Doing Business in Cambodia Becoming More Difficult
Cambodia ranked 137 out of 189 countries in the World Bank’s Doing Business 2014 report released Tuesday, the first drop in at least two years that shows conducting business in the country is becoming more difficult. The report ranks countries in 10 categories, including starting a business, dealing with construction permits, getting electricity, registering property, access to credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. “Cambodia made starting a business more difficult by introducing a requirement for a company name check at the Department of Intellectual Property and by increasing the costs both for getting registration documents approved and stamped by the Phnom Penh Tax Department and for completing incorporation with the commercial registrar,” the report states. … The report points out that Cambodia’s most significant drop was in the category of starting a business. In 2013, the country placed 181 when it came to starting a business, now it is at 184, which is the sixth-to-last spot ahead of countries including the Democratic Republic of the Congo, Eritrea and Burma. … According to the report, Cambodia still lags far behind some of its Southeast Asian neighbors—Malaysia ranked 6 in the report; Thailand ranked 18; and Vietnam ranked 99. Laos, however, fell behind Cambodia at 159. …
Joshua Wilwohl and Aun Pheap
http://www.cambodiadaily.com/business/doing-business-in-cambodia-becoming-more-difficult-46243/
