Phnom Penh (FN), Sep. 14 – The National Assembly of Cambodia expressed deepest disappointment and regret over the unjust decision of the US Department of the Treasury on 12 September 2024, targeting Cambodian businessman Ly Yong Phat, a member of the Standing Committee of the Central Committee of the Cambodian People’s Party, and his LY.P. Group Co., Ltd and four other related businesses.

The National Assembly of Cambodia issued a statement on Saturday (Sep. 14).

The National Assembly of Cambodia stated that "measures based on inaccurate, incomplete, and unjust reports regarding allegations of forced labour and cybercrime are politically motivated and hinder efforts to improve bilateral relations, as well as to address global challenges. These measures have also negatively impacted Cambodia's economy, livelihoods, and efforts toward poverty reduction."

The National Assembly further noted, "As a businessman, Ly Yong Phat has actively contributed to the Royal Government by investing in companies that create jobs for people in both rural and urban communities across many sectors, improving the quality of life for Cambodians. He has also played a significant role in attracting foreign investment to Cambodia."

"The National Assembly considers the baseless actions of the US Department of the Treasury to be contrary to the spirit of cooperation expressed by US Secretary of Defense Lloyd J. Austin III during his meeting with Senate President Samdech Techo Hun Sen in Phnom Penh last June.”

According to the National Assembly, Cambodia has consistently demonstrated its commitment and worked closely with international partners, including the United States, to tackle global issues such as human trafficking and forced labour. Cambodia's legal framework, ratification of international standards, and proactive measures are aimed at safeguarding humanity, preventing crime, and promoting human dignity and the rule of law.

“Cambodia remains open to continued cooperation with its international development partners, including the United States, to address global challenges, rooted in dialogue, mutual respect, solidarity, shared interests, and respect for sovereignty, independence, and territorial integrity, fostering true partnership."
=FRESH NEWS