GCC representatives shared good practices with the visiting delegation from Laos in Lithuania

On April 10, representatives of the Governance Coordination Centre (VKC) participated in a meeting at the Ministry of Economy and Innovation (EIMIN) with a delegation from the Ministry of Finance of Laos, currently visiting Lithuania, as well as representatives from the World Bank.

The main goal of the Laotian delegation’s visit to Lithuania is to gain insight into best practices in the governance of state-owned enterprises (SOEs).

Contacts with Laotian representatives established last year have evolved into closer cooperation, leading to this delegation’s visit to Lithuania. During the meeting, experiences were shared about the ongoing SOE reform in Lithuania, the SOE Good Governance Index was presented, as well as the performance results of Lithuanian SOEs. Discussions also covered the importance of SOE boards and decision-making processes, the development and implementation of strategic development plans for SOEs.

During their visit, the representatives from Laos’ Ministry of Finance also visited successful SOEs such as AB “Litgrid”, State Enterprise “Centre of Registers”, and State Enterprise “Turto Bankas”, where they gained a more detailed understanding of these companies’ operations.

“We thank our colleagues from the Ministry of Finance of Laos for coming to Lithuania and actively showing interest in the SOE reform that has been successfully implemented in our country for several years now, as well as VKC’s role in improving SOE governance here. We hope that the knowledge the Laotian delegation gained during their visit to Lithuania will soon bring many positive changes in Laos’ own SOE sector” said Vidas Danielius, Director of VKC, who participated in the meeting.