Corporate governance and corporate finance

Asia-Pacific Network on Corporate Governance of State-Owned Enterprises


In focus

Meeting of the Asia-Pacific Network on Corporate Governance of State-owned Enterprises | 8-9 December, 2022 | Jakarta, Indonesia.

» Meeting document: State-owned holding companies (background note)

The OECD has organised the 15th Network’s meeting in-person, jointly with the Ministry of State-Owned Enterprises of Indonesia (BUMN) with support from the Korea Institute of Public Finance (KIPF) and Asian Development Bank (ADB).

The meeting took stock of the recent developments of SOE reform related to ownership practices, privatisation and corporate governance in select participant countries relative to the SOE Guidelines, including the host country – Indonesia. It also featured topical sessions focussing on:

  • governance of state holding companies
  • good practices on anti-corruption and business integrity
  • climate change and low-carbon transition policies in state-owned enterprises.
A consultation session for the forthcoming revision of the SOE Guidelines concluded the meeting.

About the network

Better corporate governance of state-owned enterprises is key for economic growth and competitiveness in Asia-Pacific. In many Asia-Pacific countries, state-owned enterprises (SOEs) are still significant economic players. Ensuring they operate efficiently, transparently and on equal footing with private companies is crucial for economic growth and competitiveness.

The OECD Asia-Pacific Network on Corporate Governance of State-Owned Enterprises, provides a forum for government representatives and relevant non-governmental stakeholders from 22 economies in the region to share experiences, identify good practices and develop recommendations for reform to improve state ownership practices and strengthen the OECD Guidelines on Corporate Governance of State-Owned Enterprises. First established in 2006 and then relaunched in 2015 with the support of the government of Korea, the network serves to:

  • Raise awareness of the importance of sound corporate governance of SOEs and related challenges among relevant constituencies;
  • Evaluate current SOE corporate governance policy frameworks and practices, benchmarking them against international good practices as described in the OECD Guidelines on Corporate Governance of SOEs;
  • Support viable and effective reforms in the area of SOE corporate governance, by identifying common challenges related to state-owned enterprise ownership and governance, discussing and analysing policy options, developing relevant recommendations and agreeing on reform priorities;
  • Issue topical studies on SOE governance and reform comparing the practices of participating countries based on questionnaire-based exercise and discussions at Network meetings.
Recent publications

Responsible Business Conduct in the SOE Sector in Asia

Stocktaking of National Practices (2022)

Transparency frameworks for state-owned enterprises in Asia‌‌ (‌2020)


Other publications  

Main Participants


 Participating Institutions

Australia Department of Finance 
Bangladesh     Ministry of Finance
Bhutan Ministry of Finance, Druk Holding and Investments (DHI)
Cambodia Securities and Exchange Commission of Cambodia
China State-owned Assets Supervision and Administration Commission of the State Council (SASAC)
Fiji Department of Public Enterprises


Department of Public Enterprises, Ministry of Public Enterprises and Heavy Industry, Institute of Public Enterprise (IPE)
Indonesia Ministry of State-Owned Enterprises, National Committee on Governance, Coordinating Ministry for Economic Affairs, Institute for Democracy and Economic Affairs, Malaysian Directors Academy, Malaysian Institute of Corporate Governance, Minority Shareholder Watchdog Group
Japan Financial Services Agency, Ministry of Finance
Kazakhstan              Ministry of Finance, Samruk-Kazyna
Korea Korea Institute of Public Finance, Ministry of Economy and Finance, Korea Development Institute
Lao PDR Lao Securities Commission Office

Ministry of National Planning and Economic Development, Khazanah Nasional Berhad, Institute for Democracy and Economic Affairs, Malaysian Directors Academy, Malaysian Institute of Corporate Governance, Minority Shareholder Watchdog Group

Mongolia Mongolian Government Agency for Policy Coordination on State Property
Myanmar Directorate of Investment and Company Administration, Ministry of National Planning and Economic Development
New Zealand The Treasury 
Pakistan Ministry of Finance, Pakistan Institute of Corporate Governance
Philippines Governance Commission for Government Owned or Controlled Corporations (GCG)
Singapore Temasek International Pte Ltd, Singapore Institute of Directors

Chinese Taipei        

Corporate Governance Research Center, National Taipei University of Business


State Enterprise Policy and Planning Bureau (SEPO), Ministry of Finance, Corporate Governance Department, Securities and Exchange Commission of Thailand

Uzbekistan Ministry of Finance
Viet nam Commission on State Capital Management, Ministry of Finance, Ministry of Planning and Investment
Partner organisations Asian Development Bank, World Bank


Past meetings



For further information, contact Chung-a Park ([email protected]) or Henrique Sorita Menezes ([email protected]).



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