Government representatives and National Assembly expert commissions discussed three bills to promote collaboration with Bangladesh, the UAE and Turkey on Monday. Supplied
Government representatives and National Assembly expert commissions on Monday discussed three bills aimed at promoting collaboration and protecting mutual business interests with Bangladesh, the UAE and Turkey.
The bills were reviewed by the Assembly’s expert commission for planning, investment, agriculture, rural development, environment and water resources – which is headed by Chea Vandeth – and the commission for foreign affairs and international cooperation, propaganda and information headed by Chheang Vun.
Government representatives included Chin Bun Sean – Senior Minister in charge of special missions and vice-president of the Council for the Development of Cambodia (CDC) – and Sok Chanda Sophea – a delegate attached to the prime minister who is also Secretary-General of the CDC.
The bills will now be forwarded to the National Assembly’s Standing Committee for review and put on the agenda of the Assembly’s plenary session for deliberation and approval, according to an announcement by the Assembly on Monday.
CDC vice president Bun Sean told the National Assembly that the bills aimed to foster economic cooperation between Cambodia and the three countries and serve as a mechanism to coordinate the flow of investment between Cambodia and the international community.
“The bills also provide legal assurance to foreign investors in Cambodia and for Cambodian investors in partner countries based on equality and mutual benefits,” he said.
As part of the mutual agreement, Bun Sean said, each host country has a duty to provide equal treatment, security, and full protection of business interests for investors on its soil.
National Assembly representatives Vandeth and Chheang Vun offered full support for the bills.
“I will forward the three bills to the Assembly’s Standing Committee to be put on the agenda during the Assembly’s plenary session for deliberation and approval,” Vun said.
Kin Phea, the director-general of the International Relations Institute at the Royal Academy of Cambodia, said the bills would serve as a legal infrastructure to ensure a safe business environment for foreign investors in the Kingdom.
“Foreign countries need a solid legal mechanism to protect their investors’ business interests in Cambodia, while the Cambodian government needs to properly implement the law to gain investors’ trust and respect in Cambodian laws,” he said.
