Gov’t Unveils Five New Features in IT Nursery System

• Sommana Yan
• 16 January 2024
• Local News
• 1952 Views

The Cambodian government has introduced five new functionalities to the Information Technology Nursery Business Registration System. This landmark decision, announced through a joint press release on 15 January 2024, aims to streamline online company registration processes and foster a more efficient business environment.

Effective from 15 January 2024, the five new functions integrated into the Information Technology Business Registration System include the ability to (1) modify the details of the registration office address, (2) amend the company’s statute, (3) alter business activities, (4) manage the annual calendar, and (5) edit bank account information. Notably, all processes will be conducted entirely online, eliminating the need for in-person visits.

This strategic initiative is part of the government’s commitment to modernise and simplify the company registration process, guided by the principles of cost reduction, time efficiency, and procedural simplicity. The Information Technology Business Registration System has evolved through three stages, encompassing chain business registration, license applications, and the current phase focusing on business-related licenses, professional certificates, and associated documents.

Launched on 15 June 2020, the first phase of the system aims to create a conducive business environment in Cambodia and enhance the nation’s competitiveness on the global stage. As of November 2023, over 31,365 companies and enterprises have successfully registered in the Information Technology Business Registration System, reflecting a total investment capital exceeding US$9.07 billion. (Read more)

• Laws and Regulation
• Technology and Engineering