[PHNOM PENH POST]
Cambodian's commerce regulations and political stability has led to an
increase in companies applying to operate in the Kingdom in the first 7
months of the year, according to Ministry of Commerce Secretary of State
Chan Nora.
Some 1,835 ventures have applied to operate in the
Kingdom from January to July this year, a 35 percent rise on the same
period last year, Ministry of Commerce statistics show.
“The
increase is due to Cambodia’s political stability, strict commerce
regulations and reliable government,” said Chan Nora.“The rising number
of commercial companies regsitering [in Cambodia] will hasten economic
growth.”
Cambodia's growth in firms highlights growing investor
interest in Cambodia’s market, said economist Kang Chandararot. “Once
these new firms process their production lines, it will provide
additional jobs for the population,” he said.
The country has a
total of 503,008 businesses nationwide, of which 19 percent are based in
Phnom Penh, preliminary results of the Ministry of Commerce’s first
economic census, EC2011, show. “The results of the EC2011 will be used
for formulating various policies, academic research, management strategy
and market research in the private sector, and so on,” a statement
said.
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