DILI, 10 september 2021 (TATOLI) – The Institute for Business Support (IADE) is committed to supporting the local businesses in two programs, namely Business Plan Competition and Business Incubation and Innovation Facilities.
IADE’s Executive Director, Filomeno Marcelino Belo said to implement these two principal programs, IADE had proposed an additional budget of US$ 481.000.
“The actual budget that was proposed by the Ministry of Finance to be allocated specifically for IADE is around US$ 960.000, and we have the opportunity to request an additional budget of US$ 481.000. So, if the additional budget is approved then IADE would have a total of US$ 1.4 million for the fiscal year 2022,” Belo told TATOLI at the Ministry of Finance, in Dili, on thursday.
He said the Business Plan Competition program would focus mainly on tourism entrepreneurship: “IADE will support those activities of the local entrepreneurs, which focusing on tourism development.”
“Regarding the Business Incubation and Innovation Facilities program, IADE will support the local businesses by providing adequate facilities and incentive funds to help them grow, particularly those local enterprises that are still in operation despite the impacts of Covid-19,” said Belo.
He said so far IADE had executed 54 percent of its 2021 General State Budget (OJE), saying the execution would reach 95 percent by the end of the year.
Belo recalled that Covid-19 was one of the biggest obstacles, which hindered the execution of the IADE’s 2021 state budget: “All IADE’s staff members should get vaccinated to implement its 2022 programs without worrying about the virus.”
“If all of our staff members are fully vaccinated, I think next year we would have no problems with implementing our priority programs,” Belo added.
Journalist: Filomeno Martins
Editor: Nelia Borges Rosario
