Subject: AN: Timor urges Indonesian to Invest


JAKARTA April 19

The government of Timor Leste is inviting Indonesian businessmen to invest in the former Indonesian province, a spokesman said.

Timor Leste Foreign Minister Jose Ramos Horta said here on Tuesday, that Indonesia could help Timor Leste implement a poverty eradication program by setting up businesses in the neighbouring country.

The Timor Leste government is increasing its budget for infrastructure development, focussing on the construction of bridges, roads and schools, Horta said after a meeting with Indonesian Foreign Minister Hassan Wirajuda.

Horta urged Indonesian businessmen to come to Timor Leste to see the existing investment opportunities and contracts in the infrastructure sector.

He said his country was expected to achieve an economic growth rate of six percent this year.

"Next year, we expect an economic growth of seven or eight percent, with a number of investment projects being offered now," he said.

The majority of Timor Leste`s revenue is derived from oil and natural gas, with aid donations featuring strongly.

Horta said that his country planned to hold a Business Forum in June or July this year, and invited Indonesian companies to participate.

He said he hoped Indonesian companies would exhibit their products and technologies and share their experiences with their Timor Leste counterparts.


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