Portuguese businesspeople meet in East Timor to assess investments

20 February 2006

Dili, East Timor, 20 Feb – Portuguese businesspeople are taking part in a conference Wednesday in Dili organized by the East Timor authorities about investment opportunities available in the country, Timorese prime minister Mari Alkatiri said Saturday.

The conference, which coincides with an official visit by outgoing Portuguese president, Jorge Sampaio to East Timor, will include Portuguese businesspeople such as Carlos Monjardino, from Fundação Oriente, Fernando Gomes, of GALP Energia, Rui Nabeiro, of Delta coffee, Álvaro Roquete, from Portugal Telecom, Rui Palma, of Edinfor, João Correia Pinto, of Caixa Geral de Depósitos, and António Couto, from ENSUL.

The meeting will also be attended by Macau gaming magnate Stanley Ho, who has economic investments in East Timor and plans to expand them.

In a May 2002 donator’s conference, the Timorese authorities garnered international funding totaling US$90 million.

Portugal provided a three-yearly donation of US$9 million, with the project’s coordination carried out by the Transitional Support Strategy, of the World Bank.

East Timor is currently the main destination for Portuguese bilateral cooperation.

Between 1999 and 2005, Portugal financed development projects to a total accumulated value of around US$200 million.(macauhub)