The Ministry of Commerce registered 9,530 new companies and enterprises in the January-November period of 2024, down 17 percent from 11,506 in the same period last year, the ministry’s report showed on Thursday.
Some 4,725 of the new companies were registered as capital companies, 54 others as foreign trade companies, 4,750 sole proprietorship companies, and 1 cooperative company, stated the source.
At the same time, about 1,284 companies were removed, the report added.
H.E. Mrs. Cham Nimul, Minister of Commerce, said that the ministry has been committed to continuing to deepen the reform and improvement of the quality of the ministry’s public service delivery through promoting automation, reducing both cost and time, maintaining price stability, and boosting domestic trade, market development and private sector development
“The Ministry of Commerce has been working on a range of reforms in updating the business registration automation system by developing electronic business licensing,” the minister said.
