GCC representatives in Paris participated in a meeting of OECD member and candidate countries

On October 29-30, Vidas Danielius, Director of the Governance Coordination Center (GCC), Jurgita Bagdonienė, Head of the Analysis Department, and representatives from the Ministry of Economy and Innovation of the Republic of Lithuania participated in a meeting in Paris with member and candidate countries of the Organisation for Economic Co-operation and Development (OECD).

The meeting discussed the reviewed and updated OECD guidelines aimed at improving the governance of state-owned enterprises (SOEs).

The updated guidelines place significant emphasis on sustainability and anti-corruption prevention, highlighting the crucial role of collegial bodies within SOEs. Lithuania is mentioned as a leader in implementing anti-corruption and integrity guidelines. Considerable attention was also given to transparency and accountability, stressing even more than before the need for strong internal control procedures.

‘During the meeting in Paris, we not only gained a lot of new and valuable information but also had the opportunity to share information with OECD member countries about Lithuania’s progress in implementing anti-corruption prevention policies and procedures in SOEs. We emphasized the importance of shareholder expectation letters in reinforcing the goal of zero tolerance for corruption within SOEs. We are also pleased that Lithuania, as an OECD member, is actively contributing to the implementation and promotion of best governance practices encouraged by this organization in its state-owned enterprises. Striving for the highest standards leads to continuous improvement and professional corporate governance,’ said GCC Director V. Danielius.

In the near future, GCC will introduce the public to the latest guidelines aimed at improving SOE governance in more detail.