Foreign businesspeople invited to invest in Timor-Leste

6 June 2016

The Minister of Planning and Strategic Investment of Timor Leste (East Timor), Xanana Gusmão, Sunday in Dili invited businesspeople and foreign investors to focus on the opportunities in the country.

Speaking at the welcome ceremony of an international conference on investment in Timor-Leste, which brings together more than a hundred people in Dili Monday and Tuesday, Gusmao stressed that the government has been laying the foundations to attract investors.

“The economic development of Timor-Leste is a national priority and with the membership of the Association of Southeast Asian Nations (ASEAN) on the horizon, Timor-Leste is working to create a solid foundation for its sustainable development,” he said, quoted by Portuguese news agency Lusa.

The government, Gusmao said, continues to prepare to set up a national investment bank to complement international investments to “help create a local base of local partners at this crucial stage of (the country’s) development”.

According to a statement from its organisers, the Timor-Leste International Investment Conference aims to promote the potential of the country to foreign investors in sectors as diverse as oil and gas, mining, coffee and agriculture, tourism, transport and construction, among others. (macauhub/TL)