On October 2, 2024, the Ministry of Economy and Finance, in collaboration with UzAssets JSC, organized the First Forum of Independent Directors of Supervisory Boards of State Companies.
The event was attended by representatives of international financial institutions (World Bank, ADB, EBRD, IFC, etc.), supervisory boards and management boards of large state-owned enterprises, as well as representatives of ministries and agencies.
It is noteworthy that for the first time in Uzbekistan’s history, highly qualified international specialists from the USA, Spain, the UK, the Russian Federation, Turkey, Germany, India, Poland, Mauritius, and other countries were invited to serve as independent members on the Supervisory Boards of 22 state enterprises in Uzbekistan.
In this regard, the Forum established a unified platform to discuss global issues related to defining a comprehensive strategy for transitioning to a new stage of governance of state enterprises. The Forum also officially introduced the appointed independent directors.
During the event, the Ministry of Economy and Finance provided participants with information on the achieved results and priority areas of the investment policy of New Uzbekistan.
The Forum also outlined specific tasks for state enterprises regarding large-scale transformation, the implementation of international standards, and the creation of conditions for further growth of state companies through the integration of modern corporate governance methods
In addition, working sessions were organized for specialists in sectoral directions, where forum participants discussed upcoming tasks and the stages of further collaboration between state companies and independent members.
The main goal of the Forum was to guide the appointed independent directors and state companies in understanding priorities for their productive contribution to the development of state companies, fostering interaction and knowledge exchange between national and international experts, which will further enhance the effectiveness of the collegial bodies of state companies.
The established open and effective dialogue between independent directors and state enterprises will serve as another practical step in addressing current issues, generating advanced ideas, and approaches for conducting transformations in large state companies in Uzbekistan.
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