Second Consultation on Public-Private Partnership Mechanism Draft Law

Ministry of Economy and Finance has convened the second consultation on the draft law about Public-Private Partnership Mechanism among key concerned stakeholders.

Taking place here in Phnom Penh on Wednesday, the consultation meeting was chaired by Secretary of State at Ministry of Economy and Finance H.E. Vongsey Vissoth.

Delegates from competent government institutions, development partners, investors, legal firms as well as national and international chambers of commerce attended the gathering.

According to the secretary of state, the development of the draft law intends primarily to address challenges of public-private partnership, especially related to public service provision and development of physical infrastructure to promote private national and international investments.

Once in place, the law will also enable a transparent, equal and fair environment in utilising national resource to maximise cost-efficiency, he continued.

Private sector can bring about effectiveness, opportunities, knowledge, and skill necessary to further boost Cambodian economic performance in alignment with the government’s commitment to reach upper-middle-income country by 2030 and a high-income economy by 2050.

H.E. Vongsey Vissoth underlined that the inputs from the consultation meeting will be used to ensure a comprehensive and well-integrated legal tool to facilitate public-private partnership mechanism toward the said objectives.

Source: Agency Kampuchea Press