Representatives of the RA Ministry of Finance participated in the annual Corporate Management Conference organized by the Corporate Management Center. The conference entitled “Modern trends of corporate governance and their response in Armenia” brought together representatives of the public and private sectors, international organizations and the professional community to discuss modern corporate governance trends, international experience and development priorities of Armenia.
RA Deputy Finance Minister Edgar Mkrtchyan delivered a welcome speech within the framework of the forum and emphasized that effective corporate management is one of the most important prerequisites for economic competitiveness, investment attractiveness and sustainable development, and its development in companies with state participation is one of the priority directions of state reforms.
During the conference, a Memorandum of Intent was signed between the RA Ministry of Finance, the Corporate Governance Center, the Corruption Prevention Commission and the State Property Management Committee. Secretary General Hayk Harutyunyan signed the memorandum on behalf of the RA Ministry of Finance. It confirms the intention of the parties to contribute with joint efforts to the introduction and effective application of the best principles of corporate governance in companies with state participation in the Republic of Armenia, as well as the Code of Corporate Governance of the Republic of Armenia.
Lia Hayrapetyan, coordinator of separate functions of the Fiscal Risk Management Department of the RA Ministry of Finance, participated in the panel discussion titled “Corporate Management Developments in State-Participated Companies of Armenia” within the framework of the event, presenting the main goals and reforms of ownership policy of companies with state participation, the main directions of corporate management reforms, their evaluation criteria and steps aimed at strengthening the role of the state as an active and responsible owner.
The conference was an important platform for the exchange of experience, professional dialogue and development of cooperation. Such events contribute to the continuous development of the corporate governance culture in Armenia and the implementation of the best international practices, including state participation in the management systems of companies.
The RA Ministry of Finance continues to implement the corporate governance reforms of companies with state participation, aiming to increase their efficiency, accountability and transparency in accordance with the best international standards.
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