Subject: Rising investor interest in Timor
The Portugal New Online
Rising investor interest in Timor 21/11/2009
East Timor Economy Minister João Gonçalves said this week that three major building ventures in the new nation are evidence of rising foreign investor interest.
The minister told Lusa in Lisbon that Portuguese constructor Ensul is modernising the airport of Timor’s second city, Baucau. Besides this undertaking a new shopping mall with flats and office space has also been approved. Timor’s new investment legislation and a USD 100 million credit line have driven these overseas investments, said Dili’s economy chief, and this credit facility could be extended to USD 500 million.