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East Timor seeks foreign investments in tourism
Release time:2015-07-29
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East Timor’s Prime Minister, Rui Maria de Araújo, has called for foreign investments in the country’s tourism sector in order to diversify its economy.

Speaking with the Vietnam News Agency last week, Mr Araújo said developing tourism was “vital” to the country in reducing its reliance on the oil and agricultural sectors.

Although East Timor boasted beautiful landscape, its poor infrastructure was only capable of receiving “a few thousand travellers” every year, he said.

As a result, the Prime Minister added, East Timor was seeking foreign investments in the areas of community tourism, eco-tourism and cultural tourism.

According to the report, the nation has been working to train locals for the tourism sector, as well as improving its legal framework and investment incentives in related fields.

East Timor’s economy depends heavily on oil exports. Revenues from such exports totalled about US$7 billion a year, Vietnam News Agency reported.