Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Ministers set to OK arbitration centre

Ministers set to OK arbitration centre

Ministers set to OK arbitration centre

THE Council of Ministers is expected to approve the country's first commercial arbitration centre later this month.
The arbitration body will rule on disputes between companies, a role that is currently performed by the courts or Singapore's arbitration centre.

Mao Thora, a secretary of state at the Ministry of Commerce, said approval would pave the way for the centre's launch later this year. "We are ready to help run this centre in conjunction with the Asian Development Bank (ADB) in terms of assisting with human resources and financial support," he said. The ministry had allocated nine people to run the centre, he added.

Nguon Meng Tech, the director general of the Cambodia Chamber of Commerce, welcomed the news but said the launch date remained unclear.

"We look forward to seeing this centre established, as that will provide us with a suitable place to resolve commercial disputes," he said, adding that the CCC has cooperated with the European Union to train a number of lawyers that would represent its members.

Lim Chhiv Ho, the president of Attwood Import and Export Co, a spirits and beer distributor, said the sooner the body was set up, the better. She said it ought to have some foreign experts in its first year, before later employing only local staff.

"Sometimes the judgements delivered by the courts are not acceptable to businesspeople," she said. "But at least now we are moving from solutions using weapons to business mediation."

RECOMMENDED STORIES

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all

  • Ex-RFA journos accuse outlet

    Two former Radio Free Asia journalists held a press conference yesterday claiming they are each owed $28,000 by the US-funded radio broadcaster, which shuttered its in-country operations in September amid a government crackdown on independent media. The journalists, Sok Ratha and Ouk Savborey, maintained they organised