Antimonopoly agencies in all developed countries have been successfully working for a long time on the principle of corporate governance, which contributes to increasing transparency and efficiency of companies' activities. The need for the development of corporate governance has also matured in the Kazakh government agency, Delovoy Kazakhstan reports.
Since November of this year, the Agency for the Protection and Development of Competition has introduced elements of corporate governance. Now the Agency's short- and long-term goals and objectives, as well as decision-making on the most key and significant issues, for example, mergers and acquisitions, opening antitrust investigations, etc., will be discussed and determined collectively.
"We strive for high-quality management, whole industries, enterprises and, most importantly, people are behind the decisions of each of our employees, and this is a huge responsibility. All the planned and implemented transformations will contribute to improving the efficiency and transparency of the APDC 's activities, and will also eliminate corruption risks" Marat Omarov, head of the Antimonopoly Agency
In addition, for the subsequent implementation of corporate processes in the department, a memorandum of cooperation was signed between APDC and the Association "Qazaq Independent Directors". The parties agreed to establish partnerships and develop long-term cooperation aimed at implementing joint projects in the field of corporate governance.
In the future, it is planned to create a Supervisory Board in the APDC, which will include independent experts and judges. Its main function will be to provide recommendations to the Board within the framework of the Agency's activities.
