Cambodian PM promises strict management of assets to donor countries

Cambodian PM promises strict management of assets to donor countries
December 04, 2008

The government will keep on strengthening its management of state
properties according to law and improving the efficiency, transparency
and accountability of public institutions and enterprises, Prime
Minister Hun Sen on Thursday told the representatives of its major
donor countries.

"The government is committed to effectively managing the revenues from
the exploitation of the minerals, oil and gas, and also well aware
that the anti-corruption law is an indispensable legal instrument to
fight corruption with good result," the premier told the Second
Cambodian Development Cooperation Forum.

In this context, the Cambodian government is strongly committed to
ensuring rapid conclusion and adoption of this law in close
consultation with all concerned parties on the basis of all other
fundamental laws that must be adopted first, he said.

Meanwhile, the premier also said that the national foreign currency
reserve has increased to more than 2 billion U.S. dollars, which can
ensure about 3.3 months of imports of goods and services for domestic
consumption.

In addition, the banking and financial sector in Cambodia are not
seriously affected by the global financial cataclysm because they are
not widely exposed to the international financial system, he said.

International institutions and donor countries promised some 6 billion
U.S. dollars of aid for the kingdom in 2007.

Local reports said that the government targets 7 billion U.S. dollars
of foreign aid in 2008.

Source:Xinhua
.

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