In the region, state-owned enterprises represent a significant part of GDP, employment, and the market, especially in the utilities and infrastructure sectors. Because of this, SOEs have a great role in the direction a country's economy takes. The quality of governance these enterprises practice contributes to the country's overall competitiveness and its ability to attract foreign direct investment that can vault its economic development into prosperity. Some SOEs suffer from numerous challenges that contribute to the low quality of governance, including vague objectives, a cumbersome bureaucracy, and lack of clear lines of fiduciary responsibilities.
The Hawkamah Institute will conduct an assessment of current firm-level corporate governance practices in accordance with the OECD corporate governance principles for state-owned enterprises, develop an action plan for the SOEs to institutionalize corporate governance principles in their operations, and develop guidelines for SOEs in preparation for privatization.
OECD-Hawkamah Task Force on Corporate Governance of State Owned Enterprises.
Corporate Governance Assessment program.