CACCI President: Why We Must Invest in Timor-Leste
Over the past month CACCI President Peter McMullin AM has reflected on Australia’s relationship with Timor-Leste because he has supported the country and its leaders for over 40+ years. He has visited the country countless times and was honoured to receive the Order of Timor-Leste late last year. Timor Leste occupies a special place in Peter’s heart.
Over this time, Peter has seen the country go through many ups and downs. From civil unrest and conflict to finding its feet again after decades of occupation and political instability. Today the country is at another crossroads as it faces a declining oil reserve, a young population who need jobs, and a reform agenda towards sustainability,
For these reasons, CACCI President Peter McMullin AM is pushing for more support for Timor-Leste and here Peter speaks out what is needed.
(1) Strategic Location and the Economic Potential of Timor-Leste
Timor-Leste is only 1-hour away from Darwin by air. They are one of our closest neighbours. Combined with its strategic position, Timor-Leste offers a gateway to Pacific and Asian markets. This young nation, though small, is rich in untapped human capital and possesses significant potential for growth in sectors like tourism, agriculture, and energy – particularly renewable energy. Its government is committed to an ambitious economic reform agenda to enhance investor confidence and streamline business operations.
(2) Commitment to Sustainability and Renewable Energy
The leadership of Timor-Leste has openly embraced the challenge of sustainability. This commitment is crucial as it aligns with global shifts towards green energy and sustainable practices. Investing in Timor-Leste’s renewable energy sector could yield significant returns not only financially but also in advancing global sustainability goals. The country’s potential in solar and oceanic energy is vast and remains largely untapped.
(3) Strengthening Regional Stability through Sustainable Development
Timor-Leste can be a model for a smooth transition to sustainability. As nations worldwide grapple with economic recovery post-pandemic, supporting emerging economies can lead to more balanced regional development and stability. Timor-Leste’s development can serve as a model for other nations in the region, showcasing how sustainable practices can be integrated into national development plans.
(4) Social Impact and Building Community in Timor-Leste
It is not merely about financial returns but about fostering a just and equitable world. Supporting this young democracy helps ensure that our closest neighbours have opportunities for education, healthcare, and economic prosperity. Socially responsible investments can support infrastructure projects that improve everyday life and help build a resilient society.
To view two business opportunities from Timor Leste, click HERE.
