DILI, 11 december 2023 (TATOLI) – The Minister of Trade and Industry (MTI) proposed 8,197,392.00 USD of the General State Budget (GSB) for 2024, aimed at focusing on six vital programs of economic diversification in Timor-Leste.
Minister of MCI, Filipus Nino Pereira, said the ninth government, through the finance revision committed, has approved a total of 8,197,392.00 USD to focus on six priority programs that can boost economic diversification in the country.
“We just proposed 8.1 million USD to focus on the six principal programs for economic diversification in the country,’’ Minister of MCI Filipus Nino Pereira told journalists in Matadouro this monday.
He added that there are six principal programs: the economy diversification program, the trade development activity program, the development of a free market zone, the establishment of Park Industrial, the promotion of local products to the domestic and international markets, and strengthening cooperation with international partners and also with relevant ministries. Timor-Leste is also accessing the World Trade Organization and ASEAN.
Mr. Nino Pereira stated that Timor-Leste will positively join the World Trade Organization (WTO) and the Association of Southeast Asian Nations (ASEAN) next year. However, it is requested that Timor-Leste make an effort to boost economic diversification through accessibility to the international market.
“Next year, we will focus on the WTO and ASEAN and continue to need the international organizations’ support on vision and mission to focus on the success of the economic development program”.
MTI continues to prioritize the process of establishing the Parker industrial zone. Thus, MTI should pay competition for the affected 37 families in the Liquiça area in 2024, and it will allow the construction to commence in 2025.
The Parker industrial zone will be used for 50 hectares of land, broadening from Ulmera Watubou in the municipality of Liquiça. This project is expected to cost more than US$25.000.
Journalist: José Belarmino de Sá
Editor: Rafael Ximenes de A. Belo
