SOEs Accustomed to Demands of Corporate Governance

The issues of forming the board in commercial enterprises were considered during the 14 April first training for representatives of state-owned enterprises.

According to the press service of the Ministry of Economy and Industry (MEI), the training was attended by representatives of more than 20 state-owned enterprises. The head of Corporate Governance Sector at MEI Anar Hajizadeh told them about the role and functions of the board in the management of companies, its rights and obligations, as well as international practice in this area of ​​management.

In 2012, MEI passed the Azerbaijani standards of corporate governance of commercial organizations, which are of advisory nature for state-owned enterprises.

In 2015, the ministry plans to increase the intensity of such trainings. They will organize learning the basics of the application and management of corporate governance in state-owned enterprises on 8 themes and in 38 areas of corporate standards.

It should be noted that the level of commitment to standards is also low in private companies. According to the State Securities Committee, in the first quarter of this year, investors complained of violations of their rights in 190 joint-stock companies. -----08D