Cabinet Approves Draft Law on State Property Management and Use

• 3 July 2020
• Local News
• 4198 Views

The cabinet approved the ‘Draft Law on State Property Management and Use,’ on 03 July to strengthen the management of all state assets, including but not limited to land, property and construction, among others.

According to a Facebook post-government spokesman unit HE Phay Siphan, the law was initiated in November 2014 by the Ministry of Economy and Finance based on Article 58 of the 1993 Constitution of the Kingdom of Cambodia.

This new law was formulated in accordance with the applicable law into 12 chapters and 90 articles, said HE Siphan.

He added that the purpose of this law is to strengthen the legal framework and institutional structure, as well as to improve the capacity to manage state assets, including the determination of the source and type of state assets, the legal regime, the preparation of the state inventory, the transfer of rights, the use of state property, inspection and audit, and the determination of incentives and penalties for violations, etc.

On the same day, the cabinet also passed the ‘Draft Law on Commercial Gaming Management’, and announced the reopening of casinos after closing for several months due to the COVID-19 pandemic. (Read more)

• Laws and Regulation