VKC assessed the implementation of VIPA Strategy for 2021 at 100 %
Each year, the Public Institution Valdymo koordinavimo centras (VKC) (Management Coordination Centre) prepares summary reports on the implementation of the operational strategies of state-owned enterprises (SOEs). In 2021, companies operating in the financial sector were the most successful in achieving their strategic objectives. VKC assessed the implementation of the Public Investment Development Agency’s strategy at 100% and concluded that VIPA achieved shareholder expectations, positive EBITDA and adequately met all financial and non-financial objectives and goals.
Last year, the achievement of the financial objectives and goals set out in the VIPA’s strategic activity plans was around 68% (compared to 73% in 2020), and the achievement of non-financial objectives and goals was 81% (compared to 73% in 2020). The assessment of the year 2021 is based on the reports on the implementation of individual strategies of 40 companies.
Bothe the financial and non-financial objectives and goals set by the financial sector SOEs were met by 87%. In addition to VIPA, the Public Institution Indėlių ir Investicijų Draudimas (Deposit and Investment Insurance) also received the highest assessment of 100% for the implementation of the strategy, while UAB Investicijų ir verslo garantijos received a high assessment of 94%.
“VIPA always pays special attention to strategic planning. In addition to financial goals and expectations, we take into account the ambitious goals of the greening of the European Union and the Lithuanian economy, combating climate change and creating a cleaner and healthier environment. We continuously set ourselves the goals of increasing customer and partner satisfaction and becoming a recognised partner both nationally and internationally. We are pleased that our efforts are being recognised, but it is also important to note that joint action by all institutions is crucial to achieving the strategic goals of the state”, says Gvidas Dargužas, Director General of VIPA.
The reports on the implementation of strategies of SOEs were assessed considering such indicators as the quality of the information provided, proper reflection and achievement of the financial shareholder’s expectation for profitability, the achievement of other financial goals and objectives and of non-financial goals and objectives.