Romania has been recognized by the OECD as an example of corporate governance best practices, in Tashkent

Romania’s efforts to reform the governance of state-owned companies have been recognized today by the Organization for Economic Cooperation and Development (OECD), during the technical workshop “Supporting the reform and privatization of state-owned enterprises in Uzbekistan”, held in Tashkent.

Mihai Precup, president of the Agency for the Monitoring and Evaluation of the Performance of Public Enterprises (AMEPIP) attended this event on behalf of the Government of Romania. President Precup highlighted that Romania was presented as a model of best practices in terms of the transparent selection and appointment of members of the boards of directors of state-owned companies, thanks to the measures implemented by the Government and AMEPIP.

“Our recent experience in improving the selection procedures for the public companies’ management, together with the legislative reforms adopted, has turned Romania into a role model. The recognition from the OECD honors and motivates us to continue on the reform and progress path. These achievements are the result of our sustained efforts and firm commitment to comply with OECD and European Commission standards,” stated the AMEPIP president.

Also, in his address, the representative of Romania presented the platform managed by AMEPIP, operationalized in early March, emphasizing its role in the effective monitoring of financial, non-financial, and corporate governance indicators of state-owned companies.

“Through the platform, we ensure a transparent and rigorous oversight of public companies’ performance, with the ultimate aim of Romania’s accession to the OECD, one of our country’s key strategic objectives”, added AMEPIP president Mihai Precup.

Romania was invited to share details about the selection process for board members, including the criteria and standards applied. These best practices can serve as a model for Uzbekistan and other countries interested in corporate governance reform.
AMEPIP will maintain its commitment and sustained pace to firmly implement corporate governance standards in all state-owned companies, ensuring management dedicated to performance goals – key elements of Romania’s path towards OECD membership.

“We are deeply committed to strengthening corporate governance standards in Romania and maintaining our commitment to continue reforms at a sustained pace, through close collaboration and constant communication, as well as through an active partnership and open dialogue with state-owned companies. Together, we will build a modern, prosperous, and competitive Romania on the global stage, a valuable OECD member state and an example of best practices for the entire world,” concluded AMEPIP President Mihai Precup.

The technical workshop reunited representatives of public institutions and authorities in Uzbekistan, as well as OECD and other European countries representatives, and experts, to facilitate the exchange of experience and identify best practices in the reform and privatization of state-owned companies in Uzbekistan.