Cambodia: Council of Ministers approves draft law on state assets

The Office of the Council of Ministers of Cambodia has approved the draft law on control, use and management of the state assets during a closed-door Cabinet meeting chaired by Prime Minister Hun Sen, according to Khmer Times.

The draft law initiated in November 2014 comprises 12 Chapters and 90 Articles.

According to the draft, any companies which are allowed to do business involving state assets will only be given leases of between 15 and 50 years. Other conditions must also be strictly adhered to, failing which the lease can be revoked at any time.

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