Timor Leste expects more investments from Indonesian private sector

The government of Timor-Leste expects more investments from the Indonesian private sector, particularly in the sectors of infrastructure, oil and energy, as well as in Small and Medium Enterprises (SMEs).

Minister of Foreign Affairs and Cooperation of Timor Leste Jose Luis Guterres told an ANTARA News here on Monday that Indonesia was a lot more advanced than his country in terms of development.

"In many ways, Indonesia is more advanced, and we have benefited from Indonesian businesses in Timor-Leste. We now intend to bring in more private sector companies to invest in our country, especially in oil, energy, infrastructure, and SMEs," he stated.

According to Guterres, more than a hundred companies were established in the capital city of Dili, and no fewer than eight thousand Indonesians live in and carry out businesses in Timor Leste.

A great example of Indonesias role in supporting the development of infrastructure in Timor Leste was the construction of the airport in Dili. The tender for the project was won by Indonesian company Wijaya Karya, which went on to build the airport.

Guterres further noted that investment in the airport project amounted to more than US$50 million. "Till date, this is the largest foreign investment made in Timor Leste, which is from Indonesia," he observed.

Moreover, Timor Leste is striving to become a member of the ASEAN and is using the available time to develop its infrastructure and connectivity.

"We encourage the Indonesian private sector to take a part in this process," Guterres added.

During his visit to Indonesia, the senior Timor Leste minister also conveyed his appreciation of the hard work of the two countries towards establishing good bilateral relations, which were strengthened during the ten years under former president Susilo Bambang Yudhoyono.

"We now want to continue to further strengthen cooperation with Indonesia under President Joko Widodos administration, based on mutual respect and dimensional interests of each country," he affirmed.

Guterres mentioned that the President of Timor Leste Taur Matan Ruak attended the inauguration ceremony of President Joko "Jokowi" Widodo on October 20, 2014, which is evidence of how important Indonesia is for the country.

"Indonesia is not only a neighbor, but also a brother and sister and our greatest friend," he remarked.

Bilateral relations between the two countries were officially established through the signing of a Joint Communiqu Concerning Diplomatic Relations between the Republic of Indonesia and the Democratic Republic of East Timor in Jakarta on July 2, 2002.