| Xinhua | 23th April 2013 By Agencies |
Cambodia
had granted operating licenses to 606 new companies in the first quarter
of this year, a 33 percent decrease compared with the 904 firms at the
same period last year, the commerce ministry's report showed Tuesday.
Besides
Cambodian-owned companies, those firms are run by mostly Chinese, South
Koreas, Japanese, and Vietnamese. Foreign companies are mainly dealing
in the businesses of garment and textile, footwear, agriculture,
agro-industry, tourism, and construction and real estate.
Yim
Rom, an official at the ministry's statistics and planning department,
said the drop in new business registration was due to the ministry's
restrictions on registration procedures by thoroughly examining proposed
companies' business plans in order to ensure fair competition and to
avoid duplicated trademarks.
Kang Chandararot, president of the
Cambodia Institute of Development Study, said the restrictions will
build more confidence for both local and foreign investors, saying that
the decline in new company opening did not reflect slow economic growth.
In
the whole year of 2012, Cambodia granted operating licenses to 3,385
new firms, a 9 percent rise year-on-year, the commerce report said.
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