PHNOM PENH: The Ministry of Economy and Finance (MEF) officially launched the third phase of the Business Registration System on Information Technology Platform (OBR), which aims to digitize and simplify the business registration process, saving business owners time and money.

Phase three of the OBR went live on the morning of June 22, with a launching ceremony attended by the Minister of Economy and Finance, Deputy Prime Minister Aun Pornmoniroth, in addition to representatives from relevant ministries, institutions and development partners.

The OBR is a major reform aimed at easing the burden of doing business in Cambodia by transitioning the business registration process to online platforms, where information can be shared between the relevant stakeholders. Phase one of the project began on June 15, 2020 and immediately changed the way Cambodian business was conducted by simplifying complicated procedures, reducing fees and expediting processes that used to take much longer. The second phase of the project was launched on September 1, 2021.

DPM Aun Pornmoniroth said that the third phase expands the system by connecting the information network to seven more ministries as of today, and five more ministries by the end of July. With the additional data, the DPM says that registration procedures will be even more convenient and efficient for those who wish to establish a legitimate business in Cambodia. MEF Undersecretary Kong Mary also gave a presentation at the ceremony to highlight the benefits of phase three.

MEF Secretary of State Phan Phalla confirmed that the inter-ministerial technical group continues to work closely with relevant ministries, institutions and the private sector to monitor, coordinate, implement and improve information technology initiatives in order to solve problems and address the needs of private businesses.

All phases of the OBR rely on the Cambodia Data eXchange (CamDX) platform, which decentralizes data exchange to bring private and public organizations into the digital age.