The central element of the CGI is the Policy Forum. Its basic
role is the process of building up a consensus around the policy agenda
aimed at promoting modern corporate governance standards embodied in
the Policy Recommendation
Paper. The main elements of the institutional structure are:
- Policy Forum of leading public and private institutions and prominent personalities;
- Steering Committee as the means of CGI coordination;
- Secretariat to provide operational management of the CGI.
The Policy Forum is the supreme body in the CGI structure. It
is constituted of about fifty Members invited to participate by the CGI Steering
Committee. Members are prominent public and business personalities with established
integrity and reputation as well as representatives of the public and private
institutions. Its meetings ensure that the work carried out under the initiative
by various institutions reflects a consensus of the main concerned public and
private institutions. It also provides visibility to the initiative effort thus
enhancing its impact.
While the Policy Forum is intended to foster the general consensus
on the implementation of the policy agenda proposed in the PRP, the Steering
Committee provides the coordination of CGI activities and outputs. The Steering
Committee meets regularly and has a major
role in the run-up to the Policy Forum meeting. The Committee prepares the meeting
agenda through advance consultations with the Forum members. The Steering Committee
is formed by the representatives of the CGI founding organizations together
with representatives of Bulgarian Stock
Exchange-Sofia, Council of Ministers,
Ministry of Economy, and
Bulgarian National Securities Commission.
For the purpose of providing permanent support to the work of the Steering Committee, a CGI Secretariat is set up at the Center for the Study of Democracy and provides day-to-day operational management, logistical support and reporting for the CGI activities.
INDUSTRIAL CAPITAL ASSOCIATION
The Industrial Capital Association is a non-profit organization
founded by 49 privatization funds in December 1996 as the Association of Privatization
Funds. Its objective is the protection of major holding companies' interests,
and the introduction of modern corporate principles and culture in Bulgaria.
ICA supports the exchange of ideas, experience and information in the area of
investment process and capital markets; coordinates and unifies the efforts
towards achieving the most favorable legislative framework, and achieving of
cooperation among the domestic and international institutions; coordinates joint
researches, projects, and activities of common interest for its members. All
former privatization funds now transformed into holding companies and investment
companies can be members of AIC with equal rights and obligations. Chairman
of the Association is Mr. Valentin Karabashev, Former Deputy Prime Minister.
ASSOCIATION OF PRIVATE VOLUNTARY PENSION FUNDS
The Association of Private Voluntary Pension Funds is a non-profit
organization established in late 1997. Members of APVPF are 10 Bulgarian private
pension companies. APVPF is managed by a Board of Governors elected every 2
years. Members of the Board are managers of acting pension companies who work
in APVPF on a voluntary basis. Currently, Chairman of APVPF is Mr. Nikola Abadjiev,
Executive Director of Sila Pension Fund.
The Association's main objective is to promote the adoption of a legal and institutional
framework that would contribute to the development of the pension fund industry
in the country.
CENTER FOR ECONOMIC DEVELOPMENT
The Center for Economic Development is a non-profit organization
established in September 1997. Its main objective is to suggest policy options
for accelerating the privatization process and the structural reform currently
under way in Bulgaria. The goals of CED are:
Mr. Alexander Boshkov and Mr. George Prohasky are co-chairs of CED.
- to contribute to Bulgaria's economic development and achievement of sustainable
economic growth during the period of transition to a market economy;
- to promote public debate on major economic policy issues and promote cooperation
among the public and private sector, educational institutions and non-governmental
organizations in addressing economic problems.,
CENTER FOR THE STUDY OF DEMOCRACY
Founded in late 1989, CSD is an interdisciplinary public policy
institute dedicated to the values of democracy and market economy. CSD is a
non-partisan, independent organization fostering the reform process in Bulgaria
through impact on policy and civil society.
CSD objectives are:
- to provide an enhanced institutional and policy capacity for a successful
European integration process;
- to promote institutional reform and the practical implementation of democratic
values in legal and economic practice;
- to monitor public attitudes and serve as a watchdog of the institutional
reform process in the country;
- to strengthen the institutional and management capacity of NGOs in Bulgaria,
and reform the legal framework for their operation.
CSD encourages an open dialogue between scholars and policy makers and promotes
public-private coalition building. As a full-service think tank, the Center
achieves its objectives through policy research, process monitoring, drafting
of legislation, dissemination and advocacy activities, building partnerships,
local and international networks.
CSD has built a considerable record of public policy projects requiring an interface
between the institutions of the state, civil society and the private sector.
Under its USAID supported initiatives for designing a policy and legislative
agenda for the development of capital markets and small and medium size enterprises
in Bulgaria CSD has elaborated and implemented a process of public-private dialogue
on key policy issues of the reforms. The success of this kind of consultations
and coalition-building format is evidenced by the wide support which the output
of those projects received. This experience would be of particular value in
the implementation of the proposed project.
Dr. Ognian Shentov is Chairman of CSD.
The Investors Union is a non-profit organization founded in April
1997. Its aims are to contribute to the improvement of the investment climate
in Bulgaria, to protect the interests of investors and to assist them in their
interactions with organizations looking for investments. The Investors Union
is developing educational programs and publications, both for its members and
for a large number of potential and real investors and cooperates with foreign
shareholders' associations. Chairman of the organization is Dr.
SECURITIES HOLDERS ASSOCIATION
The Securities Holders Association is a non-profit organization
established in June 1997. Its objectives are to protect all types of shareholders'
rights, to inform its members and the public at large on capital markets and
corporate governance issues, and to provide consultancy services to securities
The Association has regional branches in all major Bulgarian towns and has been
actively involved in organizing training seminars and public education events
for the last two years. Chairman of SHA is Mr. Stoyu Nedin.