A conference on business management organised by the Visegrád Four grouping was held in Budapest on Wednesday.

The event, organised during Hungary's presidency of the Visegrád countries (Czech Republic, Hungary, Poland, Slovakia) was held in view of the OECD's plans to review corporate governance principles issued in 2004.
Minister of State Zoltán Cséfalvay pointed out that thanks to the conference, Hungary and the other V4 countries will be among the first ones to hear about the direction of changes and to put forward their recommendations.

These countries are economically open and if new rules are able to strengthen security further this would help draw more foreign capital to the region, he added.

Mr Cséfalvay noted that management problems such as short and long-term interest coordination, transparency and risk awareness, as well as insufficient information flow, were all factors leading to excessive risk taking which played a role in the emergence of the crisis in 2008. A good company management system can help prevent crises and build stable foundations to stimulate growth in Europe, he added.

(Ministry of National Economy)