(a)

• Management of state interests. SOGA is responsible for managing and coordinating the interests of the Government of Zamora in SOEs, joint ventures, and other state-owned entities. It oversees the strategic direction, performance, and accountability of these entities to ensure alignment with government policies and objectives.
• Governance and compliance. SOGA promotes good governance practices within SOEs and other state-owned entities. It develops governance frameworks, codes of conduct, and policies to enhance transparency, accountability, and integrity in their operations.
• Financial oversight. SOGA provides financial oversight of SOEs and other state-owned entities to ensure efficient use of resources and compliance with financial regulations. It monitors financial performance, budgetary control, and adherence to financial reporting standards.
• Policy development. SOGA contributes to the development of policies and guidelines related to state-owned enterprises and public sector governance. It provides advice and recommendations to government policymakers on matters concerning state interests and governance.
• Capacity building. SOGA undertakes capacity-building initiatives to enhance the skills and capabilities of SOEs and their personnel. It provides training programs, workshops, and technical assistance to improve governance practices, financial management, and performance.                                                                                                                                                                                                                                                                                                                                                                                                        (b)
• Strengthen governance and oversight role of SOE. This may be achieved through establishing clear objectives and performance targets and ensuring independence of boards of directors with private sector expertise. SOGA should also ensure transparency and accountability through regular audits and reporting.
• Provide a framework for professional management. SOGA should ensure appointment of professional CEOs and managers based on merit and foster a culture of performance-oriented management.
• Making SOEs autonomous and adaptable. SOGA should grant operational autonomy to the SOEs to facilitate swift decision-making and also allow flexibility in hiring and compensation to attract top talent.
• Performance-based incentives. SOGA should introduce performance-based incentives for employees and management and align incentives with achieving strategic objectives.
• Competition and market orientation. SOGA should create a competitive environment for SOEs to operate and competition to drive efficiency. It must also create a market-oriented mindset for the managers of the SOEs.