Consultation Conference Corporate Governance

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The Minister of Transport, Integrity, Nature and Senior Affairs, Ursell Arends, has called on public and semi-public sector entities to register for a unique consultation conference held at the University of Aruba on coming November 3 and 4.

Both days are devoted to the new legislation in the field of corporate governance. During a press conference, the Minister indicated that good corporate governance is an essential prerequisite for the optimal functioning of these entities. The draft by legal adviser Carlos Guiamo, LLM, includes an explanation of the National Ordinance.

Cabinet Wever-Croes II’s goal is to strengthen the corporate governance practice in the public and semi-public sectors within the shortest time possible as per internationally recognized best practices. The Minister and the chairman of the Corporate Governance Committee, Mr. Jossy Laclé, appealed to the stakeholders to participate in the upcoming consultation conference.

Good corporate governance requires effort from the community. That is why the government considers the support and input from the stakeholders of great value. That is also one of the reasons the government consults stakeholders about the National Ordinance in the draft and the Corporate Governance Code. Moreover, a higher degree of participation is in line with the vision of the Ministry of Integrity.

In addition to the stakeholders involved, students are also allowed to participate in this unique consultation conference.

The introductory process takes explicit account of Aruba’s unique circumstances, such as limitations in resources and capacity at the entities and the small scale of society. The goal is to take joint steps toward excellent corporate governance. Based on this vision, the government established the Corporate Governance Committee in May 2020. Its task is to advise and support the government in implementing a new legal framework for corporate governance. In doing so, it relies on the framework already developed by the Central Bank of Aruba. The draft National Ordinance and the Corporate Governance Code are its latest products. Stakeholders now have the opportunity to review the design and provide feedback before officially introducing them into the legislative process.

Registration is possible via an email to l.lohuis@themis-institute.org tating the name, position, telephone, and email address of the participants. When they reach the maximum capacity, the number of participants per entity within the sectors can be limited. If necessary, they will repeat the congress.

For more information, contact the secretary of the Corporate Governance Committee, Dr. Hellen van der Wal, LLM., via wabcadvies@gmail.com

Participation in the conference is free of charge.