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Cambodia

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Editorial

Legal market overview

Cambodia is undergoing substantial changes. Its economy is growing and its legal system is evolving. The Kingdom of Cambodia is governed within the framework of a constitutional monarchy. The monarch acts as the head of state and the prime minister has executive power as the head of government. Its current monarch is King Norodom Sihamoni and Hun Sen is the prime minister. The National Assembly also has legislative powers.

The country has been relatively stable for some time and as a result, the legal market continues to expand. The government is making considerable efforts to develop the country’s legal framework by instituting more regulations with an increased focus on combatting fraud and on the enforcement of tax compliance. Moreover, the government is placing more importance on measures to encourage transparency and accountability in the business sector.

The country’s macro-economy has been growing at a steady rate. Recently, there has been a shift away from the country’s traditional agricultural background with more of a focus on the manufacturing industries. Its tourism industry is buoyant and measures are being put in place to improve the country’s infrastructure and telecoms network.

Energy power projects and the development of real estate are other growth areas and the government is keen to promote foreign investments in such projects. There is also an emphasis on hydro-electric projects as the Mekong River is a major waterway in Cambodia. This has meant law firms have been developing their expertise in areas such as project finance and real estate as well as on construction and infrastructure matters.

Firms have also been busy advising on securities law and on general commercial matters in addition to a number of significant corporate and banking transactions. Some firms also have a key strength in advising major international clients on the protection of intellectual property and on a myriad of employment matters.

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