Asian Devt Bank workshop to boost governance & performance of directors of Vanuatu’s state-owned enterprises

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The directors of Vanuatu’s state-owned enterprises (SOEs) are participating in a two-day training workshop by the Asian Development Bank in an effort to boost the sector’s governance and performance. Vanuatu’s SOEs have weighed on the country’s economic performance in recent years. Between 2008 and 2012, government equity in eight of 11 SOEs fell from Vt2,840 million to just Vt851 million—a decline of 70%.  And while SOEs represent 17% of the Vanuatu Government’s total net assets, they paid just 0.05% of net assets in dividends back to government, according to the most recent data (2012).

Read the story in the ADB website.

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