The representatives of the GCC shared their best practices with the visiting Ukrainian delegation in Lithuania.
On October 21, representatives from the Governance Coordination Centre (GCC) participated in a meeting with a delegation from Ukraine, which included representatives from the Ukrainian government, state institutions, and state-owned enterprises (SOEs). The visit was organized by the United States Agency for International Development (USAID) in collaboration with UK Aid.
Ukraine recently adopted a new corporate governance law that includes many new provisions and measures aimed at improving the management of state assets.
Thus, the Ukrainian delegation came to Lithuania to meet with the GCC and representatives from various Lithuanian ministries, to visit major state-owned enterprises, and to gain direct knowledge about the successful management of Lithuanian SOEs.
VKC and representatives from the Ministry of Economy and Innovation, and the Ministry of Energy, shared their best practices with the Ukrainians regarding Lithuania’s successful SOE reform. The SOE Good Governance Index and SOE performance evaluation were presented.
Additionally, there were discussions about the importance of SOE boards, the improvement of board selection in Lithuania, the competence and functions of boards, decision-making within boards, accountability, performance evaluation, and shareholder expectation letters.
“We thank our colleagues from Ukraine for their interest in the successful SOE reform in Lithuania and for the invitation to share best practices. We hope that the knowledge gained by the representatives of Ukrainian government institutions and SOEs during their visit to Lithuania will likewise enable positive changes in Ukraine’s SOE sector,” said GCC Director Vidas Danielius.
