The new Law on the Chamber of Commerce will likely be ready before the end of the year, according to the Cambodia Chamber of Commerce (CCC).
The CCC’s vice-president Lim Heng told Khmer Times yesterday that the new draft of the Law on the Chamber of Commerce has been submitted to the Council of Ministers, and is now being reviewed by the CCC, the Economic, Social and Cultural Council (ECOSOCC), the Council of Jurists and other relevant committees.
“We will try to pass it soon as we have already discussed this legislation extensively,” Mr Heng said. “It will probably happen by the end of the year, and no later than next year’s national elections in July”.
The new piece of legislation will guide the way Cambodia sets up chambers of commerce in other countries, paving the way for overseas investors to open branches in the kingdom.
“We need representative offices abroad to discuss investment in Cambodia,” Mr Heng said. “This will also make it easier for the private sector to obtain information on doing business in the kingdom”.
CCC representative offices abroad will be set up with the sole purpose of serving the private sector, Mr Heng added.
“We will set up offices in bigger countries and areas with sizeable overseas Cambodian populations, such as Europe, the United States, and Canada,” he explained.
Cambodia has several commercial centres in China, including Macau, Nanning, Guangzhou and Beijing.
In May this year, Prime Minister Hun Sen attended the inauguration ceremony for a new commercial centre in Xi’an.