IFC-Bapepam Launches Good Corporate Governance Prgram

Jakarta - The International Financial Corporation (IFC), along with the Capital Market and Financial Supervisory Agency (Bapepam-LK) and National Committee on Governance (KNKG), has launched a new Good Corporate Governance programme here. "The programme aims at helping Indonesian companies improve their competitiveness and financing access with improved transparency in their business operations," IFC senior operations officer for corporate governance for East Asia and the Pacific, Juan Carlos Fernandez, said Tuesday. He added that the programme would provide advice to companies on implementation of good corporate governance practices, while working with government agencies to improve the regulatory framework. It would also assist educational institutions, providing them with training and raising public awareness. "IFC's experiences show good corporate governance leads to better business," he said. According to IFC country manager for Indonesia Sarvesh Suri, the country is now contributing significantly to the global economy."With such a background, Indonesian companies have to compete with companies in other developing countries, not only for its market share but also in terms of capital," said Sarvesh. Sarvesh Suri underlined the importance of good corporate governance which, in turn, would increase investor confidence in Indonesia and the corporate world in general. "Good corporate governance is important in enhancing investor confidence in Indonesia," he added.(*)