Minister Bogdanov to the OECD: We are creating a basis for efficient and transparent management of public enterprises

We launched a program for the rehabilitation of public enterprises. We are working to create a stable basis for their future development, as well as for the transparent spending of funds on their part. This was stated by the Minister of Economy and Industry, Bogdan Bogdanov, who presented the progress of our country, in the part of state enterprises, at a meeting of the Corporate Governance Committee of the Organization for Economic Cooperation and Development (OECD), which was held at the headquarters of the organization in Paris.

Minister Bogdanov was the head of the Bulgarian delegation and defended the report on the achieved results before the 41st meeting of the Committee and the Working Group "State ownership and privatization practices" on the general framework of state-owned enterprises in Bulgaria. This is one of the key steps, which is part from the accession process of Bulgaria.

"To realize the potential that these companies have, clear goals, control mechanisms and priorities structured on a quarterly basis are necessary. We will implement a centralized monitoring and control system for companies with real-time financial and operational data," he said. The Minister of Economy assured that our country has undertaken the necessary changes to the legislation and regulations for the implementation of the specific laws, so as to work in full compliance with the legal instruments of the OECD.

Bogdanov clearly expressed his position that the accession of our country to the OECD is a key priority for Bulgaria and steps have already been taken to speed up the process. "The reforms we have undertaken are being implemented at the required pace," he was emphatic.

The Minister of Economy discussed the process of Bulgaria's accession to the OECD during meetings with Mr. Kimo Viertola - Vice-Chairman of the Working Group "State Ownership and Privatization Practices" and with Ms. Gita Kothari - Deputy Director of the Legal Directorate at the OECD Secretariat. Our country has made serious progress in the implementation of the necessary reforms in the sphere of state-owned enterprises, it became clear during the meetings.

The government is actively working for a stable business and investment environment," emphasized Bogdanov and pointed out that our country has made the most progress in implementing the rule of law over the past 12 months, according to the data in the new World Justice Project report.

The accession process involves simultaneous technical reviews by OECD thematic committees and accession to the organization's legal instruments. The presentation of the report is one of a series of steps, part of the accession process of Bulgaria to the Corporate Governance Committee, which falls within the competence areas of the Ministry of Economy and Industry - as the leading agency. The Bulgarian delegation also included representatives of the Ministry of Economy and Industry, the Ministry of Energy, the Ministry of Agriculture and Food, the Agency for Public Enterprises and Control, the Bulgarian Energy Holding and the Anti-Corruption Commission.