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SANUR, Bali (JP): The government vows to improve corporate governance in state-owned enterprises (SOEs) in a bid to boost their performance and help ensure successful privatization programs.
The deputy minister for restructuring and privatization at the Office of the State Minister of Investment and State Enterprises Development, I Nyoman Tjager, said the government would issue a new ruling by the end of the month covering corporate governance reform, and a new set of guidelines to ensure a transparent privatization process.
"We realize other countries have been hurt less (by the regional economic crisis) and have recovered more quickly partly because of better fundamentals in corporate governance. That is why the government is committed to improving corporate governance practices in Indonesia," Tjager said at the second Asia Pacific Economic Cooperation (APEC) forum on the privatization program.
Representatives from developed economies under the Overseas Economic Cooperation and Development (OECD) …