Over 5,600 new businesses registered in H1

Over 5,600 new businesses registered in H1

The increase in the number of registered companies signals that entrepreneurs are seizing new opportunities in Cambodia.

The Ministry of Commerce registered 5,649 new companies and enterprises during the first half of this year, up 5.6 percent from 5,349 companies registered in the same period last year.

The ministry, in a monthly report issued yesterday, said that 3,073 companies were registered as capital companies, 42 others as foreign trade companies, and 2,534 as sole proprietorship companies.

According to the report, 49 companies registered for their licenses via the electronic platform.

Minister of Commerce Cham Nimul has recently stated that the ministry is committed to improving the quality of its public services through promoting automation, reducing both cost and time, maintaining price stability, and boosting domestic trade, market development and private sector development.

“The ministry has been working on a range of reforms in updating the business registration automation system by developing electronic business licensing,” she said.

She attributed the growth to a combination of government reforms and a favourable business climate.

The Cambodia Chamber of Commerce (CCC) echoed this optimism, noting that the increased registrations reflect the resilience and dynamism of the private sector.

The increase in business registration reflects the reopening of the country, all kinds of socio-economic activities under the effective government’s policies, said Vice President of the Cambodian Chamber of Commerce Lim Heng.

Speaking to Khmer Times, Heng said, “The increase in the number of registered companies signals that entrepreneurs are seizing new opportunities within Cambodia, and this reflects investors’ confidence in doing business in the Kingdom.”

The CCC has been actively working to support our members through various business forums and missions, and we are seeing the results of those efforts, he added.

Ongoing collaboration between the government and the private sector, coupled with a focus on digital transformation and investment promotion, will sustain Cambodia’s economic growth trajectory, he said.

The Commerce Ministry aims to streamline procedures, eliminate informal costs, and increase transparency, ultimately building public confidence. Initiatives such as the automated system for issuing public services related to trade and investment.

These digital platforms are designed to reduce the time and cost associated with business registration and other essential services.

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