IFC PROMOTES CORPORATE GOVERNANCE CODE OF BEST PRACTICES IN CENTARL ASIA

          Dushanbe, January, 27th. (Farangis Rakhimova). — "The workshop was the first in a series promoting the development of corporate governance Code in the region, drawing on experience from both within the region and internationally. Corporate governance experts from Germany, South Africa, Bulgaria, and from the Global Corporate Governance Forum shared their practical experience with the participants", noted a source of information. After the workshop the participants decided to organize a round table in Tajikistan and invite to a discussion on the national corporate governance code representatives of the Government of Tajikistan, private sector, NGOs and other stakeholders. According to IFC's Legal Advisor Saidahmad Ikromov, who led the Tajik delegation at the workshop, a national corporate governance code plays an important role in addressing governance challenges, faced by Tajik companies.         The First Eurasian Workshop on Developing Corporate Governance Codes of Best Practice was held in Baku, Azerbaijan recently. The organizer of the action was International financial Organization (IFC). As the media relations coordinator Muhiddin Todjiev informed the NIAT "Khovar" the workshop brought together government officials and private sector representatives from Azerbaijan, Georgia and Central Asian countries, including Tajikistan, Kazakhstan and Kyrgyz Republic.          "Though some Tajik companies have their internal corporate governance code, there is no national corporate governance code effective in Tajikistan. We hope that its development will promote making the local companies more competitive at both local and international markets and enable environment for attraction of investments" — added he. "The workshop was really useful, because we learnt what practical steps need to be taken, what stages should be passed and who should be involved in the working group while developing corporate governance code of best practice. I am grateful to IFC for providing such an opportunity and for its contribution to the sustainable economic development of Tajikistan", said Valeriy Kim, Head of Legal Department of Tajikistan Banks Association, a participant of the workshop.