Nearly 4,000 businesses registered with the Ministry of Commerce in 2014, a 29 percent gain over the year before, figures provided Monday by the ministry show.
According to the ministry, 3,850 businesses registered last year, up from 2,986 in 2013. Trademarks registered with the ministry rose from 5,866 in 2013 to 6,075 last year—4,829 of which were foreign.
Ministry spokesman Ken Ratha said Monday the uptick in new businesses was due to investors’ perception of Cambodia as a stable place to do business.
“Mostly, investors think that the politics in Cambodia is more stable, the investment and business environment is more open, and the country’s gross domestic product has a strong position,” he said.
However, Cambodia continues to be one of the most difficult countries in the world to do business, according to the World Bank’s “Doing Business 2015” report, released in October. In the report, Cambodia is ranked 184 out of 189 countries in the category of starting a business.