Logo of Phnom Penh Post newspaper Phnom Penh Post - Data divulged: Company registrations increase

Data divulged: Company registrations increase

Data divulged: Company registrations increase

THE number of new businesses registered in the Kingdom rose nearly 30 percent last year, compared to 2009.

Data obtained from the Ministry of Commerce yesterday showed that 2,572 new businesses were noted in 2010, up from 2,003 in 2009 – a rise of 28 percent. Of this, between 30 to 40 percent were foreign companies, a rise of about 10 percent.

“The global economy slightly impacted our economy. Significantly, we were very politically stable —that’s why both local and foreign investors felt confident in putting down their money for ... enlarging businesses here,” said Hum Hean, director of the Ministry’s business registration department.

“I noticed that there was a sharp increase for small and medium-sized enterprises last year,” he added.

Foreign subsidiaries also went up to 46, from 31, while representative offices registrations increased to 32 from 11.

Many foreign companies registering hailed from the region, and were involved in agriculture, services and tourism, he said.

Hum Hean expected the registrations would keep growing this year.

In 2009, the number of new registrations declined by 27 percent over 2008.

MOST VIEWED

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Pursat Ford assembly plant opens

    The Kingdom’s first Ford assembly plant was inaugurated on June 16 in Pursat province amid rising demand for brand-new vehicles among Cambodians. The facility is seen as a game changer for the domestic automobile industry, which could bring a wave of investors seeking to cash

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • $50B infrastructure plan en route

    The government’s upcoming $50 billion,10-year infrastructure master plan will provide tremendous investment opportunities for domestic and foreign entities, transport experts and economists say. Minister of Public Works and Transport Sun Chanthol revealed the plan to Japanese ambassador to Cambodia Masahiro Mikami on June 15. At

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro