1. WomenPreneurs Drive MSME and Economic Development in The Royal Kingdom of Cambodia
Women-owned micro, small, and medium enterprises (MSMEs) are a driving force behind Cambodia’s economic development. Despite the challenges posed by the COVID-19 pandemic, which significantly impacted Cambodia’s key sectors like garment, tourism, and construction, women-owned MSMEs have demonstrated resilience and adaptability.
Many have successfully transitioned their businesses online with the support of digital incubation programs, enabling them to maintain operations and retain staff. The digital transformation of women-owned MSMEs is not only crucial for their survival but also crucial for Cambodia’s inclusive and sustained economic recovery. Digital tools empower women entrepreneurs by enhancing their economic inclusion and adaptability to their unpaid care responsibilities.
To further support women-led businesses, initiatives are underway to address the gender digital divide, improve access to finance, and provide mentorship and training opportunities. Empowering women entrepreneurs is essential for achieving the Sustainable Development Goals and advancing gender equality in Cambodia.
2. The Royal Government of Cambodia has implemented several initiatives to drive business registrations in the country.
These initiatives aim to streamline the process, reduce bureaucratic hurdles, and enhance accessibility for investors. Here are the key initiatives:
The Ministry of Commerce (MoC) together with other Ministries in Cambodia has implemented several initiatives to drive business registrations in the country:
- Online business registration: The MoC has digitized the business registration process and made it available online. Businesses can now register as sole proprietorships, partnerships, private limited companies, public limited companies, or foreign companies through the online platform.
- Streamlined registration process: The online registration process involves submitting information and documents through the within days using the Royal Government of Cambodia’s Online Business Registration system.
- Reduced registration time: While business registration typically took 2-3 weeks in the past, the MoC aims to reduce this time to 8-10 working days.
- Reduced registration cost: The cost of registering a company in Cambodia is KHR 2,155,000, which can be paid online using ABA Pay or a credit/debit card.
- Development of the One-Roof-Service (ORS): The digitization of business registration is the first stage in the development of Cambodia’s ORS digital platform, which aims to provide a one-stop solution for businesses.
- Initiatives to support women-owned and managed MSMEs: The MoC, in collaboration with the Ministry of Industry, Science, Technology, and Innovation (MISTI), has been developing guidelines to support women-owned and managed micro, small, and medium enterprises (MSMEs) and increase their access to the ORS.
These initiatives by the Ministry of Commerce (Cambodia) and Ministry of Economy and Finance (Cambodia) have significantly streamlined the business registration process in Cambodia, making it more accessible and efficient for both domestic and foreign investors.
Concluding Summary
The Royal Government of Cambodia has undertaken several initiatives to promote business registrations within the country. However, increased awareness is necessary to boost the number of business registrations, which will contribute to more efficient governance, increased revenue and enhanced government investments aimed at better serving the Cambodian people.
