I like to begin by expressing my gratitude to everyone involved in the establishment of the National Commercial Arbitration Centre (NCAC) of Cambodia, namely the leadership at the Ministry of Commerce, business communities, IFC being the donor supporting the initial training, the many experienced trainers dispatched by SIArb and SIAC, current and former colleagues at the General Secretariat, the Executive Board as well as fellow arbitrators. Without their unwavering support, encouragement, and dedication, NCAC would not be what it is today.
NCAC was born out of the desire to enhance the use of alternative dispute resolution (ADR) in Cambodia and to handle the increasing number of international and domestic commercial disputes which is correlated with the unprecedented economy growth in Cambodia. Foreign investments play an important role in contributing to the economy growth as well as the tremendous increase of cross border commercial deals. What the business communities need is the ability to resolve any dispute arising out of those transactions effectively through a neutral dispute resolution mechanism. A mechanism which can offer parties the autonomy to choose how the dispute should be resolved; the liberty to select the right persons equipped with the necessary technical know-how to decide on the case; and the ability to adopt a procedure that works best in settling their disputes based on the commercial nature of the deals. The ability to resolve disputes in confidence and to enforce the decision globally is also equally important to the business communities. NCAC proudly introduces another method of alternative dispute resolution which is Mediation. Mediation means a process, irrespective of the expression used or the basis upon which the process is carried out, whereby parties attempt to reach an amicable settlement of their dispute with the assistance of the Mediator.
I can proudly attest that features explained earlier are all available here at NCAC, comparable to alternative dispute services offered elsewhere. We have robust mediation rules and a dynamic General Secretariat team. NCAC upgraded its facilities recently by moving into one of the most advanced and prestigious business districts in Cambodia. There are experienced and qualified registered mediators available here at NCAC, who are accredited from Centre for Alternative Dispute Resolution (CEDR), combine in-depth knowledge of commercial practices with expertise in alternative dispute resolution, ready to provide a comprehensive and effective mediation service and assist the parties to reach a mutually beneficial solution.
NCAC will continue in its strive to build its reputation to be the preferred venue for one-stop dispute resolution, offering excellent, efficient and expeditious case administration. While good progress has already been achieved, much more still needs to be done and I am confident we will succeed with your support. We value your voice and we appreciate working with you in upgrading our services for the betterment of the institution.
I thank you for your interest and confidence in NCAC and in Cambodia!