On 17 August 2023, Oleksandr Okuniev, Chairman of the CGPA Board of Directors, Oleksandr Lysenko, CGPA Board Member, and other members of the Association took part in a roundtable discussion on “Transformation of the Corporate Governance System” organised by the State Property Fund of Ukraine (SPFU).

Deputy Head of the Fund Oleksandr Fedoryshyn presented the development vision and new products – the Sovereign Fund, the Land Bank and the Real Estate Investment Fund. “Among the priorities of the SPFU is the creation of the Sovereign Fund, which will include strategic state-owned companies. They will become drivers of development in their respective industries,” said Oleksandr Fedorishyn.

The SPFU and national and foreign partners are already developing a draft law that will define the criteria by which state-owned enterprises will be recognised as strategic and should be included in the Sovereign Wealth Fund.

One of the key topics of discussion was the creation of a transparent and competitive system for selecting top managers. Reforming the recruitment system will be one of the important steps towards effective management of state-owned enterprises and sustainable development of Ukraine.

Oleksandr Okuniev noted that within the framework of the Memorandum of Cooperation signed between the CGPA and the SPFU, the CGPA is ready to contribute to the improvement and strengthening of trust in the procedure for selecting members of supervisory boards of state-owned enterprises managed by the SPFU. The key components of this cooperation may include organising trainings, establishing a nomination committee, and assisting in the development of internal documents.