Exchange of experience on corporate management

On June, 28 at the modern conference hall of Industrial Business Center TechnoPlaza the master class about the elements of private sector corporate management was hold by Hikmat Abdurahmanov, the head of the Uzbek-Chinese trading house, and Michael Shamshidov, Director Quality of Organizers and sponsors of this event were Association of International Business and Technologies, International Business Travel, China Leasing Group, IBC TechnoPlaza and

Corporate governance is a system of relationships between company managers and owners on the effectiveness of the company and protection the interests of owners, as well as other stakeholders. During the meeting the main problems hindering full implementation of corporate governance in Uzbekistan were discussed.

As noted, there are many reasons why companies of small and medium-sized business don’t choose this type of control. Firstly, the introduction of corporate governance requires a sufficient amount of time, human and financial resources, as well as the necessary knowledge for the full realization of the target.

Secondly, the top managers and staff are not always ready for such a change and acceptance of responsibility, often resist standardization and regulation of their activities but for their education and training appropriate resources are also needed. Thirdly, the owners themselves are unprepared to retire and hand over the reins to other managers.

The discussion was attended by experienced businessmen who shared their experience in corporate management implementation. Participants confirmed that such meetings should be held on a regular basis.