Wednesday, April 11, 2007

NA plans to prepare laws to govern oil resources

10 April 2007
By Huy Vannak
Radio Free Asia

Translated from Khmer by Socheata

[CPP] MP Chiem Yeap said on Tuesday morning that the National Assembly (NA) is initiating a study for 3 laws governing oil resources at a time when Cambodia believes that it will receive multi-million dollars in oil and gas revenue in the next few years.

CPP MP Chiem Yeap said that based on past experience in other countries in the world, oil rich countries are plagued with problems and poverty because of the greed of businessmen, [a phenomenon] usually called “oil curse,” whereas other countries have seen their lot improved. Chiem Yeap said that Cambodia thus needs a law to clearly govern its oil resources.

Chiem Yeap said: “The 3 main laws are: (1) a law to govern oil resources, (2) a law on the taxation of professions involved in oil, and (3) the taxation on the profit made from oil. Our law must be based on a number of international laws where their application was successful.”

The 3 laws above can guarantee the good governance of oil and preserve the stability of progress in revenue to the country.

Chiem Yeap said that the law governing oil resources will be accommodated according the actual situation in Cambodia, such as the existing laws and investment contracts, as well as the government role in the financial sector to guarantee the transparency of investments.

Regarding the drafting of the law governing oil, MP Sam Rainsy said that there should be an open discussion [on the issue] with the participation of civil society organizations.

Sam Rainsy said that Cambodia must have another important law: the anti-corruption law, in order to guarantee the common national interest. “Each law is linked to some other laws, and one main law [since] we say that we oppose corruption in all domains, now in each domain, we are preparing a special law for that particular domain, but it needs to agree with the main law which is the anti-corruption law.”

Regarding the oil issue, during his recent meeting with the Sultan of Brunei, Heng Samrin, president of the NA, requested the Sultan either to send over oil experts from Brunei to teach in Cambodia, or to send high-ranking Cambodian officials to learn in Brunei.

Prime Minister Hun Sen said in February that Cambodia could receive a significant amount of revenue from oil and gas exploration starting in 2010. The UNDP estimates that Cambodia could receive about $1.7 billion in revenue yearly from oil and gas exploration.

6 comments:

Anonymous said...

Chiem Yeap forgot to mention the BACK DOOR law also. Cha-Chink!! Just like the Forest Law.

Anonymous said...

That is Democracy for you. You
asked for it, and you got it.
There are loopholes in every law
everwhere. And only lawyers can
understand the damn thing. Do you
think you are exempted from this
wherever you are?

Anonymous said...

There is always some loopholes and corruption everywhere. But there is a different between corruption as a exception such as in the Nordics countries and corruption as a norm like in Cambodia and other third world countries.

Anonymous said...

10:04, just because you don't see
corruption, does not meant it
doesn't exist. Don't be too
confident in your judgement,
dude, but I will say this in
general (with negligible
exception): the poorer the nation
is, the more corruption it has.
Is that a fair statement? If so,
forget about one norm for all,
unless we are all wealthy, okay?

Anonymous said...

Thanks 6:08 am. Obviously he did not get my sarcasims. But you gave it to him in Layman terms.

CC, California

Anonymous said...

Sorry 9:19, I am still working on
my language skills. Thanks for the
clarification.