Information law ‘on way in 3 years’

4 June 2014

In three years’ time, Cambodia will have legislation clearly outlining what government information is available to the general public, according to a recently signed memorandum of understanding.

Minister of Information and UNESCO’s representative to Cambodia, signed the memorandum on Friday. The MoU says that a $1 million package will fund the three-year process.

Source:

http://www.phnompenhpost.com/national/information-law-%E2%80%98-way-3-years%E2%80%99

Ministry of Commerce Finalizes Three Important Draft Laws

4 June 2014

Cambodian Senior Minister and Minister of Commerce said the ministry has been finalizing three important draft laws.

Those are the draft law on e-commerce, the draft law on consumer protection and the draft law on competition. The three draft laws are expected to submit to the Council of Ministers for approval this year. Besides, other initiatives are taken to improve the country’s rank in the Ease of doing business index of the World Bank.

Source:

http://www.akp.gov.kh/?p=46081

Exports through Preah Sihanoukville Autonomous Seaport Increase by 17%

4 June 2014

According to Deputy Director General of Preah Sihanoukville Autonomous Seaport, in the first four months of this year, the export of goods through the seaport saw an increase by 17.03 % to 1,184,707 tons, if compared to the same period last year.

Source:

http://www.akp.gov.kh/?p=46063

Cambodian Cabinet Meeting Approves 3 Important Documents

3 June 2014

Cambodia’s Prime Minister Hun Sen chaired at the Peace Palace a weekly cabinet meeting. Three important documents – the draft law on insurance, the draft national policy on property assessment system, and the draft national strategic development plan 2014-2018 – were discussed and approved on the occasion.

The draft law on insurance is an amendment of the former law on insurance. This 14-chapter of 114-article draft law, elaborated by the Ministry of Economy and Finance, covers all insurance business activities including general insurance, life insurance, and small-scale insurance in Cambodia. It is aimed to ensure sustainable development of the insurance sector, public interests and increase confidence on insurance services, and so on. Cambodia’s insurance sector has seen notable progress. Last year, the total premium revenue of the sector was US$43 million, while the total assets reached US$111 million. This sector employs some 3,500 workers.

For its part, the draft national policy on property assessment system has been compiled by the Ministry of Land Management, Urban Planning and Construction with an aim to orient the implementation of property assessment in response to the country’s social and economic progress.

The draft national strategic development plan 2014-2018 has been drawn up by the Ministry of Planning to boost the economic development, reduce poverty, promote health sector and social development.

To achieve these goals, Cambodia may need at least 109,017 billion Riel or US$26.58 billion (US$5.3 billion a year).

Source:

http://www.akp.gov.kh/?p=45963

Japan's Marubeni acquires strategic stake in Cambodian power sector

3 June 2014

Japan's Marubeni Corp has agreed to acquire a minority stake in a Malaysian company that owns and operates major power generation and transmission facilities in Cambodia.

Under the agreement announced Monday, the trading company giant will obtain 20% of Leader Infrastructure Ltd, a unit of Penang-based Leader Universal Holdings Bhd, the largest cable and wire producer in Southeast Asia.

This is the first time for a Japanese company to participate in the Cambodian power market. This is a "strategic partnership" with the Malaysian company in Cambodia. Marubeni envisages expanding its power business in Cambodia utilizing its extensive knowledge and experience from its worldwide participation in the power industry. Established in the Cayman Islands in 2007, Leader Infrastructure owns Cambodian Energy Ltd, which operates two 50 MW coal-fired power stations in Sihanoukville. It also owns Cambodian Transmission Ltd which operates the transmission line and substation between Kampong Cham and northern Phnom Penh. Both projects began commercial operations last year.

Marubeni noted that the Leader Group was a pioneer as a foreign independent power producer in Cambodia, having operated a 35 MW diesel-engine power plant since 1997. The Japanese company said its investment was being made through Leader Group company HGN Capital Sdn Bhd.

Source: http://thecambodiaherald.com/cambodia/detail/1?page=13&token=ZDdlYmQzOGJhZTE#sthash.D6YSE9Xl.dpuf

Cambodia, UNESCO Reach MoU on Drafting the Law on Access to Information

3 June 2014

The Ministry of Information (MoI) of Cambodia and UNESCO reached a Memorandum of Understanding on the Project to Promote Law Making on the Access to Information with the financial assistance of over US$1 million from the Government of Sweden.

The MoU was signed at MoI by H.E. Khieu Kanharith, Minister of Information, and H.E. Ms. Anne Lemaistre, Representative of UNESCO in Cambodia. This is a starting point of cooperation between MoI and UNESCO with the support from Sweden. The Law on Access to Information is not only for journalists, but also for the whole Cambodian people. H.E. Ms. Anna Maj Hultgard, Ambassador of Sweden to Cambodia, who was also present on the occasion, affirmed the Swedish government’s full support to the drafting process of this law.

The drafting process would take three years. Workshops both at national and sub-national levels as well as inter-sectoral workshops will be organized with the participation of relevant institutions, journalist associations, civil society organizations and human rights groups.

Source:

http://www.akp.gov.kh/?p=45965

Chinese Investment on Cambodia’s Construction Sector Reaches US$1,427 Million in First Four Months of 2014

3 June 2014

During the first four months of this year, China invested approximately US$1,427 million in Cambodia’s construction sector.

The information was made known by Undersecretary of State for Land Management, Urban Planning and Construction H.E. Tep Thon on May 31 at the grand inauguration ceremony of China’s Project Saleable Offices of Condo Building CASA MERIDIAN at Phnom Penh’s Koh Pich Convention and Exhibition Center. Last year, the total Chinese investment value in Cambodia’s construction sector was amounted to US$2,773 million, up from US$2,109 million in 2012 and US$1,734 million in 2011. The increase in Chinese investment in Cambodia reflected the Chinese investors’ confidence in the Royal Government of Cambodia led by Prime Minister Hun Sen and the political and economic stability as well as the development in Cambodia.

According to Oknha Pung Kheav Se, Chairman of Cambodia Constructors Association, the 33-storey CASA MERIDIAN project, which will be constructed by Overseas Cambodian Investment Corporation (OCIC) for a period of 30 months at Phnom Penh’s Koh Pich, will consist of 400 rooms, and cost over US$75 million.

Source:

http://www.akp.gov.kh/?p=46017