CENTER FOR INTERNATIONAL PRIVATE ENTERPRISE
CENTER FOR THE STUDY OF DEMOCRACY
REGIONAL FORUM ON CORPORATE GOVERNANCE
SEPTEMBER 22-23, 2000-SOFIA, BULGARIA
SUPPORT FROM: THE NATIONAL ENDOWMENT FOR DEMOCRACY, AND THE EAST-EAST PROGRAM OF THE OPEN SOCIETY INSTITUTE
The Center for International Private Enterprise and the Center for the Study of Democracy, with support from the National Endowment for Democracy (NED) and the East-East Program of the Open Society Institute (OSI), held a regional conference entitled "Business Views on Corporate Governance: Building New Structures in Emerging Markets". The fourth in a series of regional conferences focusing on reform issues, this conference was aimed to craft a unique dynamic-in which the business community, market participants and think tanks forge their own approach to corporate governance.
Transparency, accountability, responsibility and fairness are vital for crafting governance practices both in business and government in emerging democracies. Effective corporate governance allows owners and other stakeholders to be secure in their rights in the company. They also foster investment and growth. The topics discussed at the conference included:
- corporate governance as an antidote to corruption;
- corporate ownership patterns in emerging democracies;
- transparency of financial institutions and corporate infrastructure;
- local policy implementation; and
- defining corporate governance strategies
Sessions were designed for participants to share their experiences and views, and to highlight successful approaches to policy, advocacy and implementation. Participants included public officials, business leaders and international experts in the field of corporate governance.
The Center for International Private Enterprise is an affiliate of the U.S. Chamber of Commerce, established in 1983 to promote private enterprise and market-oriented reform worldwide. As a principal participant in the National Endowment for Democracy, CIPE supports strategies and techniques that address market-based democratic development. CIPE also receives support from the U.S. Agency for International Development (USAID), as well as private corporations and foundations. Since its inception, CIPE has funded more than 500 projects in 90 countries and has conducted business association management training programs in Africa, Asia, Central and Eastern Europe, Latin America, the Middle East, and the New Independent States. Together with the United States Information Agency, CIPE publishes Economic Reform Today, a quarterly magazine.
CENTER FOR INTERNATIONAL PRIVATE ENTERPRISE - An affiliate of the U.S. Chamber of Commerce 1155 15TH Street, NW Suite 700, Washington, DC 20005
|September 21, 2000 (Thursday) - Arrival and hotel registration|
|18:30||Evening reception hosted by the Center for the Study of Democracy|
|September 22, 2000 (Friday)|
|8:30 - 9:00||Registration|
|9:00 - 9:10||Conference opening and introductions by John Sullivan, Executive Director, CIPE and Ognian Shentov, President, Center for the Study of Democracy|
|9:10 - 9:25||Welcoming remarks by Richard M. Miles, United States Ambassador to Bulgaria|
|9:25 - 9:40||Keynote address by Radoslav Tzonchev, Chairman, Bulgarian State Securities Commission: "Corporate Governance in a Central and Eastern European Context"|
|9:45 -11:00||Creating Demand for Corporate Governance|
Presentations will provide an overview of the situation in Slovakia and Poland, highlighting locally developed initiatives and strategies, which have increased awareness of the need for sound corporate governance.
- Eugen Jurzyca, INEKO/Institute for Economic & Social Reforms (Slovakia) discussing the monitoring of corporations through improved quarterly reporting, and
- Mieczyslaw Bak, Institute for Private Enterprise and Democracy (Poland) discussing how awareness of best business practices is a crucial element in building corporate governance.
|11:00 - 11:15||Coffee/Networking Break|
|11:15- 12:00||Questions and follow-up discussion to the morning panel.|
|12:15 - 13:30||Lunch|
Attracting Foreign Direct Investment Through Corporate Governance Best Practices
Speaker: Willard A. Workman, Vice President, United States Chamber of Commerce, International Division
|13:30 - 15:15||Market Participants and the Supply Side Links to Corporate Governance|
Presentations will address the advocacy response of the business community in Bulgaria and Romania by highlighting the effectiveness of locally developed best practices initiatives. Presenters will include:
Joint Chairman introducing the panel:
- Bistra Boeva, Bulgarian State Securities Commission and Head of the CGI Task Force, and
- Valentin Ionescu, Romanian National Corporate Governance Task Force leader and former Minister of Privatization
- Ognian Shentov, Center for the Study of Democracy (Bulgaria) and
- Ion Anton, International Center for Entrepreneurial Studies (Romania)
|15:15 - 15:30||Coffee Break|
|15:30 - 17:00||Discussion Session|
Breakout into four groups of 20 to identify and discuss relevant corporate governance issues within the context of the day's earlier presentations. Focus will be on distinguishing regional implications and possible future paths.
Joint chairmen for the breakout session:
- Willard Workman, USCC,
- Eugen Jurzyca, INEKO,
- Ognian Shentov, CSD
- John Sullivan, CIPE
Private Equity, Corporate Governance and Economic Growth in Southeast Europe
Speaker: Keith Crane, Director, PlanEcon, Inc., Washington D.C.
|September 23, 2000 (Saturday)|
|9:00 - 12:00||Corporate Governance Clinic-The Main Pillars: Institutions of Governance, Corporate Codes, and Institutional Investors |
- Paul Marer, Professor and Director, MBA Program, IMC Graduate School of Business, Budapest (Professor Emeritus, Kelley School of Business, Indiana University, Bloomington), discussing international systems of corporate governance and their effectiveness.
- Darrin Hartzler, Senior Operations Manager - Corporate Governance, Central and East European Department, International Finance Corporation (Kiev), discussing the technical competencies of financial institutions in fostering corporate governance and the impacts on investors.
- John Sullivan, Executive Director, CIPE, Corporate Governance Clinic main panel discussant.
|10:30 - 10:45||Scheduled coffee break|
The Transitional Economies Corporate Governance Initiative
Speaker: Andrew Wilson, CIPE