The Ministry of Economy and Finance has presented a proposal for the creation of a platform that will centralise all services needed to register a company in Cambodia.
For in depth analysis of Cambodian Business, visit Capital Cambodia
The initiative is an attempt to facilitate business registration in the Kingdom, with Cambodia currently ranking 138 among 190 countries in the World Bank’s ease of doing business index.
The proposal for a one-stop business registration portal is now being discussed by the General Department of Taxation and different ministries, according to Kong Vibol, GDT’s director general.
With the proposed portal, companies will no longer have to send representatives to different ministries and agencies to complete the registration process, he said.
“The Ministry of Economy and Finance asked the General Department of Taxation and other relevant ministries and institutions to conduct a feasibility study for the one-stop business registration platform,” Mr Vibol said during a seminar yesterday in Sofitel Phnom Penh Phokeethra.
The nation’s tax chief said the platform will improve the country’s ranking in the ease of doing business index, in which Cambodia slipped three places last year.
“Now, we are conducting a study on the single registration platform. When finished, it will have to be approved by the Ministry of Economy and Finance,” Mr Vibol said, adding that no decision has been made as to which ministry will control the portal.
Um Sotha, spokesman at the Ministry of Handicraft and Industry, said the project has the support of his ministry.
“It will make life easier for businesspeople,” Mr Sotha said. “Our goal is to make registration as easy as possible and to encourage more businesses to formalise.”
Lim Heng, vice president of Cambodia Chamber of Commerce, told Khmer Times that the current business registration process is confusing and costly.
“Having just one platform for registration will save businesses a lot of money as they will no longer have to go around the city to visit the different ministries,” Mr Heng said.
- Tags: Ministry of Economy