Faculty of Economics and Business (FEB), Universitas Sebelas Maret (UNS), in collaboration with the Central Java Provincial Office of Financial and Development Supervisory Board (BPKP), organizes a Workshop on the Implementation of Governance for Regional-Owned Enterprises (BUMD) at UNS Tower. Organized on Monday, 3 November 2025, the workshop brings together Directors and Supervisory Board members from 32 Regional-Owned Enterprises across Central Java, including regional drinking water companies and province-level enterprises. The workshop aims to reinforce the implementation of Good Corporate Governance (GCG) principles in BUMD management and to support enhanced accountability and professionalism in regional enterprise operations.

The Dean of FEB UNS, Prof. Bhimo Rizky Samudro, S.E., M.Si., Ph.D., states that the program forms part of a long-term collaboration between FEB UNS and BPKP established over recent years. The collaboration includes training programs, joint research, and the development of partnership-based classes involving lecturers and practitioners. “This collaboration brings significant benefit not only to BPKP but also to FEB UNS. This workshop is a concrete step in strengthening synergy between the academic environment and supervisory institutions to support more effective and precise BUMD governance,” Prof. Bhimo explains.

He also expresses hope that the outcomes of the workshop will contribute meaningfully to improving BUMD governance in Central Java, ultimately supporting regional development.

The Head of the Central Java BPKP Provincial Office, Buyung Wiromo Samudro, S.E., MBA., explains that the workshop is part of the 2025 evaluation study on the effectiveness of Good Corporate Governance implementation in BUMD. He affirms that GCG is essential for every BUMD in conducting its business operations. The principle is also mandated in Government Regulation No. 54 of 2017 on BUMD, serving as a foundation for building professional, transparent, and integrity-based governance.

“Ensuring effective implementation of GCG requires commitment from regional leaders so that the principles of good governance are internalized across all corporate organs, from the supervisory board and directors to staff members,” Buyung states.

Buyung further notes that BPKP has carried out GCG assessments in three BUMD in Central Java—Surakarta, Demak, and Sragen. The assessments aim to ensure that corporate governance principles are implemented in accordance with regulations and support public value creation. He also shares that BPKP’s attention to corporate governance began in the late 1990s, when the institution formed a special GCG task force to strengthen governance in state-owned enterprises before expanding its focus to regional-owned enterprises, which have their own distinct characteristics and challenges. “BUMD plays a strategic function not only as business entities but also as agents of regional development. Therefore, synergy with academic institutions such as UNS is important to develop governance methodologies and evaluations that suit regional needs,” he explains.

On this occasion, the Vice-Rector for Planning, Collaboration, Internationalization, and Information UNS, Prof. Irwan Trinugroho, S.E., M.Sc., Ph.D., QCRO., expresses appreciation to BPKP for its trust in UNS. He emphasizes that UNS places strong emphasis on strengthening governance and integrity within public institutions through research, education, and community engagement. Prof. Irwan states, “This collaboration has been long-standing, involving joint research, outreach programs, and BPKP staff development at UNS. This workshop represents a concrete form of synergy between academics and practitioners in strengthening governance for public institutions and regional corporations.”

He further highlights that improved governance will align positively with the performance and contribution of BUMD to regional development. “When BUMD has good governance, their performance improves, public services are enhanced, and eventually they contribute positively to regional revenue and community welfare,” he adds.

The workshop, presented by resource persons from BPKP and FEB UNS, concludes with a Focus Group Discussion (FGD) session on strategies for achieving effective governance implementation in BUMD. Through this forum, participants are expected to obtain practical perspectives and actionable strategies for strengthening GCG in their respective regions.

This collaboration not only contributes to improved BUMD governance but also supports the advancement of the Sustainable Development Goals (SDGs), particularly Goal 16:Peace, Justice and Strong Institutions and Goal 8: Decent Work and Economic Growth, through strengthened institutional capacity and equitable, sustainable economic governance at the regional level.