TEMPO.CO, Jakarta – Head of the National Development Planning Agency (Bappenas) Bambang Brodjonegoro said that transparency of beneficial ownership of companies that receive benefits or economic activities would increase investor confidence. “If someone is investing in mining, it must be clear who owns it, which company is the owner, and the name of the owner,” said Bambang at the Fairmont Hotel, Central Jakarta, Monday, October 23, 2017.
A total of 52 delegates from the Extractive Industries Transparency Initiative (EITI) members attended the Global Conference of Beneficial Ownership Transparency in Jakarta. They were here to discuss Beneficial Ownership transparency from economic activity. This conference is part of a broader corruption eradication agenda. The broader corruption eradication agenda includes money laundering, terrorism financing, state revenues from taxation, extractive industries, and investment.
Read: Transparent Cinema Entrepreneurs Get Incentives
Besides, this meeting is part of the national economic development priorities. “EITI encourages countries that have natural resources, such as Indonesia as well as Asian and African countries, to implement transparency,” said Bambang at the Fairmont Hotel, Central Jakarta, Monday, October 23, 2017.
Bambang said Indonesia had pushed for a better data system. These data include the Beneficial Ownership database, interfacing data, and data on natural resources.
Also, financial data are revamping with tax data. The government has also promoted one data, one map policy. “Good data is a prerequisite for accelerating the use of evidence-based policy in policymaking and development priorities,” said Bambang.
Bambang said that investor confidence also depends on the availability of accurate data. This data is related to the Beneficial Ownership and control structure of a public company.
Furthermore, Bambang stated that the government would continue to increase public awareness and collaborate with civil society. It is done by utilizing information technology as a link between government policies and public aspirations. “So that the government is not only transparent, accountable, and innovative, but also collaborates with the community effectively and responsively.”