Starting a business in Cambodia got more expensive in the last year according to the World Bank’s “Doing Business 2020” rankings, where the country ranked 144 out of 190 countries for the ease of doing business.
The annual rankings were released by the development bank on Thursday and was centered around the slowing of economic reforms in the East Asia and Pacific region. Cambodia which ranked 138 in last year’s rankings, fell to 144 this year amid increasing concerns over the economic prospects of the country.
Two weeks ago, the World Bank projected Cambodia’s growth rate to fall to 7 percent this year, flagging concerns over the potential loss of tariff-free access to the European Union and rising debt in the real estate and construction sectors.
