Cambodia sees 44% rise in new company registrations in 7 months

Cambodia has granted operating licenses to 2,424 new companies in the first seven months of 2014, up 44 percent compared with 1,688 firms over the same period last year, according to the latest report of the Ministry of Commerce on Tuesday.
Foreign companies accounted for 1,076, an increase of 32 percent as local registrations saw a 54 percent rise to 1,348.
Ken Ratha, spokesman for the Ministry of Commerce, said foreign firms are mostly operated by Chinese, South Koreans, Japanese and Vietnamese and they are doing businesses in garment, footwear, agriculture, agro-industry, tourism, construction, and real estate.
"The growth in new companies truly shows the country's good security, political stability and favorable business climate for investors," he said.
Last year, the Southeast Asian nation received 2,986 new companies, down 12 percent due to post-election crisis, which just ended last month.