Phnom Penh (VNA) – Cambodia’s draft law on state property management, which was reviewed by the country’s National Assembly at the request of the government, has been handed over to an expert committee for further study.

The Khmer Times reported that the Cambodian Council of Ministers adopted the draft law, which contains 12 chapters and 90 articles, at its meeting chaired by Prime Minister Hun Sen on July 3.

A statement from the Council of Ministers said that the bill is based on Article 58 of the 1993 Cambodian Constitution.

This article states that state property includes land, underground, mountains, seas, seabed, undersea, under-seabed, beach, air spaces, islands, rivers, creek, lakes, tributaries, forests, natural resources, economic and cultural centres, national defence bases and other buildings are designated as state-owned and managed by Cambodian law.

The National Assembly permanent committee noted in a statement that the draft law is designed to strengthen the legal framework, institutional structure and enhance the institutional capacity in managing state assets.

It includes identifying types of state asset sources, strengthening legal systems, managing property and inventory of state property, transfer of asset tenure, development, use of state property, inspection and audit, incentives and penalties for violations of the law regarding such, the statement added.

Executive director of Transparency International Cambodia Pech Pisey said the formation of the law on state property is a positive move because Cambodia has yet to have such specific laws covering the matter./.