Last week, investors and Saudi Arabia watchers got an eyeful of the massive riches of state oil company Saudi Aramco, which in a prospectus reported USD 111 billion in profits for 2018. But despite their role as custodians of masses of public money, state oil companies are notoriously opaque.
Due to the large sums of money involved, subcontracting carries risks. Procurement deals are less visible and more numerous than the high-profile processes used to award exploration and production rights, and they are harder for government regulators, the media and civil society to scrutinize. They are therefore a common node for corruption.
Addressing the jade sector’s challenges is an urgent need. It is also highly difficult. At the same time, it is an opportunity for the National League for Democracy-led government to signal a new era of accountability.
Each year, the Natural Resource Governance Institute and Gadjah Mada University’s Department for Politics and Government host a residential training course on extractives governance in Indonesia. In 2018, NRGI and partners produced videos covering the course and interviews with course participants.
Yee Mon Oo, a research associate at Myanmar Development Institute and a participant in Advancing Accountable Resource Governance in Asia Pacific, spoke with NRGI about challenges Myanmar state-owned enterprises face and some takeaways from the two-week learning session.