The Ministry of Economy and Finance (MEF) yesterday launched the third phase of its Online Business Registration System, known as the Single Portal, integrating the service of issuing licenses, certificates, professional licenses, and other relevant documents from 12 ministries and institutions.

The third phase was launched, following the successful implementation of two phases, with the first phase launched in June 2020.

The third phase reflects the government’s efforts for the digital economy and society, said Aun Pornmoniroth, Minister of Economy and Finance.

The establishment of the Online Business Registration System has so far contributed to reducing procedures, time, and cost in business registration and provided convenience in setting up private sector’s legal businesses in Cambodia, Pornmoniroth said at the launching ceremony.

“The government always facilitates and adds new functions constantly in the Online Business Registration System. The businesspeople and investors can raise the issues and provide constructive advice,” he said.

The operation of the system depends on the Cambodia Data eXchange (CamDX), the backbone of data exchange between one online system and another.

The single-portal phase-1 integrates business registration with the Ministry of Commerce, tax registration with the General Department of Taxation, and the issuance of enterprise openings at the Ministry of Labor and Vocational Training.

The phase-2 was officially launched on September 1, 2021, focusing on the issuance of licenses, certificates and professional licenses from four ministries, namely the Ministry of Industry, Science, Technology and Innovation, the Ministry of Tourism and the Ministry of Posts and Telecommunications, and Real Estate and Pawnshop Business of Regulator of the Non-Banking Financial Services Authority.

The third phase involves the Ministry of Commerce, Ministry of Industry, Science, Technology and Innovation, Ministry of Agriculture, Forestry and Fisheries, Ministry of Justice, Ministry of Education, Youth and Sports, National Bank of Cambodia, National Social Security Fund, Cambodian Insurance Regulator, Telecommunications Regulator of Cambodia, Regulator Accounting and Auditing, General Department of Public Procurement and Techo Startup Center.

Lim Heng, vice president of the Cambodia Chamber of Commerce, said that the private sector, local and foreign investors and businesses wish to see reforms in business registration at one single portal to reduce cost and time.

“Launching the Online Business Registration System phase III is a better move because registering business via online reduces time and money, reducing travel and money on other miscellaneous expenses, particularly reducing in advance the bureaucracy. This is a forward step from the government in helping businesses in the country,” Heng told Khmer Times yesterday.

As of June 14, 2023, the first phase of the Online Business Registration System registered more than 260,000 companies with a total investment of over $7.7 billion.

The second phase of the information technology business registration system received applications from more than 600 companies, the ministry said.

• Tags: MEF, Online Business Registration System, Single Portal