Kyrgyzstan And World Bank Discuss State-Owned Enterprise Reforms

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 13. Kyrgyzstan's Deputy Minister of Economy and Commerce Benazir Nurlanova met with World Bank Group Country Manager for the Kyrgyz Republic Hugh Riddell and other representatives to discuss advancing reforms in the state-owned enterprise sector.

This was reported by the press service of the Ministry of Economy and Commerce of the Kyrgyz Republic.

"The main topic of the meeting was the practical implementation of reforms in state-owned enterprises, including improving the efficiency of state asset utilization, introducing modern approaches to corporate governance, and developing a competitive environment," the statement said.

During the meeting, the parties highlighted the importance of the joint project "Strengthening Capacity for State-Owned Enterprise Sector Reform," funded by the Swiss State Secretariat for Economic Affairs (SECO) and implemented by the World Bank.

The parties also emphasized the importance of international experience and expert support in improving the regulatory framework, increasing transparency in the management of state-owned enterprises, and creating favorable conditions for private sector development.

Following the meeting, the sides reaffirmed their readiness to continue constructive cooperation to implement priority economic reforms in the Kyrgyz Republic.

Meanwhile, state-owned enterprises play an important role in Kyrgyzstan's economy across a number of sectors, including infrastructure, energy, transportation, and public services. Their performance and governance can affect the efficiency of public asset use, the quality of services and the state's fiscal position.

Reforms in the state-owned enterprise sector commonly involve improving corporate governance, strengthening financial oversight, increasing transparency and clarifying the responsibilities of management and public authorities. Such measures can also help establish more predictable conditions for private businesses and competition.

The World Bank provides analytical, technical and financial support to countries implementing institutional and economic reforms. Cooperation with international development partners, including SECO and the World Bank, can provide access to international expertise and help public institutions strengthen regulatory frameworks and management practices.

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