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.
7 April 2016
Transfers from the Oil Fund allowed the 2015 budget in Timor-Leste (East Timor) to post a surplus of US$471.8 million, according to a statement from the Ministry of Finance issued Wednesday in Dili. The fiscal newsletter of the Ministry of Finance for the third quarter of 2015, reports said that excluding the Oil Fund, the main source of government revenue, Timor-Leste would have ended 2015 with a deficit of US$835.9 million.
5 April 2016
Guinea-Bissau will receive 150 official and business delegations for a meeting in Bissau of businesspeople from China and the Community of Portuguese-speaking Countries, the coordinator of the meeting's technical office said recently. Giving an update on preparations for the meeting, coordinator Bruno Jauad gave assurances that "everything is ready" to welcome the delegations to Bissau on 9, 10 and 11 April.
21 March 2016
An Investment Guide for Timor-Leste (East Timor) will be published at a forum to present Timor-Leste to foreign investors, taking place this year in Dili, under a contract to provide services signed between the local government and the company EY Portugal. The statement said that the contract signed between TradeInvest Timor-Leste and EY Portugal is the result of the Timorese agency's focus "on foreign investment as a lever for economic growth and sustainable development of the country whilst promoting the territory to potential foreign investors."
11 March 2016
A letter in which the government of Timor-Leste states its "firm and intractable" intention to buy Brazilian company Oi's stake in Timor Telecom is due to be sent to Brazil Friday, a source from the consortium representing the operator said Thursday in Dili. The VSLN/Thelson/Bona Fide consortium was mandated by Oi to conduct "effective negotiation and sale of shares" which it holds in Timor Telecom (TT). The head of the consortium, Ivan Pereira de Araujo, told Portuguese news agency Lusa he had been informed of the decision to purchase by the Minister of Public Works, Transport and Communications, Gastao de Sousa and the Director-general of the same ministry, Joanico Gonçalves.
10 March 2016
The government of Timor Leste (East Timor) has approved the purchase of the stake owned by Brazil's OIi telecommunications company Timor Telecom, a source from the Timorese government said Thursday in Dili. The source also told Portuguese news agency Lusa that the government would appoint a committee to negotiate the value of the transaction with the consortium authorised by Oi to divest its stake in Timor Telecom (TT).
10 March 2016
The Asian Development Bank (ADB) has granted an additional loan of US$76.2 million to finance the project underway to create a safer national road network in Timor Leste (East Timor), the bank said in a statement. The finance contract was signed earlier this month by the Timor Leste Minister of Finance, Santina Viegas Cardoso and the resident director of the ADB, Shane Rosenthal.
7 March 2016
China and the eight Portuguese-speaking countries began 2016 with a year on year fall of 18.69 percent in trade in January, which totalled US$6.158 billion, according to Chinese official figures published in Macau. Trade with Brazil totaled US$4.419 billion (-20.61 percent), with China exporting goods worth US$1.682 million (-17.89 percent) and importing goods worth US$2.737 billion (-22.19 percent).
2 March 2016
The value of trade between China and the Portuguese-speaking countries fell by 25.73 percent in 2015 to US$98.474 billion, a real loss of US$34.106 billion, according to official Chinese figures. The only positive changes in the value of trade occurred in Timor Leste (East Timor - US$106.67 million or +76.48 percent) and Sao Tome and Principe (US$7,9 million or +37.99 percent).
25 February 2016
Ministers of the Economy of the Community of Portuguese-Speaking Countries (CPLP) closed a meeting held in Dili, Timor-Leste (East Timor), with the approval of a joint statement in which they recommended several courses of action. These includes promotion of investment, institutional and business training, financing and strengthening competitiveness, and the group's spokesman, the Timorese Minister for Trade, Industry and Environment, Constancio Pinto, said that these measures were intended to "make the CPLP meet the challenges of the global economy."