The government of Timor-Leste (East Timor) has approved creation of a specialised investment agency, according to a statement on the Council of Ministers meeting of 17 September published Wednesday in Dili.
The specialised investment agency, called “Invest Timor-Leste” will be responsible for promoting private investment and exports in the country.
“This will be the body responsible for issuing investor certificates and will process foreign investment projects in the country,” the official statement added.
The government of Timor-Leste, through various ministries, has called for more foreign investment to create jobs and help develop a strong economy and diverse private sector.
Since 2007 Timor-Leste, which has a population of just over 1 million, has posted average non-oil GDP growth of 10 percent per year. (macauhub/TL)