BY JOSHUA WILWOHL | OCTOBER 30, 2014
Almost every aspect of starting or operating a business in Cambodia is becoming more difficult, according to a World Bank report released Wednesday.
Compared to last year, Cambodia dropped in nine out of 10 categories used to measure the ease of doing business in the country, according to the report, “Doing Business 2015,” which surveyed 189 countries. Cambodia’s overall ranking fell from 134 last year to 135 this year.
The report ranks the ease of starting a business, dealing with construction permits, setting up electricity, registering property, accessing credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
Only in the category of enforcing contracts did Cambodia maintain the same rank as in 2013: 178.
In the category of starting a business, Cambodia fell from 183 to 184, ahead of only Chad, Equatorial Guinea, the Central African Republic, Haiti and Burma.
“Starting a business in Cambodia requires 11 procedures, takes 101.0 days, costs 139.5 percent of income per capita and requires paid-in minimum capital of 26.1 percent of income per capita,” the report says.
“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,” it says.