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New business registrations down 41%

Share New business registrations down 41% Mon, 5 April 2021 Last year saw 7,860 new businesses register with the Ministry of Commerce, down 40.72 per cent from 13,259 in 2019. At the same time, the ministry dissolved 500 businesses last year, marking a 187 per cent increase from 174 in 2019. At the opening of the ministry’s annual review meeting on April 1, minister Pan Sorasak said his ministry is committed to diversifying the economy and negotiating bilateral and multilateral free trade zones with trading partners to draw in new investment. He said the ministry will work towards strengthening the Kingdom’s intellectual property and consumer protection regimes, promoting public services and further facilitating conditions for doing business.

Electronic, electrical exports hit $755 34M

Share Mon, 5 April 2021 Cambodia exported $755.34 million worth of electrical equipment and electronic components to international markets in 2020, up 31.49 per cent compared to $574.44 million in 2019, according to the Ministry of Commerce. Electrical equipment and electronic components accounted for 4.38 per cent of the country’s total exports in 2020, which were to the tune of $17.21537 billion. Even with Cambodia and the rest of the world put in a precarious situation by the Covid-19 outbreak, the Kingdom’s total exports remained in positive territory last year, the ministry said in a March 29 statement. The ministry’s annual report revealed that total export value had risen by 16.72 per cent from $14.74874 billion in 2019.

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