Cambodia ranked 145th out of a total of 178 counties in the annual "Ease of

doing business" World Bank-International Finance Corporation rankings. The rank

was unchanged from last year.

The rankings were based on 10 categories of business regulation that gauge the time

and cost to meet government requirements in business start-up, operation, trade,

taxation, and closure.

The World Bank press release said the passage of the Law on Customs and the Law on

Concessions are signs of Cambodia's improved business environment. It added that

Cambodia's 2008 ranking failed to reflect recent business reforms - such as the digitalization

and streamlining of customs procedures at the Port of Sihanoukville - that have not

been fully implemented.

The World Bank's senior economist in Cambodia, Stéphane Guimbert, said the

country's failure to diversify hurt Cambodia's ranking.

"Recent growth, while remarkable, is vulnerable given its dependence on a few

sectors, garments in particular," said Guimbert.