The number of companies registered on the government’s online business registration platform, known as One Portal, had reached over 13,000 since its launch in mid-2020, while over 1,300 more have submitted their applications pending review.
According to the Ministry of Economy and Finance, as of April 11, companies that had successfully registered on the integrated system numbered 13,154, while another 1,305 are awaiting approval. The ministry said registering a business through this platform takes eight days.
Meanwhile, 9,511 companies have successfully made reservations to complete the registration process at a later date, while another 325 are under review, the ministry said.
Cambodian Chamber of Commerce (CCC) Vice President Lim Heng said the number of businesses registered through the single portal has increased as the platform offers great convenience compared to the previous system. The new system is also cost-effective and does not require repeated processes as was the case before for registration with relevant public institutions.
“The single portal offers many advantages and, above all, motivates investors to develop their activities. It also corresponds to the advancement of information technology and Industry 4.0,” he said, referring to the Fourth Industrial Revolution (FIR).
Royal Academy of Cambodia economics researcher Ky Sereyvath hailed the single portal as an adequate management system for registered businesses to upload information to an easily accessible database.
He told The Post that the portal is in line with the FIR and reduces the labor and other resources required for registration, saying business owners only need a cellphone to complete the process.
Sereyvath said the system would enable the government to “properly collect taxes without leakage” and effectively manage small and medium-sized enterprises (SMEs), ensuring the necessary supports for these businesses to compete in the market, as well as to to develop. and thrive.
“Unfair competition and tax evasion are preventing the growth of our SMEs, and the government cannot help them because we don’t know the exact numbers,” he said.
Sereyvath also disclosed that government incentives and grants are provided for duly registered businesses.
Finance Ministry spokesman Meas Soksensan said the single portal only requires each company to complete a single business registration form and takes no more than eight days to complete the process. The information submitted by the company through this system will be automatically transmitted to the state institutions incorporated in this system.
The government launched the integrated business registration platform on June 15, 2020, bringing together six ministries and public institutions – the ministries of finance, interior, trade and labor, as well as the General Department of Taxation (GDT) and the Council for the Development of Cambodia (CDC).
On September 1, the government rolled out Phase II of the platform incorporating four new agencies – the Property and Pawnbroking Regulator Non-Banking Financial Services Authority, and the Ministries of Industry, tourism and telecommunications.
The single portal can be accessed at registrationservices.gov.kh.