Companies flock to Single Portal registration platform
Companies flock to Single Portal registration platform
The number of companies initiating the registration process on the government’s newly-launched e-Business Registration Platform has ballooned to 5,227, taking full advantage of the reduced red tape and shorter timeframe.
Six ministries and state-run institutions have been integrated into a business registration system on the platform, also known as the Single Portal, which was launched on June 15 by government representatives.
The six ministries and state institutions listed in the system are the ministries of Interior; Economy and Finance; Commerce; and Labour and Vocational Training, as well as the General Department of Taxation and the Council for the Development of Cambodia.
Another six are planned to be incorporated.
As of October 28, 1,892 companies had successfully registered on the Single Portal, its data show. That figure was just 287 on July 29.
As of that same day, 523 companies were under final review, while 2,638 others have cleared a preliminary review and are “registered for reservation”, awaiting the final review. Another 174 are under preliminary review.
Finance ministry spokesman Meas Soksensan previously said the Single Portal would require companies to complete a one-time business registration form, taking a maximum of eight days.
He noted that all data submitted by the companies under the Single Portal will be automatically forwarded to all ministries and state-run institutions incorporated into the system.
Finance ministry secretary of state Phan Phalla has said that, under the scheme, the commerce ministry cut registration fees by 40 per cent and patent tax for the year of registration by 50 per cent, while waiving registration tax on new registration documents.
“Businesspeople are no longer required to take a photo and scan their fingerprints immediately after listing,” he said.
