The Ministry of Economy and Finance is drafting a new law on the management of public enterprises and state-owned enterprises, which refers to business ventures and public-private investments. This is according to the consultation workshop on this draft law on September 21, 2023.
According to HE Neth Mony, the Royal Government delegate in charge of the Director General of the General Department of State Property and Non-Fiscal Revenue, public enterprises are enterprises with all or most of the state-owned capital. By the end of 2022, there will be 17 public enterprises in Cambodia and nine new public enterprises just established in 2023, which are 100% state-owned companies.
He added that the preparation of this draft law was done to adapt to the actual situation in the country and the world and to fill the gaps, including the authority of the Ministry, the governing body, the management of state equity capital, and the governance. of enterprise management. Public and so on.
In addition, the drafting of the law is to boost economic productivity, create jobs for the people, attract professionalism, participate in the labor market for profit, and strengthen public services.
This draft law has 10 chapters divided into 79 articles, compared to the 1996 General Statute of Public Enterprises, which has only 4 chapters divided into 49 articles.
Not only that, this new draft law differs from the old law in that it allows public enterprises to have the right to issue and sell bonds in accordance with the law on the issuance and trading of public securities.
It should be noted that public enterprises are divided into two: state-owned companies with 100% state-owned shares and joint ventures with public-private partnerships, in which the state has capital equal to or greater than 51% and the private capital has less or equal capital. 49% of total capital.
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