7/29/2019 Last Year Saw More New Firms Register

1/1

Last Year SawMore NewFirms Register By POOl{ D RN

Ai' 0 SIMON l.EWISlHE CAMBODIA DAILYAlmost 3,400 new businesse

were regi tered in Cambodia ina:>12, an irtcre::re of9 pert:eIlton theprevious year, according to figuresfrom the MinistryofCornn1e't:e.In 2012, th ministry's businessregistration department recordedsome 3,385 new companies, com

pared with 3.104 new companiesin 2011 , the figures released bytheministry lastweek show.The business registration department's director, Him Hean.said about 60 percent of comp&nies were local firms. and 40 percent were companies set up inCambodia by foreign investors.Mr. Hean said he 'ould not ex

pand on what kinds of businesseshad registered dluing 2012. bulanofficial in the departmeni, who wasnot authorized to talk to the media,said that a lot of th new comp&nies were impOlt--export firms.'We s:&N lliose companies thatimport and export goods," the officia! said.TI1eofficial added that the growthin the number of fiITI1&--Which also increased in the two previow;;years-was likely a reflection ofcontinued political stability andCambodia's growing economy.The new import-export finDscited by the official may be respon

SIbl for a large increase in traderecorded \astyear.According to the CommerceMinistry' CamControl department, $8.1 billion of imports wererecorded in 2012, compared with$6.6 billion in 201L And exportsacross all goodswent up from $4.9billion in 2011 to $5.5 billion lastyear, the figures show.In Channy, presid nt oAcledaBank, said the bank had lent to alarge number of new companiesin 2012, mostly mall- and mediUIlHlized enterprises."Our lending grew around 25percent in 2012," he said, explaining that the majority of the lendingwas in smaller loans.'1t was the srnaIl- and mediUl1l:[sized] enterplises in an sectorsincluding trade, manufacturingand service," he said