The Ministry of Industry, Science, Technology and Innovation, and the General Department of Small and Medium Enterprises and Handicraft will both soon integrate their online systems with the Ministry of Economy and Finance’s Cambodia Data Exchange (CamDX) online portal.
The news is a welcome relief as Cambodia embraces the digital economy, and innovation continues to be spurred on by the global COVID-19 pandemic. However, the number of different names used for the various online portals has been confusing.
We look at the online business portals announced thus far in Cambodia in 2020.
MISTI KSP (Ministry of Industry, Science, Technology and Innovation Key Single Portal)
The Ministry of Industry, Science, Technology and Innovation online platform is called the MISTI Key Single Portal (MISTI KSP) reports the Phnom Penh Post – although when it was first announced in June 2020, it was called KhmerSME according to the Khmer Times.
The latest report suggests that the Ministry’s online business registration system for small and medium-sized enterprises (SMEs) has recently undergone testing to assess the compatibility with the national Online Portal – CamDX (the Cambodian government launched the online platform on June 15, 2020).
The test for the ministry’s MISTI Key Single Portal (MISTI KSP) had a 90 per cent success in transferring data from CamDX.
The Ministry of Industry, Science, Technology and Innovation Minister, Cham Prasidh, has called for “further review of technical aspects, work efficiency, spelling issues in both the Khmer and English versions, and suggest ramping up data security to overcome the shortcomings before the system’s official launch.”
In addition, the General Department of Small and Medium Enterprises and Handicraft said 200 more SMEs will be added under the pilot registration programme to ensure that the MISTI KSP system runs smoothly.
The Ministries hope to have the systems integrated and launched by November 2020.
Ministry of Economy and Finance Cambodia Data Exchange (CamDX) online portal
Meanwhile, the Ministry of Economy and Finance’s Cambodia Data Exchange (CamDX) online portal, is also referenced as the Cambodia National Single Window Project and the Cambodia Online Business Registration System.
As of October 2nd 2020, more than 1,360 applications have been approved via the Cambodian online business registration since launching in June 2020.
At the launch, six Cambodian ministries were said to be linked with the Online Business Registration System:
- Ministry of Commerce
- General Department of Taxation
- Ministry of Labour and Vocational Training
- Ministry of Interior
- Council of Development of Cambodia
- Ministry of Economy and Finance
However, only the synchronisation of three ministries, Commerce, Tax, and Labour had been implemented.
Read more on how to use the Cambodia Online Business Registration System.
Financial Management Information System (FMIS)
Cambodia launched a new Financial Management Information System (FMIS), which together with a tax data management system, intends to streamline governmental financial information in September 2020.
The system is “connected to the National Bank of Cambodia, other partnered commercial banks, public debt management systems and non-fiscal tax revenue management systems”.
SMEs in Cambodia
A Cambodia Inter-censal Economic Survey in 2014 indicated there were 513,759 enterprises operating in the Kingdom, of which 97.6 per cent were micro-enterprises and 2.2 per cent SMEs. Women-owned 26 per cent of SMEs and 62 per cent of micro-enterprises.
Earlier in 2020, the SME Bank of Cambodia was launched by the Ministry of Economy and Finance which allows SMEs to apply for loans from the SME Co-Financing Scheme.