East Timor holds business forum in Beijing to promote investment opportunities « Government of East Timor

On July 30, 2024, Timor-Leste held an Investment Opportunities Business Forum in Beijing, China, aimed at showcasing and exploring business opportunities in the country. Nearly 200 representatives from the Chinese public and private sectors attended the event, which focused on strengthening bilateral relations and attracting Chinese investment.

The forum was chaired by the President of the Republic, José Ramos-Horta, and the Deputy Prime Minister, Coordinating Minister for Economic Affairs, and Minister of Tourism and Environment, Francisco Carbuadi Ley. Also present were the Minister of Foreign Affairs and Cooperation of Timor-Leste, Bendito dos Santos Freitas, the Ambassador of Timor-Leste to China, Mobel Loroza da Silva Horta, and other government officials and representatives of state entities.

During the event, the strong relationship between Timor-Leste and China over the past 22 years and China’s status as a global and regional power were highlighted. President Ramos-Horta stressed the importance of improving investment conditions, with a particular emphasis on developing an investment protection law.

In his speech, Deputy Prime Minister Francisco Kalbuadi Lay thanked the Chinese government and participating companies for their interest in exploring investment opportunities in Timor-Leste. “The relationship between Timor-Leste and China goes beyond diplomacy. We have a history of friendship and deep cooperation. We are committed to creating a favorable investment environment to benefit both countries,” said Kalbuadi Lay.

The event also served as a platform to showcase various investment opportunities in Timor-Leste, covering sectors such as infrastructure, agriculture and tourism. The Timor-Leste delegation highlighted the country’s strategic location, young workforce and natural resources as key advantages for potential investors.

Minister of Petroleum and Mineral Resources Francisco Monteiro and Minister of Agriculture, Fisheries, Forestry and Livestock Marcos da Cruz invited Chinese companies to invest in the fields of oil, natural gas, metal minerals and agriculture.

Francisco Monteiro highlighted opportunities in the mining sector, with a particular emphasis on strategic minerals such as lithium and nickel, which are used in the production of batteries for electric vehicles and other important industries.

The Governor also presented the “Tasi Mane” project, a long-term strategic project to build critical infrastructure to facilitate the development of the oil and gas industry, which has great potential both onshore and “offshore” in Timor-Leste.

The forum reinforced Timor-Leste’s commitment to regional integration, including its recent accession to the World Trade Organization (WTO) and ongoing negotiations for ASEAN membership. These are important steps in promoting and protecting investments, providing a solid legal basis for domestic and international investment operations.