PHNOM PENH, Sep. 9, 2009 (Xinhua News Agency) -- Cambodia's ranking has remained low on the global ease of doing business in 2008/2009 while most economies in East Asia and the Pacific strengthened business regulations to help increase opportunities for local firms, the press release from the World Bank (WB) office here said on Wednesday.
"Cambodia was ranked No. 145 out of 183 countries on the ease of doing business as the global economic crisis prompted many countries to accelerate reforms, improving their ranking relative to Cambodia," the World Bank said.
"The World Bank and IFC, the member of the World Bank Group focused on private sector development, are working with the government on improving the business climate."
Between June 2008 and May 2009 a record 131 of 183 economies around the globe reformed business regulations, according to Doing Business 2010: Reforming through Difficult Times, the seventh in a series of annual reports published by IFC and the World Bank.
"The second Investment Climate Assessment, published in 2009 by the World Bank and IFC, identifies priorities to significantly improve the business environment by helping retain existing investors and attracting new ones," said Qimiao Fan, Country Manager for the World Bank in Cambodia.
"This would position Cambodia well to benefit from a recovery in the global economy, and also help its small firms to develop and create jobs."
IFC's Resident Representative in Cambodia, Julia Brickell, noted that Cambodia is making efforts to improve some aspects of the business environment."
According to Julia Brickell, IFC, with support from the European Commission and other donors, is assisting the government to improve commercial dispute resolution mechanisms through the establishment of the National Arbitration Center, which will be a quicker and cheaper alternative to the courts.
"Effective commercial arbitration is crucial in helping businesses enforce contracts in ways that are less costly and time consuming than is currently the case," Brickell said.
"Cambodia was ranked No. 145 out of 183 countries on the ease of doing business as the global economic crisis prompted many countries to accelerate reforms, improving their ranking relative to Cambodia," the World Bank said.
"The World Bank and IFC, the member of the World Bank Group focused on private sector development, are working with the government on improving the business climate."
Between June 2008 and May 2009 a record 131 of 183 economies around the globe reformed business regulations, according to Doing Business 2010: Reforming through Difficult Times, the seventh in a series of annual reports published by IFC and the World Bank.
"The second Investment Climate Assessment, published in 2009 by the World Bank and IFC, identifies priorities to significantly improve the business environment by helping retain existing investors and attracting new ones," said Qimiao Fan, Country Manager for the World Bank in Cambodia.
"This would position Cambodia well to benefit from a recovery in the global economy, and also help its small firms to develop and create jobs."
IFC's Resident Representative in Cambodia, Julia Brickell, noted that Cambodia is making efforts to improve some aspects of the business environment."
According to Julia Brickell, IFC, with support from the European Commission and other donors, is assisting the government to improve commercial dispute resolution mechanisms through the establishment of the National Arbitration Center, which will be a quicker and cheaper alternative to the courts.
"Effective commercial arbitration is crucial in helping businesses enforce contracts in ways that are less costly and time consuming than is currently the case," Brickell said.
10 comments:
What do you expect from a mafia economy!
Cambodia´s Ranking will stay like it is because of the unbelievable corruption!
Just now we try to get some equipment through the customs, it is a corrupted tragedy with stupid but corrupt Khmer people!
Sorry, but that´s the truth:
Incompetent customs officers, corrupt too, and you can do nothing against that.
Good night Cambodia
Rooms to improve? Wow, how about multiple football fields size roomssss to improve?
Worl Bank and IFC,you will kick out of Cambodia over night or put in jail if you keep bother our Pm Mr. Hun Sen the strongest of all!
11:10Pm do not be too stupid is systermatic corruption!
If you not corrupted you will be right away lost your job or busines and soon go to jail1
That what motherfuckers CPP is doint right now to Cabodia! Hell on eart for just,righ, and freedome!
i think cambodia in reality deserve to get more international investment and business than the media or political maverick extremists paint it to be. i think businesses and investors should come to cambodia in person or send their representatives to see, verify, investigate, learn about cambodia's golden opportunity for themselves instead of bending over to the pressure of unfounded political rhetorics from some extremist opposition group. after all, it is so true to say that there are more to cambodia than some special group of people, etc... i think people should use the academic method they studied in colleges and universities to apply to cambodia's reality situation which i believe is not that bad compare to 30, 20, or 10 years ago. i think what people read or believe from the so biased media or political group or what have you are so outdated as people failed to realized times have moved on and changed tremendously in cambodia. khmer people deserve better after what the country and people went through already. investors and busnesses shouldn't let political pressure influence them in such a negative and unproductive way. i mean, of course we all wanted to see cambodia improve in many ways, unless they have something against cambodia and khmer people or unless they are the real enemies of cambodia and khmer people, people shouldn't wish cambodia bad thing at all, really. cambodia is such a beautiful country with beautiful people, culture, tradition, language, customs and etiquette, etc... cambodia is so rich in culture and tradition like arts, dances, ancient civilzation, etc... the entire world can learn from cambodia as well as cambodia can learn from the entire world. plus, cambodia is home to many exotic, rare animals and nature, etc... people who failed to see this is only denying themselves with a rare opportunity to make a difference not only for cambodia and its khmer people, but also their opportunity to discover a unique country and people, etc... i think people see the reality of cambodia, instead of believing in rumors, bias and so forth. cambodia and its khmer people deserve better opportunity. please help to make cambodia an enjoyable place for all to live, work, visit, vacationing, etc... thank you and god bless cambodia.
3:32
You sound like Pailin. All these liberal,elitist media bias out to pain Cambodia negatively. It's a conspiracy!
We agree about what you said on Cambodians, its culture, its natural resource and traditions; we just don't agree the way Hun Sen and its cronies managing the countries and resources. We just want Hun Sen to reform a few things for both short term and longer term development of the country. And that how you can help the country.
Not many people want to do business in Cambodia because they have to bribe at every government level because it is full of corruption.
@ 5:48 AM
You are right, the corruption is everywhere, at every government level! It is like cancer, and it makes some people become rich, but also keeps the normal people poor.
mr. perfect, people bribe in other country too, stop picking on cambodia. i heard worse in thailand and vietnam!
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