캄보디아 기업법상 회사지배구조의 특징
A Study on the Enterprise Regulations regarding the Corporate Governance in Cambodia Law on Commercial Enterprise
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Cambodia is newly industrialised and emerging in the world economy these days. In 1993, Cambodia officially adopted a market economy system. The country’s entry into the World Trade Organization(WTO) in 2004 was an enormous achievement. Since then, new laws have been formulated and introduced to ensure the effective functioning of it’s market system under the globalisation. In 2005, Cambodia’s National Assembly adopted the Law on Commercial Enterprises in April 2005 and the law entered into force in September 2005. This company law provides for four forms of companies: General partnerships, Limited partnerships, Private Limited Companies and Public Limited Companies. These are governed by the Law on Commercial Enterprises. The law sets forth corporate governance principles that follow many international best practices for investor protection and encouragement of domestic and foreign investment. In spite of these many improvements, governance rules in the new company law will require implementation over time. The new law also includes some governance provisions that could discourage transparency and new investment. Also, it may be asked whether these measures can actually guarantee the practice effect of laws. Hence, it is necessary for Cambodia company law that should be established in incorporation procedure.
Abstract
Cambodia is newly industrialised and emerging in the world economy these days. In 1993, Cambodia officially adopted a market economy system. The country’s entry into the World Trade Organization(WTO) in 2004 was an enormous achievement. Since then, new laws have been formulated and introduced to ensure the effective functioning of it’s market system under the globalisation. In 2005, Cambodia’s National Assembly adopted the Law on Commercial Enterprises in April 2005 and the law entered into force in September 2005. This company law provides for four forms of companies: General partnerships, Limited partnerships, Private Limited Companies and Public Limited Companies. These are governed by the Law on Commercial Enterprises. The law sets forth corporate governance principles that follow many international best practices for investor protection and encouragement of domestic and foreign investment. In spite of these many improvements, governance rules in the new company law will require implementation over time. The new law also includes some governance provisions that could discourage transparency and new investment. Also, it may be asked whether these measures can actually guarantee the practice effect of laws. Hence, it is necessary for Cambodia company law that should be established in incorporation procedure.
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