Montenegro has enough knowledge and professional managers who can manage different corporations, it was said at the round table "Corporate management in state-owned enterprises - situation and perspectives".
As announced by the Ministry of Economic Development and Tourism, the round table was held at the Faculty of Economics, as a result of the one-month training "Corporate management in the function of improving the operations of state-owned companies in Montenegro".
The training, with the support of the Ministry, was organized by the Faculty of Economics for members of management and supervisory bodies in majority state-owned companies.
Dean of the Faculty of Economics, Mijat Jocović, said that the environment in which the corporate governance system is being developed in Montenegro and in other transitional countries cannot be considered favorable for its development and competitiveness.
"Inconsistent legal system, insufficiently developed practice of protecting minority shareholders, insufficiently developed judicial system and undeveloped judicial practice, insufficiently professional management, financial operations of companies are often not in accordance with their potential, misunderstanding of company legislation", said Jocović.
He said that, bearing in mind all of the above, the Faculty of Economics launched a four-week training project that aimed to improve the professional knowledge of members of management bodies in majority state-owned companies, but also to draw the attention of the professional public to the importance of this issue .
The Minister of Economic Development and Tourism, Goran Đurović, assessed that the Faculty of Economics must be the pivot of the economy, as well as that the cooperation of his department with that faculty is already bringing concrete results.
He added that knowledge of corporate management is very important "if we want to have serious and good companies".
"It is strategically important that we have as many trained people as possible to tackle such business challenges. Recently, more and more companies are doing better than they used to be, but still not everything is ideal and it can certainly be better," said Đurović .
He assessed that the key lies precisely in corporate governance, adding that such a way of thinking and working makes the difference between developed and underdeveloped countries.
The Vice President of the Chamber of Commerce of Montenegro, Dragan Kujović, said that knowledge, experience and professionalism should be key when choosing people for such responsible positions as management boards.
He said that board members are often under different pressures from institutions and ministries on how to solve a certain problem, adding that people who run companies must make decisions independently and without pressure.
The executive director of the Montenegro Stock Exchange and alumna of the Faculty of Economics, Milena Vučinić, believes that knowledge contributes to good company results, and that the training that is being completed will contribute to the development of corporate governance in Montenegro.
Milan Lakićević, full professor of the Faculty of Economics, said that corporate governance is not an end in itself, but should lead to much more significant results, such as the development of the entire Montenegrin economy, investor protection and the development of the capital market.
As he explained, corporate governance is especially important where the functions of ownership and management must be separated.
Lakićević stated that in Montenegro, 94,8 corporations are micro, and five percent are small enterprises, while medium ones make up one percent and large corporations only 0,2 percent of the total number.
He sees the solution for Montenegrin companies in their expansion beyond the borders of Montenegro, because the system, in order to survive, must grow and develop.
Lakićević said that one of the limitations is that the state wants to administratively influence the management of corporations, but that it is good that this administration is mostly in line with the EU.
"The danger is also managerial greed. The remuneration for the contracted tasks of managing a corporation is such that you have to protect the interests of the corporation you work for, not those you represent on the board", Lakićević pointed out and added that Montenegro has enough knowledge and professional managers who can manage different corporations.
It is stated that the round table was the final part of the one-month training program Corporate management in the function of improving the operations of state-owned companies in Montenegro, which was organized by the Faculty of Economics with the support of the Ministry of Economic Development and Tourism.
"About thirty participants, who today received a certificate of successful completion of the training, were members of the management and supervisory bodies of companies in majority state ownership," the announcement says.
It is added that during four weeks of lectures at the Faculty of Economics, the participants acquired new knowledge and skills in corporate management, accounting, auditing and finance at the lectures of professors from the Faculty of Economics and Law from Podgorica and Belgrade, people from partner institutions, judges and lawyers.
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