Transparency in business essential

Given the fact that the absence of corporate governance is one of the reasons our economy has gone bankrupt, making our businesses sound and transparent is an important precondition for restoring our national economy. It is not only the government that must be clean, business players too must possess credibility.

For certain it will not be easy to meet this need for transparency, but this new era demands that businesses are managed professionally and stay away from engaging in collusive and nepotistic practices. There is no other choice for Indonesian businesses if they intend to join the world of professional enterprise.

A decree issued by the minister of trade and industry requiring businesses to submit yearly financial reports is an indispensable policy measure and must therefore be honored and observed by everyone concerned. We have no desire to have a repeat of this economic crisis, which was caused by the absence of transparency in our business management. It is true that business expansion in past years has contributed to the absorption of a good part of our labor force, but the dear cost of such uncontrolled expansion has been all-encompassing. It absorbed labor, but it also brought about a decline in ethical standards and in our observance of the law.

-- Bisnis Indonesia, Jakarta