Cambodia expects to have oil flowing by the end of 2012, with revenues expected to reach $1.7 billion.
The subdecree on contract farming, approved Friday by the council, aims to improve farming techniques.
Already well received, the film will now compete against four other finalists for an Academy Award on Feb. 27.
Nationwide, there are thousands of paddy banks across 18 provinces, according to Cedac, a development NGO.
Arbitration Council President Kong Phallack said the lower number was due to the closure of factories in the wake of the 2008 crisis.
Officials would like to see 87 million visitors traveling across Southeast Asia by 2015.
In 2010, Cambodia produced a milled rice surplus of nearly 2.5 million tons.
Cambodia is hoping to produce 1 million tons for rice for export by 2015.
Cambodia has a total nine mobile operators for its 6.3 million users.
An independent analyst says Cambodia could see growth as high as 10 percent in coming years if governance is improved.
Every year, thousands of Cambodians migrate to work abroad in places like Thailand or Malaysia.
In a statement to the Assembly, Prime Minister Hun Sen said Cambodia had a 30-fold difference in trade imbalance.