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Aleksei Vasilyev: The State Property Committee of the Republic of Belarus is ready to actively cooperate with the European Bank for Reconstruction and Development in selection of corporate and legal consultant.

Today the First Deputy Chairman of the State Property Committee discussed issues related to the implementation of the Memorandum of Understanding between the Government of the Republic of Belarus and the European Bank for Reconstruction and Development on improving the management of state-owned enterprises in the Republic of Belarus at a meeting with representatives of the EBRD.

The provisions of the Memorandum are designed for 2 years and include the preparation and implementation of proposals for implementation, including the best world practices of corporate governance in business entities of Belarus with the participation of the state, and other issues of improving the management of government assets. Today's meeting was in Minsk and took place on the eve of the completion of the tenders which was announced by the EBRD ( 7 June 2018) for the selection of consultants on corporate and legal issues.

Mattia Romani, Executive Director for Economics, Policy and Management of the EBRD, said at the meeting that the parties, thanks to close cooperation, managed to go a long way for 8 months since Memorandum signing. Today, it is important for to assess the current situation, to ensure uniformity of approaches that keep our pace of working.


The representative of the EBRD emphasized that although the bank will appoint consultants and be responsible for the choice that was made, this process will be carried out with direct active cooperation with the State Property Committee.

In accordance with the Program of social and economic development of the Republic of Belarus for 2016-2020 which was approved by the Head of State, it is taken action on the improvement of approaches to the management of state enterprises. The goal of the work is to maximize the profit from the use of state assets and increase their value. At the same time, a combined approach based on Belarusian and international experience and practices will be applied.

It was noted that representatives of the State Property Committee and the EBRD demonstrate mutual understanding, common approaches, based on making informed decisions, striving for active and effective cooperation the main purpose of which is to obtain a positive result, which can be extended to other enterprises of the country in the future.

“The EBRD participates in one of the global projects aiming to build a state asset management system in Belarus at the republican level, which will be tested on the example of the State Property Committee organizations, one of organizations is the Belavtodor group of companies. "In the future, it is planned to leave strategically important organizations in the public administration that can be merged into state corporations with the possibility of placing their shares on the Belarusian Currency and Stock Exchange, so it is important to implement a joint project with the EBRD for the next two years " . -  Aleksei Vasilyev said.

Director for Corporate Governance of the EBRD in Ukraine and Belarus, Oliana Gordienko, noted interest potential applicants for the role of corporate and legal consultant in the joint project of the State Property Committee and the EBRD, also she emphasized that among those who are interested there are companies with a worldwide reputation. According to Mattia Romani, Executive Director for Economics, Policy and Governance of the EBRD, the EBRD pays much attention to this project, such as the project can become guiding for other countries, not just for the region, but also for the countries of the Far EAST.

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