Cambodia's recent freshwater fishery sector reform, instigated at the top level of government, is one of the country's most significant contemporary policy developments addressing natural resources management and rural development. Implemented in two main waves, the reforms culminated in the complete removal of inland commercial fishing lots. Yet serious problems still need to be addressed, including reportedly widespread illegal fishing, difficulties in protecting critical habitats, and competition among state agencies over resource management authority. This report summarizes the context of the recent fishery reforms, analyzes challenges and opportunities for policy implementation after the reforms, and details the outcomes of local institutional innovations in Kampong Thom Province, followed by a discussion of the implications for ongoing efforts aimed at reducing resource conflict and building livelihood resilience.