Transparency in business essential

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