Trade delegation identifies business opportunities in East Timor

East-Timor’s capital Dili

Malaysian businesspeople who visited East Timor this month identified several investment and business opportunities in the country, said Abu Bakar Koyakutty, director of the chemical, oil and gas section of Malaysia’s foreign trade promotion agency.
Representatives of 10 companies, nine of which suppliers and manufacturers for the oil sector, were in Dili – before a visit to Jakarta, Indonesia – for contacts with the Timorese authorities and officials of the National Petroleum Authority and the Timor Gap, a visit organized by the Malaysia External Trade Development Corporation (Matrade) and Malaysia Petroleum Resources Corporation (MPRC).
Abu Bakar Koyakutty, who led the delegation, said that the activities available in East Timor to conduct business were in the immediate term almost nonexistent, but of great potential in the medium term.
Tax advantages help East Timor, an emerging country, to create a positive environment for Malaysian companies, a country that has a history of support for the independence of the country, according to the director of Matrade.
“Malaysia has a good reputation among the East Timorese because we are among the donors and the countries that have helped develop Timor-­Leste since independence,” he said. MDT/Macauhub