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
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