Siem Reap, September 12, 2007 — IFC’s Mekong Private Sector Development Facility (IFC MPDF) and the Siem Reap provincial government launched a project today that will make it easier to start new businesses in Siem Reap. This includes making it easier to obtain operating licenses, patent tax certificates, and permission from local authorities to locate new business establishments and other required procedures.
Siem Reap Governor, H.E. Sou Phirin said that improving the business environment at the provincial level is a key part of the Royal Government’s Rectangular Strategy and that he expects the province will achieve excellent results through the new project. “Reducing the cost and time required to launch a business is an important way to stimulate growth and employment,” said H.E. Sou Phirin. “Siem Reap is enjoying a tourism boom, but we want to encourage new enterprises both to serve as local suppliers to the tourism industry and to diversify into new sectors such as agri-business, crafts and distribution. We want to make Siem Reap the best place to business in Cambodia.”
Mr. Charles Schneider, IFC MPDF’s program manager, congratulated the Governor of Siem Reap for partnering in initiatives to improve the business environment. “Provincial reform is crucial in Cambodia. Research worldwide shows that for business environment reform to succeed, it must be implemented effectively at the sub-national level. Making it easier to start a business will encourage more businesses to open and this in turn will create new jobs and sources of incomereduce poverty.”
“IFC’s work simplifying business start up in other countries shows strong results,” added Mr. Schneider. “In Vietnam’s Bac Ninh Province, reforms have reduced the number of days required to register a business from 28 to 10 days, and the number of visits to government offices from 10 to 3.”
“Siem Reap wants to build an excellent reputation as a place to do business, and we also aim to help poorer parts of the province attract businesses, said H.E. Sou Phirin. “This project is an important step in creating opportunities for private enterprise. This is important both to diversify the local economy, and to ensure that wealth created through the tourism industry stimulates growth and improve jobs and incomes in other sectors.”
