Timor Land and Hospitality Sector Booming With Foreign Investment
Business in Timor-Leste has always been something interesting to most businessmen and investors. Situated in between two very important countries of Southeast Asia, namely Indonesia and Australia, Timor-Leste has always been an attractive option for businesses. Due to its strategic location, a large number of shipping routes can be found through Timor. With this in mind, more investments and financing opportunities have been coming out from different parts of the world, especially from major financial centres like Europe and the United States. Timor Leste has always been a popular destination for foreign investors and businessmen. Today, Timor-Leste has become one of the fastest developing tourist destinations on the eastern part of Southeast Asia, attracting more visitors.
The key to any successful business venture in Timor-Leste would be ensuring that it makes proper use of all available resources. In the case of Timor-Leste, this means exploiting the high potentials of tourism in the area. Timor-Leste continually is going through economic development. Although slower than most Asian countries, the public sector in Timor-Leste continues to work very hard to make sure that all sector of the society is in proper operation. From politics to the legal framework to business opportunities, Timor-Leste constantly is to reform its economic advancement.
Tourism plays an essential role in the economy of Timor-Leste. Because of this, Timor-Leste has a lot of tourist spots. The capital city of Sintra is a must-see tourist spot. Other important places worth visiting are Dambol, Mapusa, Pula, Jimbaran, and Moremi. While in Timor-Leste, you may also enjoy diving, snorkeling, and horseback riding. All these options will help you earn a fortune while enjoying your stay in Timor-Leste.
Tourism has a great contribution to Timor-Leste’s economy. Unfortunately, the country’s inefficient government sector continues to hinder the growth of private sector. Many businesses in Timor-Leste have yet to realize their full potential due to the ineffective system of government regulation. Consequently, a lot of these businessmen have relied on foreign investment in order to finance their ventures.
The successful business ideas in Timor-Leste have to do with the timely service and the quality product that it offers to customers. Tourism is a huge industry in Timor-Leste, and its potential is being recognized by many young people who wish to start their own venture. As such, Timor-Leste continues to attract tourists from around the world. There are numerous travel agencies in Timor-Leste that cater to the needs of all kinds of travelers, rich or poor. There are many young people who dream about starting their own business and setting up their own boutique hotels. Many of these establishments have been financed by foreign investors.
One of the best examples of a Timor-Leste hotel that was financed by a foreign investor is the Dili International Hotel and Spa. The building of this luxurious hotel was completed in 1998 and it is located near the city of Dili. The main focus of this building is on providing excellent customer service and an excellent relaxing experience. In addition, the Timor-Leste government has made it possible for foreign investors to apply for government grants that can be used for capital investments in Timor-Leste.
Apart from the Timor-Leste hotels, many other establishments in Timor-Leste were built with the assistance of foreign investment. One of these is the telotel, which is one of the most famous hotels in Timor-Leste. This establishment was built with financing from the Inter-Oriental Bank. The Timor-Leste tax system is also allowing foreign investors to use the tax system in order to attract more investments to the country. This is due to the fact that the central bank of Timor-Leste has allowed for foreigners to hold more than fifty percent shares in any company that has stakes in the country.
Tourism is one of the major sectors in Timor-Leste that has benefited from the boom in tourism in Australia. Tourism can be supported by the Timor Sea tourist transportation that links the eastern part of the island with the mainland of Australia. The transport system will allow tourists to visit the places at a convenient time. The government of Timor-Leste welcomes all forms of private sector investment and welcomes foreign direct investment in Timor-Leste to further boost its tourism sector.