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 With this new approval, the country
completes 19 of the 22 evaluations it must pass to
become a member of the international organization
known as the OECD during the first half of 2020.
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 - Published: Thursday, February 13, 2020 - By the A.M. Costa Rica staff The Organisation for Economic Co-operation and Development said Wednesday that the country was approved by its Competition Committee after concluding evaluation of the law and competition policy of Costa Rica and, specifically, on the adoption of the recommendations to approach the organization's standards in this matter. With this new approval, the country completes 19 of the 22 evaluations it must pass to become a member of the international organization known as the OECD during the first half of 2020. According to the Ministry of Economy, the approval of Law No. 9736, entitled Strengthening of Competition Authorities of Costa Rica, was one of the main recommendations of the OECD regarding competition policy. The approval of this law, together with other administrative reforms, improves the legal and institutional framework of some public institutions with the goal of benefiting consumers to allowing them to access more variety and better quality of goods and services, to the best prices, lawmakers said at the time. "This result recognizes the country's commitment to a stronger and more modern institutionality in its control and supervision capacities in the field of competition," said Victoria Hernández, minister of Economy, of the approval. In November the Corporate Governance Committee of OECD approved the requirement on corporate governance for Costa Rica. According to the ministry, the OECD valued the country's progress in implementing a series of recommendations to approach its standards in two areas: - Principles of corporate governance of the OECD and the G-20 international government forum. - OECD guidelines on the corporate governance of state-owned companies, known as EPEs. Based on the recommendations to comply with these two issues, an action plan was prepared by the financial superintendencies. The Ministry of the Presidency since 2016, has been making a series of actions to comply with the OECD Guidelines on Corporate Governance of State-Owned Enterprises. Those focused on three areas: - Coordination between the state and its companies. - Transparency and accountability of the EPEs. - Professionalization of the boards of directors of the EPEs. According to the ministry, the OECD's mission is to promote policies aimed at improving the economic and social well-being of people around the world. It provides a forum where governments share experiences, develop public policy and jointly seek solutions to common and global problems. Last April after an evaluation of key areas of public administration, the OECD granted a formal opinion on the entry of Costa Rica into that organization. Among the main achievements recognized by the organization are the advances in fiscal matters and public employment. The evaluation process led by the Ministry of Planning and Economic Policy began in 2015 when a study on public governance in Costa Rica was published. That report, in addition to making a diagnosis, provided a series of recommendations in different areas such as: management capacity and coordination of the government center, monitoring and evaluation, public budgets, public employment, regional development and integrity policies in public procurement. According to the ministry, the approval and implementation of the law to strengthen public finances was key to achieving this goal, particularly by providing tools to improve the efficiency of spending on specific salaries and destinations and establishing a clear fiscal rule that allows doing more with the same resources. With respect to the employment of the public sector, administrative measures were implemented to contain spending and regulations that regulate the remuneration of employees, which seek standardization in the salary system. Additionally, it was defined from the rectory of public employment in the Ministry of Planning, and the creation of a performance evaluation system. Costa Rica began its formal process of joining the Paris-based OECD in 2015. ------------------------- In which other international organizations should Costa Rica be included? We would like to know your thoughts on this story. Send your comments to news@amcostarica.com |
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