Mar 19 β€’ 12:29 UTC πŸ‡΅πŸ‡± Poland Rzeczpospolita

Wojciech Balczun: The definition of 'local content' in the coming weeks

Poland's Minister of State Assets, Wojciech Balczun, discusses the initiatives related to corporate governance and the importance of 'local content' for the economy in an upcoming interview.

Wojciech Balczun, the Minister of State Assets in Poland, highlights the government’s efforts to enhance corporate governance among state-owned enterprises. He indicates that one of the key initiatives for the latter part of the governmental term includes the establishment of competency standards in public companies, as well as the creation of a competency matrix and a code of good practices to be implemented. Balczun believes that proper governance is crucial for these corporations, especially given their significant role in the Polish economy.

In his comments, Balczun also emphasizes the importance of the 'local content' initiative, which aims to promote the utilization of domestic resources and expertise in public sector projects. This initiative is intended to ensure that public investments not only benefit the economy but also strengthen local industry and labor markets. As he explains, while social perceptions often point to deficiencies in governance, he has found that larger public companies have better compliance with standards than what is typically assumed.

Additionally, Balczun addresses the challenges that arise from the state's involvement in public companies, pointing out the need for competent management and oversight in order to navigate the complexities of corporate governance. He acknowledges that the ministry has conducted thorough analyses of the resource profiles within supervisory boards of major companies, aligning them with the ministry's guidelines. This proactive approach is aimed at improving governance and increasing overall efficiency and performance in the public sector, thereby benefiting the Polish economy in the long run.

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