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Cambodia Report

Entrepreneurial Missions Index

41.81

General Information

Population

13,977,903 (66th most populous country in the world)

Religions

Languages

Buddhist             96.4% Khmer 95.0%
Muslim   2.1% French
Other   1.3% English
Unspecified   0.2%

Industries

Tourism, garments, construction, rice milling, fishing, wood and wood products, rubber cement, gem mining, textiles

Unless otherwise noted, all information included here was obtained from the World Factbook project 4, conducted by the Central Intelligence Agency (CIA). For more detailed information about Cambodia, visit https://www.cia.gov/library/publications/the-world-factbook/geos/kh.html.

Business Information

The World Bank ranks Cambodia as 0 out of 183 economies in terms of ease of doing business. The country ranks as 0 (of 183) in terms of ease of starting a business.

It requires 0 procedures, takes 0 days, and costs N/A% of income per capita to start a business in Cambodia.

The World Bank ranks Cambodia as 145th out of 183 economies in terms of ease of doing business.  The country ranks as 173rd (of 183) in terms of ease of starting a business.

It requires 9 procedures, takes 35 days, and costs 138.4% of income per capita to start a business in Cambodia.

In order to start a business in Cambodia, one must follow these procedures:

  1. Deposit the legally required initial capital in a bank and obtain deposit evidence
  2. Check the uniqueness of the company name
  3. Have an abstract of the company organization documents (bylaws, memorandum, and articles of association) published in a recognized public newspaper
  4. Incorporate the company with the Commercial Register, maintained at the Office of the Clerk of the Commercial Court
  5. Make a company seal
  6. Have registration documents stamped and approved by Phnom Penh Tax Department
  7. Register the company for VAT and patent at the Real Regime Tax Office
  8. Notify the Ministry of Labor of the start of operations and hiring of employees
  9. Receive inspection from the Labor Inspector

Unless otherwise noted, all information included here was obtained from the Doing Business project 3, conducted by the World Bank. For more detailed information about starting a business in Cambodia, visit http://www.doingbusiness.org/.

 

The World Economic Forum (WEF) was founded in 1971 by Klaus Martin Schwab at the University of Geneva in Switzerland.  It is a non-profit foundation best known for its annual meeting in Davos, Switzerland, which brings together top business leaders, international political leaders, selected intellectuals and journalists to discuss both economic and social issues facing the world.  The WEF also serves as a think tank, and publishes a wide range of reports focusing on issues of concern and importance to Forum communities. In particular, Strategic Insight Teams focus on producing reports of relevance in the fields of competitiveness, global risks and scenario thinking.  The Global Competitiveness Report measures competitiveness of countries and economic competitiveness among a wide range of factors such as corruption, tax rates, work ethic, and many others.

 

Cambodia Economic Freedom

The annual survey Economic Freedom of the World is an indicator produced by the Fraser Institute, a libertarian think tank which attempts to measure the degree of economic freedom in the world's nations. Economic Freedom of the World index has been more widely used than any other measure of economic freedom, because of its coverage of a longer time period

Their measure of economic freedom is based on that the following standards:

  • Personal choice rather than collective choice,
  • Voluntary exchange coordinated by markets rather than allocation via the political process,
  • Freedom to enter and compete in markets, and
  • Protection of persons and their property from aggression by others.

A state will rate high when it focuses on protection of people and their property from the actions of aggressors, enforcement of contracts, and provision of the limited set of public goods like roads, flood control projects, and money of stable value and little else, but a country’s rating on the EFW summary index will fall as government expenditures increase and regulations expand.   

 

Cambodia Summary

 

1 World Economic Forum

2 Free the World
Gwartney, James and Robert Lawson with Herbert Grubel, Jakob de Haan, Jan-Egbert Sturm, and Eelco Zandberg (2009). Economic Freedom of the World: 2009 Annual Report. Vancouver, BC: The Fraser Institute. Data retrieved from www.freetheworld.com.

3 World Bank Data

4 World Factbook Project