Timor-Leste holds Business Forum in Beijing to promote investment opportunities
On July 30th, 2024, Timor-Leste organized a Business Forum on Investment Opportunities in Beijing, China, with the aim of presenting and exploring business opportunities in the country. The event was attended by almost 200 representatives from the Chinese public and private sectors and focused on strengthening bilateral relations and attracting Chinese investment.
The forum was led by the President of the Republic, José Ramos-Horta, and the Vice Prime Minister, Coordinating Minister for Economic Affairs and Minister for Tourism and the Environment, Francisco Kalbuadi Lay. Also present were the Minister of Foreign Affairs and Cooperation, Bendito dos Santos Freitas, the Ambassador of Timor-Leste to China, Maubere Lorosae da Silva Horta, among other government officials and representatives of national entities.
During the event, the solid 22-year relationship between Timor-Leste and China was highlighted, as well as China's position as a global and regional power. President Ramos-Horta emphasized the importance of improving the conditions for investment, with special emphasis on the development of investment protection laws.
In his speech, Vice Prime Minister Francisco Kalbuadi Lay thanked the Government of China and the participating companies for their interest in exploring investment opportunities in Timor-Leste. “Relations between Timor-Leste and China go beyond diplomacy; we have a history of friendship and deep cooperation. We are committed to creating a favorable environment for investments that benefit both countries,” said Kalbuadi Lay.
The event also served as a platform to present various investment opportunities in Timor-Leste, covering sectors such as infrastructure, agriculture and tourism. The Timorese delegation highlighted the country's strategic location, its young workforce and natural resources as the main advantages for potential investors.
The Minister of Petroleum and Mineral Resources, Francisco Monteiro, and the Minister of Agriculture, Fisheries, Forestry and Livestock, Marcos da Cruz, invited Chinese companies to invest in sectors such as oil, gas and metal ores, as well as in the agricultural sector.
Francisco Monteiro emphasized the opportunities in the minerals sector, highlighting strategic minerals such as lithium and nickel, used in the production of batteries for electric vehicles and other essential industries.
The Minister also presented the Tasi Mane project, a long-term strategic project that aims to create key infrastructures to facilitate the development of the oil and gas industry, a sector with great potential in Timor-Leste, both onshore and offshore.
This forum reinforced Timor-Leste's commitment to regional integration, including the recent accession to the World Trade Organization (WTO) and the ongoing negotiations to join ASEAN. These are important steps for the promotion and protection of investments, offering a solid legal basis for investment operations both nationally and internationally.
