Europe and Eurasia

Uzbekistan Corporate Governance Reform Program


Client: Asian Development Bank


CARANA implemented a program of corporate governance reforms at the enterprise and association levels, with the aim of enhancing transparency and disclosure, and safeguarding investor rights. We conducted a diagnostic review of constraints to good governance, examining existing laws, resolutions, decrees, and company charters. In addition, we formulated a set of guidelines on corporate governance, based on international best practices.

These guidelines will serve to develop the capacities of enterprise managers and directors, government attorneys, external managers acting as liquidators and bankruptcy enforcers, and regulators. As part of the project, CARANA hosted a 3-week training program on corporate governance best practices for senior Uzbek government officials. In addition, we equipped an Uzbek Corporate Governance Center and implemented a pilot project on compliance with corporate governance practices in the five largest production and trade associations, and at five large enterprises.