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PROSPECTS FOR THE DEVELOPMENT OF CORPORATE GOVERNENCE SYSTEM IN THE ENTERPRISE.
Development of production process on a corporate basis Uzbekistan
It is a new, unstudied problem for the Republic, and it is foreign to its study
organization of corporate governance in states, its aspects and
mechanisms, technological by the organizational structures of corporations
in the field of vision, strategic forecasting and organization of corporate shareholders' funds
we need to make extensive use of experiences.
Development of joint-stock forms of business in the twentieth century,
in particular, corporations - for the emergence of open joint stock companies
The owners of these corporations are a large number of private individuals and companies. In most corporations, a shareholder has a single controlling stake
Most or even most of the shares are in the stock market
becomes freely circulating. This is one of the important factors determining the development of the process
one is the expansion of the company's activities in developed countries,
the emergence and rapid growth of new markets between companies
is the intensification of competition. Growing up in a highly competitive environment operating in the market requires firms to expand their activities accordingly reaches In such cases, the question is how to finance it is born. Usually, companies' own funds are not enough and
they use the method of raising funds through the issuance of shares.
At present, the legal and regulatory framework for corporate governance has been created and is being improved in our country.
Joint-stock companies and shareholders of the Republic of Uzbekistan
Law of the Republic of Uzbekistan No. 223-I of April 24, 2009 on the Protection of Human Rights and Freedoms, January 24, 2013
No. PF-3202 - The role and importance of the private sector in the economy of Uzbekistan
Decree on measures to radically increase, the Republic of Uzbekistan
Presidential Decree No. PP-475 of September 27, 2016 “Securities
Resolution on measures for further development of the market, Ministers
Management system of joint-stock companies
August 22, 2018, on measures to improve
No. 361, the placement of shares and the state
shareholders in the management of joint-stock companies established on the basis of property
No. 404 of 18 August 2017 on measures to enhance the role of
and ―Improving corporate governance in privatized enterprises
Resolution No. 189 of 19 April 2017 on measures to does.
Thus, the decision of the corporate governance system in enterprises
The most important thing is to stimulate the process of finding and further development
factor, the legislation of the Republic of Uzbekistan in the field of corporate governance
is to improve the database.
On the implementation of the program to improve the system of corporate governance
You can see the proposals in Appendix 3.1.
The Code of Corporate Governance (Relationships) requires:
- The issuer's charter documents;
- Issuer dividend policy;
- convening and holding the General Meeting of Shareholders of the Issuer order;
- The order of voting by proxy;
- Rules of formation of the Supervisory Board;
- Rules of the Supervisory Board;
- the procedure for awarding members of the Supervisory Board;
- The order of control over the activities of the independent auditor;
- Transactions in which insider information is used, as well as interest
internal control over the implementation of existing transactions
order;
- In connection with the reorganization and liquidation of the issuer
decision-making procedures, and providing relevant information
procedures;
- Issuance of securities and implementation of corporate actions
increase (purchase and sale of large amounts of assets, companies
the procedure for making decisions on mergers, acquisitions);
- Issuer's public authorities and local self-government
principles of interaction with the authorities
Currently, the corporate governance system is at the level of law
develop regulations to improve and strengthen
being considered. In particular, the above statement of the President of the Republic of Uzbekistan
Approved by Resolution No. PQ-475 of September 27, 2016
Uzbekistan in the Securities Market Development Program in 2017
― Joint-stock companies and the rights of shareholders
amending and supplementing the Law on Protection
The purpose of this is to further strengthen the securities market in our country
creation of mechanisms to stimulate development, joint-stock Improving the system of corporate governance in societies, the stock market
ensuring the sustainability of operations, as well as shareholders
increase protection. It should be noted that in the preparation of this bill
Germany, Great Britain, South Korea, EurAsEC member states
current legislation regulating the securities market,
as well as international standards in the field of corporate governance.
Corporations play an important role in the economies of developed countries
has According to official figures, 100 major U.S. corporations
60% of the country's GDP, 45% of those engaged in production
and 60 percent of investments.
The above figures show that today
The place of large corporations today is not only in the United States but also in the Great
Britain, Japan, Germany and all the rest of the world developed
as well as the scope of its impact on how unique and necessary it is in other countries
we can see how wide it is. That is why we are all
perhaps the experiences of developed countries in the corporate governance system
a thorough study of world-recognized corporate governance models and their
implementation of the advantages of the corporate governance model in Uzbekistan we need to.
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