bernama.com.my
February 18, 2008
PHNOM PENH, Feb 18 (Bernama) -- The Cambodian Ministry of Commerce has finalised a 40-article draft law creating an independent commercial court and arbitration body, said China's Xinhua news agency quoting a local media report Monday.
Mao Thora, Under-secretary of State for the Commerce Ministry, has said that it is hoped that the specialized court for business disputes will be formed by 2009, the Cambodia Daily newspaper said.
Many are hoping that a commercial court would improve Cambodia's capacity to fairly judge disputes in the business sector, and thus move the country further on the road toward a sound market economy, it said.
In a country where the justice system is weak, Mao Thora said the specialized commercial court is needed to ensure investor confidence.
"Investors do not want to filed complaints about business in the civil court. They need a specific court," he was quoted as saying.
The new court could reduce the number of cases clogging provincial courts, impacting the entire justice system, he said.
February 18, 2008
PHNOM PENH, Feb 18 (Bernama) -- The Cambodian Ministry of Commerce has finalised a 40-article draft law creating an independent commercial court and arbitration body, said China's Xinhua news agency quoting a local media report Monday.
Mao Thora, Under-secretary of State for the Commerce Ministry, has said that it is hoped that the specialized court for business disputes will be formed by 2009, the Cambodia Daily newspaper said.
Many are hoping that a commercial court would improve Cambodia's capacity to fairly judge disputes in the business sector, and thus move the country further on the road toward a sound market economy, it said.
In a country where the justice system is weak, Mao Thora said the specialized commercial court is needed to ensure investor confidence.
"Investors do not want to filed complaints about business in the civil court. They need a specific court," he was quoted as saying.
The new court could reduce the number of cases clogging provincial courts, impacting the entire justice system, he said.
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