Cambodia speeds up business registrations with new system

Cambodia has launched a new online business registration system to reduce the time taken to start a company from three months to just eight days.

Under the new online service, procedures handled by the Finance, Commerce, Interior and Labour ministries, the Tax department and the Council for the Development of Cambodia, will be rolled into one online process, the Nikkei Asian Review reported.

Speaking at the official launch of the system, Cambodia’s Economy and Finance Minister Aun Pornmonirath said the previous system was “costly and complicated” and that the new service would cut the cost of starting a business by 50 per cent.

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