Over 31,000 businesses, boasting a combined capital exceeding $8.9 billion, have successfully completed their registration through the Online Business Registration System (OBRS) via its IT Platform phase 1.
The initial phase of theportal, launched by government representatives on June 15, 2020, saw the integration of six ministries and state-run institutions. These comprised the Finance, Interior, Commerce and Labour Ministries, along with the General Department of Taxation (GDT) and the Council for the Development of Cambodia (CDC).
The government rolled out phase II of the platform on September 15, 2021 and Phase III on June 22, 2023, incorporating additional ministries and institutions.
OBRS’s official social network reports that, as of midnight on November 5, the platform had successfully registered 31,027 companies with a total share capital amounting to $8.91 billion.
This indicates a rise from the beginning of the year when 20,693 companies with a total capital of over $5.81 billion had been listed with the service, marking an increase of 17,164 companies. So far, only two applications have been rejected, as per OBRS.
The current registered share capital is categorised by business activity, with building construction claiming the majority at $1.1 billion, or 12.35%.
This is followed by hotels and restaurants at $948 million (10.65%), real estate at $944 million (10.6%), accommodation services at $897 million, management consulting at $488 million (5.48%) and the manufacturing of wearing apparel (excluding fur) at $469 million (5.26%).
For full article, please read here
Author: Hin Pisei
Publication date: 07 November 2023
Source: The Phnom Penh Post