New companies registered in Cambodia jump 36 pct in 9 months
PHNOM PENH, Nov. 4 (Xinhua) — Cambodia has issued operating licenses to 3,025 new companies in the first nine months of 2014, up 36 percent over the same period last year, the Ministry of Commerce said on Tuesday.
Foreign companies were 1,335, an increase of 20 percent, as local registrations saw a 46-percent rise to 1,690.
The foreign firms are mainly operated by China, South Korea, Japan, Vietnam, Malaysia and Singapore, who are doing businesses in garment, footwear, agriculture, agro-industry, tourism, construction, and real estate.
“The surge in new business registrations clearly reflects the country’s good security, political stability, and favorable business climate for business people,” Ken Ratha, a spokesman for the Ministry of Commerce, said.
Last year, Cambodia received 2,986 new companies, down 12 percent year-on-year due to a post-election crisis, which ended just three months ago.
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