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7. State-Owned Enterprises

Andorra has 35 state-owned enterprises (SOEs) associated with health, social services, and energy and telecommunication, which are generally allowed to compete with private enterprises without restriction.  The only exception is the government-owned Andorra Telecom, which has enjoyed a monopoly on the telecommunications industry since 2015.

The Andorran public sector is made up of the central Administration and seven local administrations, one for each of the country’s seven parishes.  The public sector employs 11.6 percent of Andorra’s workforce, or approximately 4,377 employees.

Privatization Program

Andorra has no current plans to privatize any of its SOEs.

8. Responsible Business Conduct

Local enterprises follow generally accepted accounting principles and the Government has taken some measures to promote responsible business conduct, including Law 35/2008, which establishes a protocol for acknowledging companies that excel in their human resource policies, especially regarding non-discrimination and equal opportunities for men and women.

Over the years, the Andorran banking sector has been consolidating its voluntary responsible business conduct practices, mainly through their foundations.  Rather than focus on a due diligence approach to lower risks, as promoted by international guidelines such as the OECD Guidelines for Multinational Enterprises or UN Guidance on Business and Human Rights, the banking sector initiatives reaffirm their commitment to the country through ad hoc projects in a variety of areas like culture, sports, solidarity, education, and the environment.

Investment Climate Statements
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U.S. Department of State

The Lessons of 1989: Freedom and Our Future