Opening the dialogue, Asad Alam, Regional Director, Europe and Central Asia, The World Bank, underscored the pivotal role SOEs play in driving economic growth, mobilizing private capital, and their impact on citizen well-being. He emphasized the importance of understanding the purpose of SOEs, clarifying the functions of state ownership, and articulating a clear value proposition for state involvement. 

Reform Champions 

Three countries at different stages of SOE policy reform offered their perspectives, allowing participants to compare different reform strategies, learn from successes and setbacks, and reflect on approaches relevant to their national contexts. 

Norway is widely recognized as a mature reformer in the field of SOE policy. The Norwegian approach, presented by Kristine Veierland, Senior Advisor, and Margrete Øvrebø, Deputy Director General, both from the Ownership Department of the Ministry of Trade, Industry and Fisheries in Norway, has evolved gradually from informal management to a professional, transparent system. It has a dedicated ownership department and normally updates its SOE policy every four years. Norway’s policy is not a separate law but is supported by political consensus and company law. The government manages 68 SOEs, both commercial companies and companies with public policy goals, and holds boards accountable for goal achievement and meeting expectations. Transparency is ensured through regular reporting and the use of external advisors on for example transactions, while stakeholder engagement remains central to the process.

Egypt has recently undergone significant economic changes and is actively reforming its SOE sector. It highlighted the challenges of transitioning to a more market-oriented framework. Its approach, presented by Osama El-Gohary, Assistant to the Prime Minister, Chairman of the Information and Decision Support Center, has involved broad consultation, benchmarking against international good practices, and the creation of a central SOE unit with strong oversight powers. SOE policy is embedded in law and is expected to be reviewed every three years. Implementation includes a central SOE unit reporting to the Prime Minister, sector-focused divestment, and a commitment to competitive neutrality. Egypt uses dashboards and performance indices to monitor progress and communicate with the public. 

Albania is in the early stages of SOE reform and is actively considering developing a State Ownership Policy to guide future reform activities. It is working on improving governance through amendments to ministerial decisions and exploring both centralized and decentralized governance models. It is seeking to adopt best practices, for example in appointing supervisory council members and integrating innovation and green transition goals into its SOE strategy. Stakeholder engagement and openness to external insights are key features of its evolving approach. 

Addressing core challenges 

The discussion among participants reflected many of the core challenges and decision points faced by countries developing State Ownership Policies to guide SOE reform. Some of the key points which emerged included the importance of beginning reform with clear basic principles for good governance and the rationale for state ownership; establishing clear expectations and implementing key performance indicators to effectively manage multiple objectives; using dedicated units or departments for SOE oversight to increase professionalism and centralize management; handling loss-making SOEs decisively; and levelling the playing field between SOEs and private companies. 

Continuing the dialogue 

The event highlighted the importance of clear and well-developed state ownership policies in supporting accountable, sustainable, and efficient reform of SOEs. The experiences of Norway and Egypt offered valuable lessons in policy development, divestment, governance, and stakeholder engagement, while Albania’s reform journey highlighted both the universal challenges and the opportunities. Participants agreed this useful dialogue reinforced the importance of collaboration and learning in the pursuit of effective SOE reform and welcomed further opportunities to engage in this area.