The inter-agency task force for revision of the Code of Corporate Governance of the Republic of Armenia held its first meeting-discussion at the Ministry of Economic Development and Investments of the Republic of Armenia, and the meeting was chaired by Minister Tigran Khachatryan, as reported the news service of the Ministry of Economic Development and Investments, according to NEWS.am.
The minister expressed gratitude to the members of the task force for attending the meeting and mentioned that he had asked the representatives of various organizations to come together so that they could listen to each other and understand the way in which Armenia has to move forward to radicalize the culture of corporate governance in the private sector and achieve results.
The minister informed that the Code of Corporate Governance of the Republic of Armenia was drafted back in 2010 and that now is the right time to amend the Code due to the changes that have taken place over the years and the change of the business climate.
Chairperson of the board of trustees of the Center for Corporate Governance Tigran Karapetyan stated that the need for revision of the Code is due to the change of corporate rules of the Organization for Economic Cooperation and Development (OECD) and added that the Center is ready to help the government form an agenda and organize the activities effectively.
After a presentation of the results of the analysis on compliance of the Code of Corporate Governance of the Republic of Armenia with the G20 Principles of Corporate Governance and the good working style of corporate governance, the participants of the meeting exchanged views and made recommendations for amending the Code.
The task force comprises representatives of public administration bodies and non-state organizations.