The government is one of Sweden’s major company owners. The 63 government-owned enterprises employ 200,000 people, reaching a turnover in excess of SEK 280 billion. The total share value of these companies is estimated at approximately SEK 500 billion, compared with that of Sweden’s second-largest portfolio owner, Investor, which amounts to SEK 89 billion. Previously, the government rendered account of its ownership of companies in the form of an annual report only published as a statement to the Swedish Parliament. Now the Swedish Government Offices has decided to publish both its own quarterly reports and to make the annual report more exhaustive. These are definitely steps in the right direction. In this analysis, we will discuss the changes made to improve government ownership and to improve transparency. We will take things one step further and ask whether municipalities would not stand to gain from following suit. Greater transparency with regard to municipal ownership may increase a municipality’s competitiveness vis-à-vis other municipalities. A further important aspect is that greater transparency may also help to stimulate private enterprising.