Based on the need to increase economic efficiency and investor confidence, "Electric Networks of Armenia" CJSC has initiated the development of corporate governance of the company from the beginning of 2018. According to the company's press service, the requirements for corporate governance codes both in Armenia and in the UK were the basis for improvement.

"While highlighting the need for each of the universally recognized standard and principle of corporate governance (Justice, Accountability, Transparency,), the Company has identified four key priority areas for corporate governance improvement: the creation of an internal legal framework that will regulate the activities of governing bodies, and making the most important decisions as the interests of the shareholders; the Company's Board of Directors continuous improvement, which outlines the company's long-term strategy and its implementation disclosure of information about the company and its management by providing an appropriate level of transparency, maintains regular contacts with shareholders, ensuring the protection of their rights and legitimate interests.

In order to address these issues, the Company has been involved as an adviser in the International Finance Corporation (IFC) and implements all necessary measures to implement an effective corporate governance system. This will essentially increase the reputation and attractiveness of the company among potential investors, international institutions, financial institutions and government agencies, "the report said.

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