Mergers and Acquisitions Regulation in Cambodia: A Review of the Revised Law Governing Business Combinations

Joseph Lovell, Managing Director, IAO Asia

Over the last decade, the Kingdom of Cambodia has continued to increase its attractiveness to international investors both through consistent economic growth and the on-going reform of its regulatory environment marked by the adoption of more sophisticated legal processes and procedures. While disrupted by the COVID-19 pandemic, Cambodia’s economy has convincingly rebounded. At the same time, the investment climate has improved with the adoption of the new Law on Investment and Law on Competition and the supporting implementation regulations for these laws. Given these factors, together with its strategic location, young population demographic, competitive wage levels and other positive considerations, more international investors and companies are considering and committing to involvement in Cambodia than at any time since the Kingdom’s post-civil war normalization of the 1990s.

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Cambodia Mergers & Acquisition Consultant January 2024 Vol.17, No. 66, Winter 2024

Joseph Lovell

Joseph Lovell is the Managing Director of IAO Asia. His areas of practice include corporate & project finance, M&A, and cross-border investment. Joseph is a member of the US state Bars of New York, Texas, and Hawaii. He has a BS degree from Georgetown University and MA and JD degrees from the University of Hawaii. In Cambodia for over a decade, Joseph has over that time advised on some the most significant M&A and finance transactions in the Kingdom. Joseph is a native English speaker with Mandarin as a second language. He also speaks basic Khmer, Hokkien and French.

IAO Asia

IAO Asia is an advisory firm active in a number of areas and sectors related to international investment in Cambodia. Its main areas of practice include corporate & project finance (debt and equity), M&A, PE, and banking and financial institutions. While continuously improving, the Cambodian legal and regulatory system can be opaque and complex. IAO Asia helps its clients navigate to avoid or overcome obstacles with timely and correctly informed analysis and information.

Cambodia Mergers & Acquisition Consultant January 2024 Vol.17, No. 66, Winter 2024