The Corporate Governance Center, in collaboration with the Center for International Private Enterprise, Commercial Law Development Program of the U.S. Department of Commerce, the Asian Development Bank, and the Corruption Prevention Commission, convened the “Corporate Governance in State-Owned Enterprises” workshop on December 19-20.
The primary motivation for hosting the Workshop was the significant role of state-owned enterprises (SOEs) in the country’s economic system and the resulting need to establish proper corporate governance frameworks within the SOEs.
The Workshop addressed the potential benefits of good governance in SOEs and presented the Guidelines on Corporate Governance of SOEs adopted by the OECD in the fall of 2024, as well as the development of an integrity culture in SOEs and key mechanisms for assessing and managing corruption risks.
A separate session of the Workshop was dedicated to the “Corporate Governance in State-Owned Enterprises” research report, which examines various aspects of corporate governance in Armenian SOEs, including the role of the board, financial reporting and transparency, internal control mechanisms and internal audit procedures, and efforts toward proper business practices.
It also includes recommendations for improving corporate governance practices in SOEs and raising awareness among company officials in this matter.
Local and international board members of SOEs shared their experiences aimed at enhancing board effectiveness and improving corporate governance frameworks.
Gregorio Belaunde, Independent Consultant at ADB, Talisa zur Hausen, Policy Analyst at the OECD Directorate for Financial and Enterprise Affairs, Ekaterina Lysova, Program Director at CIPE’s Anti-Corruption and Governance Center, Tatev Asryan, Head of the Methodical Support Department at the RA Corruption Prevention Commission, Narine Melikyan, Director of the Corporate Governance Center, Hagen Schweinitz, Global Practice Leader of Board and Governance Advisory Practice at Eric Salmon & Partners, Dimitri Chichlo, CEO and Founder of AndSecure, and Romas Svedas, Head of the Management Department at the Governance Coordination Centre in Lithuania, served as speakers during the Workshop.
