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Bun Chhay pens public letter expressing his regret

The imprisoned former Co-Minister of Defence Nhek Bun Chhay issued a public letter yesterday expressing regret for his “wrong decisions” that he says harmed Prime Minister Hun Sen and led to members of his own party being stripped of their government positions. Addressing his letter to the members of his Khmer National United Party, many of whom quit the party after being told they would lose their state positions if they did not, the beleaguered minor party leader acknowledged his “mistakes”. “I would respectfully like to express, with honesty and dedication, all the mistakes incorrectly committed against Samdech Hun Sen, president of the CPP ...

Hun Sen announces ‘new’ brigade

Cambodian Navy officials drink beer as they enjoy a lunch break after a closed-door meeting with Prime Minister Hun Sen yesterday in Stung Treng province. Facebook

Prime Minister Hun Sen yesterday announced the formation of a “new” infantry brigade in Stung Treng and the deployment of naval assets to the province following recent border frictions with Laos in the area. Defence Ministry spokesman Chhum Socheat, however, later explained that existing troops would staff the announced brigade, and claimed the moves were not in response to any threats posed by Lao troops, declaring the recent flare-up was “solved”. Dressed in a military uniform displaying his five-star general rank, the premier revealed the plans while visiting soldiers in the province, where long-running border tension culminated on Friday with an ultimatum to Laos ...

NBC unveils online trading platform

Traffic passes in front of the National Bank of Cambodia’s head office yesterday in Phnom Penh.

In order to promote interbank transactions and lending, the National Bank of Cambodia (NBC) has officially launched a new online platform which allows financial operators to apply for and trade the central bank’s financial instruments like negotiable certificates of deposits (NCDs), liquidity-providing collateralised operations (LPCOs) and currency. Central Bank Director-General Chea Serey confirmed yesterday that the online platform, called the National Bank of Cambodia Platform (NBCP), was officially launched on Friday and would help cut down transaction costs. She added that the NBC was currently registering financial institutions that wanted to participate in the new system.

Cooperation on environmental code lagging

Environment Minister Say Sam Al speaks at a consultation workshop on the draft environmental code yesterday at the Phnom Penh Hotel. Facebook

The ambitious environmental code Cambodia plans to adopt by the end of this year would require cooperation among a group of ministries, but current efforts to get each on board have met difficulties. The more than 400-page code, which was discussed yesterday at a consultative workshop, aims to promote sustainable development through protection and restoration of the environment. It also assigns greater management control of natural resources to the local level. Brian Rohan, legal adviser at the Vishnu Law Group, said that since many of Cambodia’s environmental laws were created 10 to 20 years ago, changes like the effects of climate change and availability of sustainable energy have arisen.

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