday that it has granted operating licenses to 1,676 new firms in the first five months of 2014, up 55 per cent as compared with the 1,084 companies for the same period last year.

Reading Time: 1 minute

CambodiaSMECambodia’s Ministry of Commerce said Friday that it has granted operating licenses to 1,676 new firms in the first five months of 2014, up 55 per cent as compared with the 1,084 companies for the same period last year.

Foreign businesses accounted for 749, up 46 per cent, while local firm registrations saw a 62 per cent rise to 927.

Ken Ratha, the spokesman for the Ministry of Commerce, said most foreign companies are run by Chinese, South Koreans, Japanese and Vietnamese, adding they are doing businesses mainly in garment, footwear, agriculture, agro industry, tourism, construction and real estate.

“The increase in new businesses clearly shows the country’s good security and political stability in combination with favorable business environment for investors,” he said. ” The growth also demonstrates investors’ confidence in Cambodia’s situation even though a political dispute over election results in July last year remains unsolved.”

Last year, the country provided operating licenses to nearly 3, 000 new companies, a 12 per cent decrease on year due to continued political dispute between Prime Minister Hun Sen’s ruling party and Sam Rainsy’s opposition party following the July election.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid