The Cambodian Council of Ministers approved a draft law on bond publication and public bond market on Friday, which aims at helping to develop the economic and social sectors, a government statement said here on Saturday.

The draft law will be a mechanism for collecting free capital from the public or bond investors for providing the credit in long- term investment projects, said the statement from the spokesman office of the Cambodian government.

This law, which covers all public bond market operations in Cambodia, also aims at controlling other bond markets, the statement added.

Meanwhile, the law also allowed the government to create a committee named Cambodian Bond Committee for administrating the bond publication and public bond market and other involved matters.

The draft law, which will be debated in the National Assembly, has 10 chapters and 58 articles and it was organized by the Ministry of Economics and Finance in cooperation with Asian Development Bank, the statement said.

Source: Xinhua