Corporate governance is one of the most important factors determining not only the level of the country’s economic development, but also the social and investment climate. Corporate governance promotes the effective use of JSCs of their capital, accountability of the management bodies of both the AO itself and its shareholders.
All this helps the JSC to act for the benefit of the whole society and raise the level of investor confidence. At a new stage in the development of corporate governance, a combination of deep corporate qualities and joint activities with modern management methods in special business areas of the joint venture are being applied.
Legislation of the countries, including the legislation of the Republic of Uzbekistan, can not cover all the nuances of the work of joint-stock companies, relations between shareholders, the supervisory board and the executive body, all the features of holding a general meeting of shareholders, meetings of the supervisory council, and much more. Legislation should not take them into account. All these are internal standards of society.
The corporate governance system of the JSC is aimed at increasing the transparency of activities, creating and maintaining reliable and effective relations with the shareholder and investors. Ensuring a high level of transparency and completeness of information disclosure is one of the most important priorities for the JSC. “Biznes Daily Media”.
Commission on increasing the efficiency of joint-stock companies and improving the corporate governance system of December 31, 2015, Protocol No. 9 approved the Code of Corporate Governance.
In accordance with paragraph 35 of the Corporate Governance Code, an independent evaluation of the corporate governance system in AO is also carried out by professional participants of the securities market.