YEREVAN, February 26, /ARKA/. Armenian economy minister Nerses Yeritsian said today his ministry is developing mechanisms that would help implement the corporate management of joint stock companies.
He said a related corporate management code is ready and a set of principles it spells out will be mandatory for all public and private sector companies and banks, which are listed in the exchange stock.
In his words, others will have to either comply with the code or explain why it can not applicable to their company.
Nerses Yeritsian said the corporate management code is not a tool of punishment of companies. He said it allows the business to realize its possibilities, to enter a dialogue with the government for increasing its transparency, raise its efficiency, which in the long run will result in new investments. He said the goal of code is to protect the interests of small and medium shareholders, to raise the efficiency and transparency of companies performance. -0-
