The Ministry of Commerce plans to close the review process and will no longer accept inputs on three new regulations linked to the Kingdom’s Law on Competition. Submissions will end on February 15, before the draft policies are submitted to the National Bank of Cambodia (NBC) for further discussion on February 20.
On February 8, commerce minister Pan Sorasak, who is also chairman of the Competition Commission of Cambodia (CCC), led discussions on the three prakas.
The three drafts define the forms and procedures for temporary suspension of licences, procedures for calculating fines and the limit of prior notice of business mergers.
Phan Oun, director-general of the Consumer Protection, Competition and Fraud Repression Directorate-General (CCF) and head of the CCC Secretariat, told The Post on February 12 that the establishment of the three regulations is necessary.
“The three drafts fall under the purview of the competition law as well as a draft sub-decree on business mergers,” he said, adding that once submissions had ended on February 15, the CCF and then the CCC Secretariat would submit them to the commerce minister for final approval.
“Further discussions will take place with the central bank, and then we will conclude the process,” he said.
Oun expected that the three regulations would help authorities to enforce the competition law more broadly and effectively.
Sorasak said the CCC had consulted international competition institutes to ensure the regulations are effective and meet international standards.
He added that the CCC planned to send officials to visit the Philippines on March 23-24 to research the regulations.
“The independent members of the CCC have shared their experience and provided crucial input at the drafting phase,” he said.
According to a February 10 press release by the commerce ministry, thanks to the joint efforts of the CCC and CCF, the Kingdom has established a number of regulations related to competition and conditions and procedures for negotiation settlements.
