A draft law on e-commerce that
would regulate electronic trade in Cambodia will arrive at the Council of
Ministers in August, following revision by two other state institutions. The
draft, which has 12 chapters comprising 81 Articles, is awaiting comment at the
Ministry of Post and Telecommunication and the National Bank of Cambodia. Feedback
is expected from both institutions in July.
The law would bolster trading
activities via electronic networks in local and international markets. Cambodia
will be able to expand the scope of goods trading through this electronic
system and can also make the foreign buyers more aware of our local products
and increase buying order. Cambodia, Laos and the Philippines are the only
members of Asean to not have an e-commerce law, although each country entered
into an agreement to pass a law by 2008.
In Channy, president and CEO
of Acleda, said the law would reduce time in processing documents in the
banking sector and other business operations in the country.
Lim Bunheng, chairman of Loran
Import-Export and Cambodian Rice Exporter Association welcomed the long-awaited
law because it would help reduce transportation costs and increase rice exports
from the country.
The Ministry of Commerce is
also drafting a law on consumer protection and competition scheduled to be
completed next month. World Bank had provided $120,000 to draft the e-commerce
law. The Bank suspended funds in 2011 over the government’s handling of land
evictions in Phnom Penh, but continued “small projects”.
Source:
http://www.cambodiadaily.com/business/e-commerce-law-goes-ahead-with-wb-funding-60518/
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