Our mission is to improve the governance and transparency as well as to boost competitiveness, entrepreneurship, and sustainability in the private, non-profit, and public sectors by engaging the next generation of leaders and the trainers of those future leaders and by positively influencing regulations and legislation.
Overview
The G&T Committee engages leading stakeholders in the private, public and not-for-profit sectors, including academia, business leaders, entrepreneurs, government, and other players by promoting best practices in the areas of Governance, Transparency, Integrity, Ethics and Entrepreneurship. The Committee also seeks to promote entrepreneurship and innovation, and the discussion of integrity issues that will help foster a responsible future generation of leaders in Hungary and improve Hungary’s global competitiveness.
Private Sector & Government Engagement
The Committee engages in monitoring and commenting on new legislation, regulations and policies from the perspective of best governance practices. The Committee regularly sends position statements and specific recommendations to legislators, cooperating with other AmCham Committees and Working Groups. As examples, advocacy is underway for the government to permit investors to use of more flexible financial instruments such as convertible debt and for clearer rules for the treatment by the courts of association and foundation legal forms. The former example is coordinated with other interested professional organizations. The Committee also drives its own projects to promote best practice governance.
For example, in autumn 2022, the Governance and Transparency Committee prepared and published a short Hungarian translation of the Corporate Governance Guidance and Principles for Unlisted Companies in Europe, New Edition by the European Council of Directors’ Association (ecoDa) to increase the awareness of Hungarian SMEs of latest corporate governance principles.
Partnership with Academia
The G&T Committee continually builds on its direct dialogue with academia and seeks to facilitate business-university cooperation and encourage innovation and its regulation in a best practice manner. The Committee also seeks to provide professors teaching content with real world-based yet local case studies that are used to educate the next generation of Hungarian leaders. As one example, the Board Simulation case study series is presented at Hungarian universities with each case choreographed as a fictive board meeting. These cases address a wide range of real-life Corporate Governance questions. Around 1100 students and 6 universities in Hungary and 2 abroad have been reached through this program. The Committee is also exploring how best to promote the best practice governance of innovation and to facilitate a more globally competitive academic sector in Hungary in basic and applied research and development.
Governance & Transparency Committee Chair:
- László Czirják, Partner, iEurope
