DILI: Timor-Leste Prime Minister Rui Maria de Araujo isÂ calling for foreign investment in tourism to boost its contributions to the
economy alongside agriculture and oil and gas industries, reports Vietnam NewsÂ Agency (VNA).
Developing tourism is vital to helping the country diversify its economy andÂ reduce the dependence on oil-related revenue, he said.
As a young nation that gained independence in 2002, Timor-Leste has poorÂ infrastructure and over 30 per cent of its population living in poverty.
The country’s economy depends heavily on oil exports which bring home aboutÂ US$7 billion per year.
Though the island nation boasts unspoiled natural beauty, local facilitiesÂ are only capable of accommodating a few thousand travellers every year, regardedÂ as one of the countryâ€™s biggest challenges to boosting the tourism sector, theÂ Prime Minister conceded.
Timor-Leste is seeking investment with the focus on community tourism,Â eco-tourism and cultural tourism.
It has been working to train human resources in the field and complete legalÂ frameworks and incentive policies to welcome more investors. In addition, the nation is also focused on developing clean agriculture withÂ coffee remaining as a key product.– BERNAMA