Single Portal registers biz worth over $18 billion

Single Portal registers biz worth over $18 billion

Interestingly, over 17,240 businesses of the total were owned by women, said the report, adding, 23,786 other business names are reserved.

The Online Business Registration Service (OBR), known as Single Portal, has registered 46,776 businesses worth $18.23 billion by May this year, since the service was first carried out in May 2020, a report from the Ministry of Economy and Finance showed on Sunday.

The ministry disclosed the figures in a report to mark the fifth anniversary of the single portal establishment from May 2020 to May 2025.

Sectors of the business registration included management consultant activities, manufacturing, financial and insurance activities, the report said.

Over 17,240 businesses of the total were owned by women, said the report, adding, 23,786 other business names are reserved.

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, it added.

The establishment of the Online Business Registration System has so far contributed to reducing procedures and saving time and cost in business registration and has proved to be a convenience for setting up private sector businesses in Cambodia.

The Online Business Registration Service has benefited from the E-service for business in Cambodia, the ministry said.

“In the last five years, the OBR has coordinated procedures of business registration of business owners, including promoting business environment and digital economy in Cambodia,” the report read.

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.

“These achievements reflect the government’s efforts and participation from ministries and institutions as well as from the private sector,” the ministry stated.

The single portal has contributed to easing business-opening processes, said Lim Heng, Vice President of the Cambodia Chamber of Commerce.

Speaking with Khmer Times, Heng said, “Registering businesses online saves time and money and reduces travel time and cost as well.”

As many as 33 public services provided by 21 ministries and institutions are available on the single portal system, according to the report.

Prime Minister Hun Manet has advised all ministries, institutions under the guidance and coordination of the Digital Economy and Business Committee to continue to strive to bring other important services online to meet the daily needs of businesses.

The premier tasked ministries and institutions to work together to develop a common framework named the ‘Digital Ecosystem for Business’ as a foundation for expanding other reform sites to improve the business environment in the country and promote Cambodia’s attractiveness for investment.

khmertimeskh