Timor-Leste’s Prime Minister Rui Maria de Araujo is calling for foreign investment in tourism to boost its contributions to the economy alongside agriculture and oil and gas industries.
Timor-Leste’s Prime Minister Rui Maria de Araujo is calling forforeign investment in tourism to boost its contributions to the economyalongside agriculture and oil and gas industries.
Developing tourism is vital to helping the country diversify itseconomy and reduce the dependence on oil-related revenue, he said.
As a young nation that gained independence in 2002, Timor-Leste haspoor infrastructure and over 30 percent of its population living inpoverty. The country’s economy depends heavily on oil exports whichbring home about seven billion USD per year.
Though the island nation boasts unspoiled natural beauty, localfacilities are only capable of accommodating a few thousand travellersevery year, regarded as one of the country’s biggest challenges toboosting the tourism sector, the PM conceded.
Timor-Leste is seeking investment with the focus on community tourism, eco-tourism and cultural tourism.
It has been working to train human resources in the field andcomplete legal frameworks and incentive policies to welcome moreinvestors.
In addition, the nation is also focused on developing clean agriculture with coffee remaining as a key product.-VNA
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