Vasyl Myroshnychenko, CFC Consulting partner, moderated a panel discussion, “Best Governance Practices at State-Owned Enterprises,” hosted by U.S. Ambassador (ret.) Clifford Bond, Assistant Coordinator at the U.S. Embassy, Kyiv. The event was organized by the President of the Baltic Institute of Corporate Governance, Kristian Kaas Mortenson, CFC Consulting, and independent commercial law reform expert Yaroslav Gregirchak.
The panel discussion focused on the importance of state-owned enterprises’ high performance, transparency, accountability, business ethics, and anti-corruption efforts. Several recommendations were developed during the debate for the Ukrainian government, such as the development of a reform plan to close the gaps between current and best practices and better systematization of State-Owned Enterprises oversight. This led to creating an ownership policy, publishing a dividend policy, establishing and enforcing high transparency and accountability standards, making the first-ever annual report of commercial state assets in Ukraine, and covering FY 2013/2012/2011 for the top two hundred and three hundred Ukrainian State-Owned Enterprises.
The representatives of the State Property Fund, Securities Commission, Ministry of Justice, Ministry of Infrastructure, and state-owned enterprises, such as Naftogaz, Ukrgazvydobuvannia, Ukrtransgaz, and Ukrposhta, attended the panel discussion.