High-level launch event on results of OECD Review of Corporate Governance in AIH and its SOEs held in Baku

On December 4, a launch event on the results of the corporate governance review of Azerbaijan Investment Holding (AIH) and its state-owned enterprises (SOEs) conducted by the Organization for Economic Cooperation and Development (OECD), officially took place in Baku. 

High-level officials, representatives of AIH and its SOEs, OECD, international financial institutions, partners and leading consulting firms as well as Charles Donald, Head of the OECD Working Group, who is also CEO of the UK Government Investments (UKGI), attended the event. 

The participants discussed the results of the review and assessed the compliance of the management practices of AIH and its SOEs with the “OECD Guidelines on Corporate Governance of State-Owned Enterprises”. 

During the sessions, it was emphasized that AIH, established in 2020, has achieved significant progress in corporate governance in the SOEs entrusted to its management. Furthermore, there was an exchange of views on important areas that require improvement, such as the development of a comprehensive ownership policy and the appointment of independent board members. It was emphasized that AIH will continue its efforts to enhance the efficiency of its SOEs’ performance, and consequently contribute to attracting foreign investment and developing capital markets in the country.

The event also featured three panel discussions covering corporate sustainability, capital markets, and privatization topics. Furthermore, the revised “OECD Guidelines on Corporate Governance of State-Owned Enterprises” was also presented in the Azerbaijani language. At the end of the meeting, it was agreed to continue cooperation between AIH and OECD in the future.