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

Ministry orders all schools, public and private, to close for SEA Games
From April 20 to May 18, all public and private educational institutions will be closed to maintain order and support Cambodia's hosting of the 32nd SEA Games and 12th ASEAN Para Games, said a directive from the Ministry of Education, Youth and Sport. Cambodia will host the
Almost 9K tourists see equinox sunrise at Angkor Wat
Nearly 9,000 visitors – including 2,226 international tourists – gathered at Angkor Wat on March 21 to view the spring equinox sunrise, according to a senior official of the Siem Reap provinical tourism department. Ngov Seng Kak, director of the department, said a total of 8,726 people visited Angkor Wat to
Angkor Beer strengthens national pride with golden new look and fresher taste
Angkor Beer – the "Gold of Angkor" – has a new look, one that is more stylish and carries a premium appeal, as well as a fresher taste and smoother flavour, making it the perfect choice for any gathering. Angkor Beer recently launched its new design, one
Water supply authority assures public shortages over early ‘24
The Phnom Penh Water Supply Authority (PPWSA) asked for understanding from Phnom Penh residents in some communes where water pressure is weak. They assured residents that all supply issues will be resolved by early 2024, but have suggested that residents use water sparingly in the meantime.
Khmer ballet documentary debuts April 1
A new documentary, The Perfect Motion, or Tep Hattha in Khmer, will premiere to the public on April 1. The documentary film follows two intertwined storylines: the creation of a show called Metamorphosis by the late Princess Norodom Buppha Devi (her very last production) and the
EU’s Sokha resolution ‘a sovereign rights breach’
The National Assembly (NA) said the European Parliament (EP) did not respect the Kingdom’s independence and sovereignty when it passed a resolution strongly critical of the recent conviction and sentencing of former opposition leader Kem Sokha for “treason”. On March 16, the EP issued a