DILI, 12 april 2024 (TATOLI) – The President of the Republic, Jose Ramos Horta met with Rogerio Lobato, President of the Regional Authority for the Special Administrative Region of Oe-Cusse Ambeno (RAEOA), to discuss the commitment of Chinese investors to invest US$70 million to rehabilitate a five-star hotel in Oe-Cusse.
During the meeting, Lobato introduced a group of investors from Shanghai, China to the President of the Republic.
“During the meeting, I introduced to President Horta, a group of investors from Shanghai, China, who are interested in investing in the hospitality sector in Oe-Cusse. This group has expressed interest in rehabilitating and expanding the existing Oepo Hotel, a project that has been abandoned for a considerable period,” Lobato said after meeting with the Head of State.
The Chinese investors are reportedly prepared to invest around US$70 million to revamp and expand the Oepo Hotel, a move that is expected to significantly boost the tourism potential of the Oe-Cusse region.
A Memorandum of Understanding (MOU) has already been signed between the local government and the investor group.
President Horta expressed his heartfelt appreciation for the initiative taken by the Chinese investors, highlighting the longstanding and positive relationship between Timor-Leste and China.
President Horta’s endorsement of the project is seen as a positive sign for the future development of the Oe-Cusse region.
The hotel will contribute to improving tourist accommodation in the region, to facilitate travellers visiting Oe-Cusse.
In addition, Lobato also expressed his gratitude to President Horta for his recent visit to the Oe-Cusse region during the Holy Week of Easter. The visit was seen as a gesture of the President’s commitment to the development of the autonomous region.
Journalist: Jose Belarmino de Sa
Editor: Filomeno Martins
