MINSK, 14 December (BelTA) – International experts have started providing consulting aid to specialists of the Belarusian road construction and maintenance company Belavtodor for the sake of improving corporate management, BelTA learned from Yuri Trich, Head of the State Property Reformation Department of the State Property Committee of Belarus.
The work proceeds in line with the memorandum signed by the Belarusian government and the European Bank for Reconstruction and Development (EBRD) in 2017 with a view to improving the system of management of state enterprises. The EBRD arranged a tender to choose consultants on strategy and legal affairs. The international company Civitta and the UK company Nestor Advisors were chosen as a result. Their experts will help implement the world's best practices, including by means of developing a corporate code and setting up committees on audit and human resources under the supervisory board of the Belarusian company.
Belavtodor has already assimilated some corporate management components. In particular, a supervisory board has been established and now includes independent directors. International experts have inspected the company's enterprises and have come up with the first few proposals on their future development. The active phase of implementation of the Belarus-EBRD memorandum has begun. The consultants suggest adjusting the structure of the holding company Belavtodor a bit. Some of the functions they have found can be optimized.
The project will give a lot of practical experience, which can be used later to introduce modern management technologies in other Belarusian companies, too. The modern corporate administration system is expected to have a positive effect on their performance and make them more appealing to investors.
The holding company Belavtodor comprises 13 road construction and maintenance enterprises, bridge construction enterprises, industrial and transportation enterprises. Belavtodor is governed by the general meeting of shareholders, the supervisory board, and the director general as the executive body.
