REPUBLIKA.CO.ID, JAKARTA — The Indonesian government is committed to combating corruption in various fields and preventing money laundering by eradicating violation of beneficial ownership by companies, National Development and Planning Minister Bambang Brodjonegoro stated.

“One of our commitments is to eradicate violation of beneficial ownership by companies and enhancing transparency in economic activities,” he noted during an opening event of the Global Conference on Beneficial Ownership here on Monday.

Brodjonegoro emphasized that transparency in beneficial ownership is an inter-sectoral strategic issue that needs to be addressed to eradicate corruption, money laundering, terrorism funding, and violation of fiscal and state revenue.

Transparency is also crucial in the natural extractive industry that has a global standard called Extractive Industries Transparency Initiatives (EITI), and Indonesia had joined the EITI in 2007.

In early 2017, Indonesia, as a member country, had published a road map on transparency in beneficial ownership that was prepared in accordance with the presidential regulation on transparency on central and regional revenue.

The government has set a target to publish comprehensive data on beneficial ownership, including the name, address, and citizenship status of individuals or groups, which control extractive companies in Indonesia, in an EITI report by the end of 2020.

“We realized the need to maintain data of beneficial ownership, natural resources, mapping, and fiscal to accelerate the evidence-based policy mechanism for development,” Brodjonegoro noted.