Online Consultative Meeting on the New Draft Law on Land Management and Urban Planning
On December 18, EuroCham's advocacy team and members of its Real Estate and Construction Committee joined an online consultative meeting on the new draft Law on Land Management and Urban Planning. The meeting was led by His Excellency Dr PEN Sophal, Secretary of State and other senior officials of the Ministry of Land Management, Urban Planning and Construction.
The consultation particularly focused on the land use index, which regulates the use of areas as e.g. residential, commercial, industrial or touristic areas or as certain restricted areas. Next to the land use index, the new Law will impact future urban planning and land management in many other areas, such as technical building regulations. Detailed conditions, policies and procedures of the development in these areas, however, will be determined by several Sub-Decrees and Prakas, which are still to be issued after the promulgation of the law - for which the timeline is still uncertain. The draft law intends to increase investors' confidence in the construction sector.
We continue to follow-up on the legislative process and to work together with the Royal Government to ensure that the interests of our member companies and the European private sector are considered.
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