Republic of Azerbaijan : Corporate Governance and Ownership of State Owned Enterprises

World Bank

World Bank, Washington, DC

关键词: STATE-OWNED ENTERPRISES;    CORPORATE GOVERNANCE;    INSTITUTIONAL PARTNERSHIPS;    CORPORATE SOCIAL RESPONSIBILITY;    BOARD OF DIRECTORS;   

RP-ID  :  AUS0000257

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This Technical Note assesses thecorporate governance of state-owned enterprises (SOEs) inAzerbaijan with a view to supporting the government’sefforts to bolster economic development. Mutuallyreinforcing recommendations are closely linked and aim toincrease accountability across the whole ownership structureof SOEs, from their ultimate owners, the citizens, to theiremployees. The Note outlines international good practice,summarizes current practices in Azerbaijan, and indicatesareas for consideration to improve SOE corporate governancein Azerbaijan. The Note was prepared by a World Bank Groupteam, based on research and consultations during January -October 2017, to (i) analyze current SOE governanceframeworks and practices in Azerbaijan and identify maindeviations from international good practices; and (ii)develop a series of policy recommendations for furtherreforms in strengthening SOEs governance and improving theireffectiveness. This work may serve as a basis for furthercollaboration between the World Bank and the Government ofAzerbaijan towards SOE reform and related policyconsiderations. Given the significance of SOEs and a rangeof important socio-economic and political-economy relatedfactors, improving SOEs governance in Azerbaijan is asignificant challenge. Implementation of any of therecommendations contained in this Note should form part of abroader strategy for SOEs linked to economic and sectorstrategies in Azerbaijan. This Note aims to build on thepriorities outlined by the Strategic Roadmaps for thenational economy and main economic sectors of Azerbaijan for2016-2020, signed by the President of Azerbaijan on December6, 2016. The Roadmaps re-affirm Azerbaijan’s priorities indiversification of its oil-dominant economy, reduce theState’s participation in the existing state-ownedenterprises, and enable more private sector led growth.