Timor-Leste, Australia deepen business and investment ties

DÍLI, 29 October 2026 (TATOLI) — Timor-Leste is seeking to attract more private investment to diversify its economy, boost domestic production and create jobs as the government works to reduce its reliance on petroleum revenues, Prime Minister Xanana Gusmão said on Thursday. Speaking at the Invest Timor-Leste 2026 forum in Dili, Gusmão said the country needed a stronger private sector to drive sustainable economic growth and reduce its reliance on the Petroleum Fund to finance national development. “We cannot continue to depend on the Petroleum Fund to finance our development,” he said at the event, held at the Palm Springs Hotel, in Dili, today. Gusmão called on international investors to bring capital, technology, skills and expertise to Timor-Leste, saying these resources could strengthen local businesses, increase productive capacity and create new economic opportunities.

He identified tourism, agriculture and renewable energy as priority sectors for investment, highlighting their potential to broaden the country’s economic base beyond oil and gas. In tourism, Gusmão pointed to Timor-Leste’s natural landscapes, marine biodiversity, history and cultural heritage as assets that could attract visitors and investors. In agriculture, he stressed the need to expand domestic production and reduce dependence on imported goods, while renewable energy was identified as another area with potential for private-sector investment. Gusmão also reaffirmed the government’s commitment to developing the Greater Sunrise gas project, including its ambition to process natural gas in Timor-Leste. To attract more investors, the government is working to improve the business environment by simplifying administrative procedures, streamlining business licensing and supporting domestic…