Timor-Leste and Vietnam step up business and investment links
VOV.VN - Timor-Leste and Vietnam are looking to strengthen business connections, expand trade and investment, and address obstacles facing a Vietnamese seafood fishing and processing project in Timor-Leste, following a meeting between Vietnamese Ambassador Pham Binh Dam and TradeInvest leadership on October 19.
The meeting took place in Dili, where the two sides discussed ways to connect businesses and facilitate investment cooperation.
Duílio Marino Gusmão Araújo da Silva, executive director of TradeInvest, Timor-Leste’s Investment and Export Promotion Agency, praised Vietnam’s economic development and success in attracting foreign investment. He explained that economic diversification and private-sector development are among the Timorese Government’s priorities.
He also called for stronger links with Vietnamese partner agencies through the Vietnamese Embassy, including exchanges of experience in improving the investment climate and strengthening support for businesses. Timor-Leste is ready to facilitate Vietnamese companies exploring opportunities, investing and doing business in the country.
Drawing on Vietnam’s experience of economic opening and international integration, Ambassador Pham Binh Dam highlighted the need for continued reform, stronger institutions and regular engagement with businesses to resolve difficulties promptly.
He pointed out that Timor-Leste’s accession to ASEAN and the World Trade Organization (WTO) offers opportunities to access markets and attract resources, while also creating an impetus for reform and stronger implementation of international commitments.
Vietnam is ready to share its experience and connect relevant agencies in the two countries to support Timor-Leste’s cooperation needs, he told the TradeInvest leader.
The ambassador also outlined practical measures to build investor confidence, including transparent procedures, appropriate investment incentives and competitive costs. Digitalisation of investment registration and licensing, closer coordination among agencies through an effective one-stop mechanism, and more convenient arrangements for visas, labour and land access could further improve the business environment.
Regarding a Vietnamese-invested fishing and seafood processing project in Timor-Leste, Dam called on the host side to expedite its review and licensing procedures.
TradeInvest plans to convene a technical meeting with the relevant ministries and agencies to guide the investor through the requirements and discuss how to resolve individual procedural issues. The agency also pledged to support the business throughout the project’s implementation and operation, working with competent authorities to address any difficulties that arise.
The two sides also explored the possibility of organising business forums and exchanges of business delegations to help companies assess each other’s markets, establish partnerships and broaden cooperation opportunities.
The proposed activities would contribute to preparations for the 25th anniversary of diplomatic relations between Vietnam and Timor-Leste, which falls on July 28, 2027.
Timor-Leste and Vietnam to increase parliamentary cooperation
VOV.VN - Vietnamese Ambassador to Timor-Leste Pham Binh Dam paid a courtesy call on Timor-Leste National Parliament President Maria Fernanda Lay in Dili on October 14, with discussions focusing on parliamentary cooperation, legislative experience-sharing, and engagement in regional inter-parliamentary mechanisms.
