GCC representatives participated in a seminar organized by the International Monetary Fund for Ukraine.

On May 2, 2024, representatives of the Governance Coordination Center (GCC) participated in a virtual seminar organized by the International Monetary Fund (IMF) for Ukraine, aimed at exchanging good practices in the management of State-Owned Enterprises (SOEs). A virtual discussion took place, with particular emphasis on setting and monitoring Key Performance Indicators (KPIs) for SOEs.

At the seminar, GCC representatives, along with colleagues from countries such as Ukraine, Romania, Georgia, Sweden, and the Netherlands, shared their experiences regarding Lithuania’s SOE governance model and the role of the Ministry of Economy and Innovation in it. They also presented the concept implemented since 2022, which Lithuania uses to establish, evaluate, and confirm both long-term and short-term KPIs, and discussed associated challenges.

“We are pleased that Lithuania can successfully share its good practices with colleagues from abroad, discussing the establishment of SOE KPIs and regular monitoring of their implementation. At the seminar, we emphasized that the ability to integrate strategic planning and implementation control into a single entity makes performance evaluation one of the most valuable management tools. We highlighted that setting KPIs allows both the Government and SOEs themselves to qualitatively monitor and evaluate their activities, leading to informed business decision-making and the achievement of strategic goals,” shared GCC Director Vidas Danielius about his impressions from the international event on exchanging good practices.