State Competition Committee, World Bank ink privatization road map
23/07/2015 18:03
State Competition Committee, World Bank ink privatization road map
23/07/2015 18:03
Tashkent, Uzbekistan (UzDaily.com) -- The State Committee of the Republic of Uzbekistan for Privatization, Demonopolization and Development of Competition (State Competition Committee), the World Bank and International Finance Corporation (IFC) signed a road map on joint work in sphere of improving corporate management and deepening privatization processes in Uzbekistan.
According to the press service of the Uzbek committee, the signing ceremony was held in the result of the meeting of the chairperson of the State Competition Committee Davro Hidoyatov with the head of the World Bank Country Office Junghun Сho and head of the IFC Country Office in Uzbekistan Zafar Hashimov.
In the result of the joint round table on reforming system of management of the state enterprises and expanding participation of private sector, as well as several meeting of the management of the State Competition Committee with the head of the World Bank Country Office Junghun Сho and other experts of the World Bank and IFC, the sides developed an action plan (road map) for organization of joint work on further improving corporate management and deepening privatization process.
The sides considered issues, related to technical assistance of the World Bank and a project of action plan on further improving corporate management and deepening privatization process. The special attention was paid to transfer of publication of annual financial reports by the joint stock companies and conducting external audit in line with international financial standards.
Currently, the Uzbek committee conducts wide-scale work on attracting foreign direct investments, improving efficiency of the activities of the joint stock companies, ensuring their openness and attractiveness for potential investors, introducing modern methods of corporate management, strengthening role of shareholders in strategic management of enterprises.
Priority directions are also preparing and improving professional skills of management personal based on cooperation with leading foreign educational institutions and attracting highly skilled foreign managers to management of the joint stock companies.
Within the joint work of the Committee and the World Bank, the World Bank will help to develop Scientific-Educational center for corporate management in Tashkent, educational support of corporate management due to methodical assistance to workers and management of joint stock companies, attracting strategic investors to enterprises of real sector of economy of Uzbekistan.
At the end of the meeting, the signing ceremony of the road map on joint work in sphere of improving corporate management and deepening privatization processes in Uzbekistan was held.
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