Soft Launch of the Electronic Know Your Business System Announced

September 26, 2024

On 6 September 2024, His Excellency, Dr. Taing Nguonly, Executive Director of Techo Startup Center, with representatives from the Ministry of Commerce, the General Department of Taxation of the Ministry of Economy and Finance, and the Ministry of Labor and Vocational Training, announced the soft launch of the Electronic Know Your Business (“e-KYB”) system, which will be used to verify the identity, status, and legal compliance of entities as well as their relationship with other individuals and entities. It covers aspects such as business registration, tax registration, and enterprise declaration requests.    

The e-KYB system operates on the CamDX platform, which is managed by the Techo Startup Center. This will allow for data sharing and collaboration among participating government and private sector entities. The e-KYB system will work in conjunction with and enhance other government IT systems, such as the e-invoicing system, the public procurement system, and the entity credit scoring system.

Key features and benefits are that the system:

• Digitally verifies information, providing a secure and reliable method for verifying business identities.
• Automatically verifies the information, which ensures efficiency and accuracy.
• Has a clear information verification mechanism, which guarantees that changes in data are verified accurately and transparently.
• Allows for the sharing of existing infrastructure, and the efficient and sustainable use of data.

During this initial period, CamDX members from the private sector must submit a request to the Techo Startup Center through the CamDX membership application portal to use the e-KYB system. Private sector entities that are not CamDX members must first join the CamDX platform in order to use the e-KYB system.