In April, the government established the Centralised Procurement Organization (CPO) aimed at optimising procurement processes in the construction sector and related services. Internal documents to govern the organisation’s operations and integrate elements of corporate governance are currently being developed.
On 16 May, the Corporate Governance Concept was approved, laying the foundation for an effective organisational management. The decision was signed by Serhii Sukhomlyn, the Head of the Agency for Restoration.
Corporate governance is more than just a set of formal rules. It is a comprehensive framework that underpins effective management and accountability within the organisation. The concept clearly defines the management structure, outlining the roles and responsibilities of key stakeholders — the state as the owner (represented by the Agency), the supervisory board, and the executive body.
The Concept was developed by experts from the EU Anti-Corruption Initiative (EUACI) in collaboration with the Vasil Kisil & Partners law firm. It incorporates best international practices, including recommendations from the Organisation for Economic Co-operation and Development (OECD).
The approved concept is currently undergoing a professional review by the OECD. The feedback and recommendations will be used to further refine and implement the concept.
A key element of the Concept is the establishment of an independent and effective Supervisory Board. This board will set the CPO’s development strategy, oversee the activities of management, and ensure that decisions align with the interests of both the state and society.
