The Law on Combating Financing of Mass Destruction Weapons ("Law") was promulgated on 27 June 2020. The Law aims to eliminate all forms of financing of weapons of mass destruction, which is defined as "atomic or nuclear weapons, radioactive weapons, chemical weapons, and bioweapons that may cause death or widespread terror to humans or animals as well as any other weapons that may be discovered in the future that may cause similar destructive effect as the aforementioned known weapons".
The Law on Anti-Money Laundering and Combating Financing of Terrorism was promulgated on 27 June 2020. It replaces the Law on Anti-Money Laundering and Combating Financing of Terrorism promulgated in 2007 and amended in 2013 (“2007 AML-CFT Law”). The regulations issued under the 2007 AML-CFT Law remain in effect until there is a new set of regulations issued to replace them.
The Prakas of the National Bank of Cambodia ("NBC") No. B7-020-352 on Credit Reporting ("Prakas") was promulgated on 26 June 2020. This new Prakas replaces the Prakas of the NBC No. 011-145 on Credit Reporting issued on 24 May 2011. The Prakas aims to assess and reduce financial risks taken by financial institutions in Cambodia. The Prakas further focuses on facilitating Know Your Customer ("KYC") procedures for Anti-Money Laundering ("AML") and Combating Financing of Terrorism ("CFT") activities and easing borrower’s ability to seek financing locally and abroad.
The Ministry of Health issued an announcement dated 4 August 2020 on the Adjustment of the Entry Requirements for Foreign Travellers to Cambodia to safeguard health and safety of foreign travellers visiting Cambodia. Foreign travellers are categorised into four groups: (i) sponsored; (ii) invited but not sponsored; (iii) neither sponsored nor invited investors-businesspersons, company employees, experts, skilled workers, technicians and family members; and (iv) regular foreign travellers (who do not fall within the first three categories).
RGC’s Guideline on Additional Measures to Manage the COVID-19 Economic Impact on the Main Sectors and Economic Acceleration and Rehabilitation Post COVID-19
The Royal Government of Cambodia (“RGC”) has issued consecutive press releases and regulations on preventive measures to mitigate the COVID-19 impact on the main sectors such as garment and textile, tourism, and aviation. The impact has been decreased but not vanished. The main sectors are still affected by COVID-19. Therefore, the RGC has issued a press release on the fifth round of preventive measures on 31 July 2020 in order to (1) rehabilitate and promote business operations and (2) mitigate burden on poor families and vulnerable groups by providing financial support.
The Law on Mutual Legal Assistance (“Law”) was promulgated on 27 June 2020. The Law lists out the requirements and procedures for Cambodian authorities to process legal assistance requests in criminal sector from other nations. The assistance provided under the Law can be in the form of freezing, retention, or confiscation of assets related to criminal activities.
After signing the Madrid Protocol, the Patent Cooperation Treaty, the Hague Agreement, the Geneva Act of the Lisbon Agreement and the Beijing Treaty within the past five years, Cambodia has taken another major step to become a member of the Berne Convention for the Protection of Literary and Artistic Works ("Berne Convention"), another key intellectual property ("IP") protection international treaty which was adopted in 1886 and amended in 1979. On 27 June 2020, Cambodia passed a law to approve Cambodia’s accession to the Berne Convention.
As the custodians of the country, Governments are entrusted with the responsibility to develop new public facilities and infrastructure, operate and maintain such public facilities and undertake significant upgrades to existing public facilities and infrastructure, to serve the needs of its people. Governments in developing and developed countries have sought participation from the private sector as an alternative additional source of development and funding. The Public-Private Partnership ("PPP") model provides Governments with the capacity to assess and manage fiscal impact whilst managing the risk transfer between the public and private partner in order to extract long-term value-for-money over the life of the project.
This publication serves as a guide to highlight the similarities and differences of the reasons and motivations for implementing the PPP model by the Governments of selected countries in Southeast Asia. It also sets out the framework and policies for government procurement adopted for infrastructure projects in these jurisdictions.