On December 15, 2021, the Corporate Governance Center organized a “Constructive Capital: Unlocking Potential in Armenia and Georgia” discussion.
International experts Eric Hontz (Deputy Regional Director, Europe & Eurasia, CIPE) and Artem Moyseenko (PWC Partner, Head of Corporate, M&A and International Business Restructuring (Russia)) took part in the discussion, who presented the international experience of attracting constructive capital, as well as corporate governance issues on the agendas of Russia and CIS countries.
The Corporate Governance Center in Armenia made a research on the connection between constructive capital and corporate governance through a survey conducted among businesses. According to the Center’s research, the surveyed companies highlighted the role of constructive capital aimed at transparency, accountability and integrity, and perceived its benefits in terms of both the overall economy and their own companies. The respondents singled out the issues of inefficient corporate governance environment as investment barriers. While improving their own corporate governance system the respondents relied more on state support and promotion policies than on their own efforts, which is undertaking and implementing a strong and clear corporate governance commitment. At the same time, the respondents highlighted collective actions of businesses aimed at improving the corporate governance system, such as the Business Integrity Club.
During the discussion, the Georgian partners (ACT and INNOVA companies) presented the results of their own researches on constructive capital.
The discussion was organized within the “EURASIA: CREATING ENABLING ENVIRONMENTS FOR CONSTRUCTIVE CAPITAL, PHASE II” project implemented with the support of the Center for International Private Enterprise (CIPE, www.cipe.org).
