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The state business sector will be managed and coordinated by an entity to be created after the law respective was approved by the Assembly of the Republic.
The information was provided by the chairperson of the Board of Directors of the State Holdings Management Institute, Ana Isabel Coanai, at the end of a meeting convened to harmonise the legislation of the state business sector.
The source said that the new law establishes that public companies have general assemblies similarly to what happens in those companies with state participation.
“We have just discussed the proposal for the management contract. The management contract will be an instrument that will establish the form of articulation between the board of directors and the [to be established] entity. This agreement may be signed with the members of the board of directors for a term of four years. In order to evaluate performance, we are first introducing another matrix of economic and financial performance that will provide both the entity and the companies with a single platform of the company’s development indicators, which means that once they have taken office, the board must elaborate this matrix establishing the indicators and goals that they would like to pursue during the term of office,” she said.
Coanai assured parliament that the general assembly would not replace the board of directors in public companies.
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