Online registration soars; capital surpasses $9B
Online registration soars; capital surpasses $9B
The number of companies that have successfully listed their ventures on the Online Business Registration System (OBRS) via IT Platform Phase I has risen to more than 317,000, with a total capital exceeding $9 billion. This marks a significant increase from nearly $6 billion at the beginning of 2023, as reported by OBRS.
The government initiated the system on June 15, 2020. It incorporated six ministries and state-run institutions – the Finance, Interior, Commerce and Labour ministries, along with the General Department of Taxation (GDT) and the Council for the Development of Cambodia (CDC).
Phase II was launched on September 15, 2021, integrating four additional agencies – the Non-Bank Financial Services Authority’s (NBFSA) Real Estate Business and Pawnshop Regulator and the ministries of Industry, Tourism and Telecommunications.
Phase III was introduced on June 22, 2023, including additional institutions.
By January 2 this year, there were 20,693 companies registered with a capital of $5.81 billion, as per the OBRS social media page
As of December 3, the number of companies successfully listed through the Single Portal platform stood at 31,703, with a total registered share capital of $9.36 billion. This includes 38% female-owned businesses.
Analysing share capital by business activity, “building construction” represents the largest portion with $1.11 billion, or 11.86%. This is followed by “real estate activities involving one’s own, or leased properties” ($1 billion, 10.72%), “accommodation services” ($998 million, 10.66%), “management consulting” ($581 million, 6.21%), and “manufacture of wearing apparel, except fur” ($485 million, 5.18%).
The “others” category comprises $5.18 billion, representing 55.37%, according to OBRS.
The service also notes that in addition to the aforementioned companies, there are 17,405 additional businesses that have successfully applied for enrollment, of which three have been rejected.
Chhin Ken, president of the Cambodia Digital Tech Association (CDTA), told The Post on December 5 that the number of companies filing has consistently risen since the launch of the platform.
He attributes this to factors such as stricter law enforcement by the GDT, simplified procedures, the elimination of informal expenses and the ability to enroll remotely.
“Law enforcement by the GDT and the ease of filing have motivated more business owners to register, while the use of technology in Cambodian society is also showing better progress,” he stated.
Te Taingpor, president of the Federation of Associations for Small and Medium Enterprises of Cambodia (FASMEC), previously mentioned that complete business registration will enhance transparency, as similar businesses will be subject to the same laws and tax obligations.
He believes accountable business practices can also attract more foreign investors to the Kingdom.
He added that having clear data facilitates government strategies and support measures, particularly during business challenges.
“Once all businesses are registered, it will positively impact both the government and the private sector,” he said.
