Uzbekistan has announced the implementation of measures aimed at ensuring easy access to information regarding budget expenditures and promoting corporate governance in state-owned enterprises. The directives, outlined in a presidential decree on the state program aligned with the "Uzbekistan-2030" strategy for 2024, UzA reported.
Moreover, the decree underscores a concerted effort to bolster corporate governance practices within state-owned enterprises. Effective from July 1, 2024, companies with a state ownership stake of 50% or more are mandated to adopt corporate social responsibility (CSR) initiatives and publicly disclose reports on environmental, social, and governance (ESG) performance annually by the same date.
The responsibility for overseeing the seamless implementation of these initiatives has been entrusted to the Ministry of Economy and Finance, in collaboration with the State Assets Management Agency (UzSAMA).
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