Bulgaria has made a clear commitment to bring the management of state-owned enterprises into full compliance with OECD principles. We are working purposefully for more transparency, accountability and efficiency in the public sector. This was stated by Deputy Minister of Economy and Industry Doncho Barbalov during the presentation of progress on the recommendations from the Review of Bulgaria's Accession to the OECD.
Deputy Minister Barbalov emphasized that Bulgaria has achieved significant progress in the process of adapting national legislation and the institutional framework to the organization's standards. He indicated that the reforms in state-owned enterprises aim to ensure a clearer distribution of responsibilities, increased transparency and effective internal control.
According to him, a number of key steps are ahead in the process of joining the organization. “We have the necessary political support and institutional commitment to implement all recommendations aimed at strengthening public enterprises”, Barbalov emphasized.
He added that Bulgaria is working to ensure that state-owned enterprises become a model of effective management, adding that this is a key condition for the trust of our international partners and for the successful accession to the OECD.
“The Ministry of Economy and Industry, together with the Agency for Public Enterprises and Control, is working on the introduction of new rules for good corporate governance”, Barbalov also indicated, emphasizing that the reforms are part of Bulgaria's broader strategic goal – to ensure sustainable economic development based on effective management of state assets.
For its part, the Working Group of the OECD Corporate Governance Committee assessed Bulgaria's progress in the area of corporate governance, and expressed its expectation for the timely adoption of the necessary legislative changes to implement the key recommendations.