12 April 2014
Cambodia's Ministry of
Commerce said Friday that it had granted operating licenses to 1,066 new companies
in the first three months of this year, up 75% compared with 608 firms over the
same period last year. Of the figures, foreign businesses accounted for 488, up
66%, while local registrations saw an 84% rise to 578.
Foreign companies are
mostly run by Chinese, South Koreas, Japanese, Malaysian and Vietnamese and
doing businesses in garment, footwear, agriculture, agro-industry, tourism and
construction.
Spokesman for the
Ministry of Commerce, said the growth in new businesses showed the country's
good security and political stability in combination with favorable business
climate for investors. The ministry believes that more foreign investors,
particularly from China, Japan, and European countries, will come to Cambodia
in coming years.
Last year, the country
recorded a 12% drop in new business registrations due to continued political
dispute between Prime Minister Hun Sen's ruling party and Sam Rainsy's
opposition party following the contested July election.
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