commerce ministry: In the 9-minute video clip explaining the process of drafting the E-commerce law, which began in 2013, the commerce ministry said with the rapid growth of internet usage across the country, purchasing goods and services online has expanded rapidly in the last five years, according to Xinhua China. According to the figures of the ministry of posts and telecommunications, some 6.3 million of the kingdom 15 million people have access to the internet by last year, most of them get access to online via smart phones. E-commerce refers to the purchase of goods and services via online system, which would bring a lot of new business opportunities for young entrepreneurs in Cambodia and undoubtedly contribute to the national economic growth, said the press release posted on the ministry Facebook page, along with a video clip. "However, this kind of business requires specific rules and regulations to manage its transactions to ensure accuracy and safety for all the concerned parties," it said. Commerce minister Pan Sorasak said the draft law was not only for Cambodia, but also for the entire world because E-commerce had no borders. "Presently, we work in a physical space, the space where we see each other in conducting trade. Kem Saroeung, director of legal affairs department at the commerce ministry, said the law was designed to protect both investors and consumers. "The draft law will also covers E-payment, which is managed by the national bank of Cambodia," she said. "It also states punishment for those who abuse the law." The bill is being drafted by the commerce ministry in cooperation with justice ministry, posts and telecommunications ministry, national bank of Cambodia and council of ministers. But E-commerce is not in this way, it a big environment..., we can purchase immediately via computer, and E-commerce has no borders," he said in the clip.
(news.financializer.com). As
reported in the news.
Tagged under commerce ministry, ministry topics.