"Commerce": 61% achievement rate for governance implementation

The Ministry of Commerce and Industry issued a decision yesterday to establish a Corporate Governance Team, chaired by the Undersecretary and comprising directors of relevant departments and specialists in governance programs, as part of the Ministry’s follow-up on the implementation of the National Corporate Governance Program in coordination with the Civil Service Bureau. In a statement to KUNA, the Ministry said the formation of the team complements its efforts to strengthen the concepts and principles of governance, achieve administrative development and institutional excellence targets, and enhance the quality of government performance. It noted that the implementation rate of governance within the Ministry reached 61% in 2025, an increase of 8 percentage points compared to 2024. The Ministry reaffirmed its commitment to raising the implementation rate to 80% during 2026 and 2027 by further developing institutional capacities, intensifying training programs aimed at enhancing employees’ skills in applying governance principles, and establishing a clear regulatory framework that supports the strengthening of governance principles. It added that the team aims to promote a culture of corporate governance within the Ministry by raising awareness of its principles across all its sectors, enabling active participation through involving employees and relevant stakeholders in decision-making processes, and fostering a collaborative work environment that contributes to improving institutional performance. The Ministry clarified that the team seeks to ensure the sustainability of governance practices by developing flexible and updatable institutional policies and procedures that keep pace with future changes and support continuous improvement.