13 September 2016
A meeting of the Timor-Leste (East Timor) cabinet Ministers authorized the Ministry of Finance to start the process of joining the Asian Investment and Infrastructure Bank (AIIB), according to a press release published on the official government website. The AIIB, based in Beijing, was established in December 2015 following a proposal from China, which is the largest shareholder of the bank. The financial institution started operating in January this year.
8 September 2016
8 September 2016
The legal recovery plan presented by the board of Brazilian telecommunications group Oi includes the sale of shares previously held by Portugal Telecom in Angola, Cabo Verde (Cape Verde) and Timor-Leste (East Timor), the Portuguese press reported. The plan was approved by the board of Oi, but has yet to be approved by the judge responsible for bankruptcy proceedings and to be negotiated with creditors as it involves a debt of 65.4 billion reais (US$20.4 billion).
6 September 2016
28 July 2016
Twenty-five executives and technicians from the traditional medicine sector in Brazil, Cabo Verde (Cape Verde), Guinea-Bissau, Mozambique, Portugal and Timor-Leste (East Timor) took part in a symposium in Macau organised by the Training Centre of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Macau), according to official information. The conference, which began on 18 July was held at the Guangdong-Macau Traditional Chinese Medicine Industry-park, whose facilities were visited on Wednesday by the executives and technicians in order to see current development.
26 July 2016
The Guangdong and Macau Branded Product Fair and the Macau Franchise Expo this year will be held simultaneously for the first time, according to a decision of the Macau Trade and Investment Promotion Institute (IPIM). This fair/exhibition will be attended for the first time by Mozambique and Timor-Leste (East Timor) and also includes an area dedicated to Indonesian products featuring 50 stands.
20 July 2016
Twenty-five employees from the government tourism agencies of Angola, Cabo Verde (Cape Verde), Guinea-Bissau, Mozambique and Timor-Leste (East Timor) took part in Macau in training activities organised by the Macau Government Tourist Office, between April and July. Training of the last of three groups "successfully" ended last week. The training included an internship at the Tourism Services Office.
7 July 2016
4 July 2016
The controlling stake held by Brazilian group Oi in Timor Telecom is expected to be acquired by the ETO group of Timor-Leste (East Timor) and a final agreement is due to be reached soon, said Ivan Pereira de Araujo, head of the VSLN/Thelson/Bona Fide consortium. The consortium hired by Oi to conduct the negotiation and sale of shares recently told Portuguese news agency Lusa that 11 purchase proposals had been analysed and that the selected proposal was put forward by ETO, owned by businessman Nilton Gusmão.
16 June 2016
The government of Timor-Leste (East Timor) has decided "definitively" to give up on the idea of buying the stake owned by Brazilian company Oi in Timor Telecom. It plans to keep its current stake of 20.59 percent, said the Timorese Deputy Finance Minister. Hélder Lopes also told Portuguese news agency Lusa that the decision not to buy the stake was made "based on a commercial, financial and economic analysis carried out by the government."
10 June 2016
Timor-Leste (East Timor) within the next three years will have a modern port in Tibar bay, 12 kilometres from the capital, Dili, according to a contract signed this week with Bolloré Ports, according to a statement obtained by Macauhub. The port, which involves an investment of US$490 million, will have a dock 630 metres long and 15 metres deep, a container storage area covering 27 hectares and modern equipment including two ship-to-shore cranes and five cranes with rubber wheels.
8 June 2016
Timor-Leste (East Timor) will create a "single window" that will reduce the current average time for processing imports and exports of nine days to between 12 and 36 hours by 2020, the coordinator of the tax reform commission said Tuesday. "This is an electronic system that will eliminate all the paperwork, reduce administrative costs and delays, the possibility of errors and fraud and facilitate foreign trade," said Fernanda Borges, cited by Portuguese news agency Lusa.
7 June 2016
The Prime Minister of Timor-Leste (East Timor) called on international investors to look at the real risks of the country rather than imagined ones, during an international conference to attract investment due to end Tuesday. "The government is well aware that it is hard to attract foreign investment in emerging countries like Timor-Leste, if only for the potential level of risk," said Rui Maria de Araujo.
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.
18 May 2016
The ministers of maritime affairs of the Community of Portuguese-Speaking Countries (CPLP) are meeting Wednesday in Dili, Timor-Leste (East Timor), at the third meeting to discuss the expansion of the so-called "blue economy" and the conservation and sustainable use of the seas and oceans. The purpose of the meeting, according to a statement released by the CPLP, is an "appeal to the conscience" of leaders for economic and business cooperation for the "blue economy", mainly in the areas of fisheries, tourism and exploration of hydrocarbons and other resources.
5 May 2016
Trade between China and the Portuguese-speaking countries contracted by 23.03 percent year on year in the first quarter of the year to US$16.727 billion, according to official figures published in Macau. Over the first three months of the year China exported to the eight Portuguese-speaking countries goods worth US$5.844 billion (-44.95 percent) and imported goods amounting to US$10.882 billion (-2.1 percent), assuming a deficit of US$5.038 billion.
22 April 2016
Oil company, Timor Gap is due Thursday to receive its certification from the International Organization for Standardization (ISO) in the areas of quality, health, safety and the environment. The certification was awarded by DNV GL, a company operating in over 100 countries and employing over 16,000 professionals dedicated to providing classification , certification, verification and training services.
19 April 2016
12 April 2016
11 April 2016
Increased public and private investment should lead to the growth of the Timor-Leste (East Timor) economy increasing to 4.5 percent in 2016 and 5.5 percent in 2017, the Asian Development Bank (ADB) said in a recent report. The Asian Development Outlook 2016 report said that the public-private partnership to build a new seaport west of the capital Dili is expected to begin in 2017 requiring an investment of US$290 million, 19.8 percent of the country's Gross Domestic Product (GDP) in 2015.