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Draft laws on bilateral investment accords focus on Bangladesh, United Arab Emirates and Turkey
Phnom Penh, Cambodia--A senior lawmaker said Friday that the National Assembly would soon consider draft oil and gas legislation as well as bills on investment agreements with Bangladesh, the United Arab Emirates and Turkey.
"Investment is one of the key vectors for development,” Pen Pannha said in a welcome address to a meeting of the Cooperation and Development Committee of the Francophone Parliamentary Assembly (APF) in Phnom Penh.
The chairman of the National Assembly’s Legislation and Justice Commission noted that the Cambodian government offered incentives to foreign investors.
"The key to growth is rule of law that is well organised,” he said. "Rule of law must have good governance based on appropriate legislation.
"For example, we have laws on the banking and financial systems, laws against drug trafficking and laws against counterfeit medical products.
"Our assembly will shortly examine draft legislation on petroleum management and exploitation as well as bilateral investment agreements with Bangladesh, the United Arab Emirates and Turkey,” he said.
Pen Pannha chairs the Cambodian branch of APF. The Cooperation and Development Committee is holding a three-day gathering presided over by Gabonese lawmaker Angelique Ngoma, who chairs the committee.