The govt's efforts to streamline business registration processes and improve the country’s investment climate have paid off. The Online Business Registration platform, a single portal for registering new businesses, has received a total of 24,466 applications as of April this year, with a combined investment value of US$7.42 billion.
The construction sector accounted for the largest share of investment value, with a total of US$1.05 billion or 15% of the total registered investment value. Meanwhile, real estate-related businesses registered on the platform amounted to US$893 million or 12% of the total investment value.
“The Online Business Registration platform is part of the reforms of the Royal Government of Cambodia to enhance competitiveness and improve the business and investment environment in Cambodia,” said a report from the Ministry of Economy and Finance.
The single portal aims to simplify the process of business registration, allowing investors to register their businesses with various ministries and agencies in a single application, reducing processing time and increasing efficiency. The platform is one of several measures implemented by the government to promote economic growth and attract foreign investment to Cambodia.
Source: Construction & Property News
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