Deltec International Group on Tuesday released an update on the status of state-owned enterprises (“SOEs”). According to the update, SOEs exist when governments deem them necessary for their respective economies or when companies owned by private shareholders cannot meet the demands of the public. As detailed in the update, “Regardless of whether an SOE is a proven success or failure, it is generally assumed to be inefficient, mismanaged and/or corrupt due to the lack of an inherent need to generate an attractive return on equity (i.e., an explanation as to the benefits of investing in it). In 2005, the Organization for Economic Cooperation and Development (“OECD”) published guidelines for effective corporate governance; in 2019, they published further guidelines dedicated to fighting corruption and maintaining integrity. There are clear SOE success stories, such as Saudi Aramco, but the trend is to privatise, transferring all or partial ownership from the public to the private sector.”
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About Deltec International Group
Deltec International Group is a diversified independent financial services group that provides, through its member companies, a range of private banking and fiduciary expertise, fund administration, investment management, digital asset financial services, insurance solutions, and corporate and merchant banking capabilities. Deltec Bank & Trust is the flagship company of Deltec International Group, serving the unique needs of global private, corporate and institutional clientele. For further information, please visit www.DeltecBank.com.
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