MESSAGE FROM PRESIDENT
Message From President
Dear users and fellow friends of National Commercial Arbitration Center,
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. Using arbitration is the way forward to addressing this business demand.
I can proudly attest that features explained earlier are all available here at NCAC, comparable to arbitration services offered elsewhere. We have robust arbitration 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. The significant jump in cases referred to NCAC demonstrates the increase in demand for arbitration services as well as the trust that businesses have on us. As of today, NCAC has administered 25 cases involving parties originating from six different jurisdictions with a total sum in dispute of more than USD 72 million. All the awards issued by NCAC so far received a good track record in term of enforcement. I am also proud to say that the NCAC arbitrator’s panel is reasonably large, comprising of more than 60 qualified arbitrators with diverse background from five different countries.
NCAC will continue in its strive to build its reputation to be the preferred venue for 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!