Logo of Phnom Penh Post newspaper Phnom Penh Post - Public service fees reduced to up growth

Public service fees reduced to up growth

Public service fees reduced to up growth

The government has decided to revise three types of public service fees to boost business registration and draw more investment both locally and abroad, said the ministries of Economy and Finance; and Commerce in a joint statement.

Company registration now costs 1,010,000 riel ($250), down from 1,680,000 riel. Registration for a sole proprietorship or a partnership now costs 180,000 riel, down from 300,000 riel, while changing a business’ name costs 25,000 riel, down from 40,000 riel.

The decision took effect on April 1, said the statement.

Cambodia Chamber of Commerce vice-president Lim Heng told The Post on Sunday that the reduction in fees will help attract investment and boost business registrations.

“Lower prices will make it more convenient for businessmen to invest more. The lowered public service fees will also give investors confidence that the government is paying attention to the private sector amidst the Covid-19 outbreak.

“The more precise pricing will improve the government’s management of taxes,” said Heng.

There were 16,208 new business registrations at the Ministry of Commerce in the first 11 months of last year, up 23.54 per cent year-on-year, its data shows.

MOST VIEWED

  • Body of woman killed in Bangkok returns

    The Cambodian embassy in Thailand is working to repatriate the body of a casino dealer who was shot dead in Bangkok on Monday night. Ministry of Foreign Affairs and International Cooperation spokesman Kuy Kuong told The Post on Wednesday that officials are preparing paperwork to

  • Chikungunya hits 15 provinces, says gov’t

    Ministry of Health spokeswoman Or Vandine said on Thursday that the chikungunya outbreak in the Kingdom has spread to 15 provinces. Some 1,700 people are now suspected to have the disease. Vandine urged people to prevent its further spread by eliminating shelters for the Aedes aegypti mosquitoes

  • Gov’t exempts visa A and B holders from Covid fees

    Airline passengers who are diplomats and officials of international organisations holding Type A and B visas for travel to Cambodia are exempted from paying Covid-19 testing fees, said the Ministry of Health in its latest adjustment of rules on Wednesday. Health Minister Mam Bun Heng

  • Bill covering dress code draws ire

    Ministry of Interior secretary of state Ouk Kim Lek responded on Tuesday to criticism concerning a draft law that would ban women from wearing overly revealing clothing, saying that input from all parties will be considered as the law moves through the promulgation process. Several

  • What’s the deal with Cambodia and China’s FTA?

    Cambodia’s Free Trade Agreement (FTA) with China kicks off a series of FTAs in future but for now, critics wonder what else the parties could bring to the table apart from what it already has to date By the end of this year, Cambodia

  • Cambodia, Vietnam exchange border maps amid criticism

    Cambodia and Vietnam formally exchanged border maps on Monday despite criticism from former members of the Supreme Court-dissolved Cambodia National Rescue Party (CNRP) that the Kingdom is losing land in the deal. The two countries said agreement on the border is 84 per cent complete, leaving