Why We Must Invest in Timor-Leste: A Promising Future for Sustainable Development

Over the past month I have found myself reflecting on Australia’s relationship with Timor-Leste.?

I’ve got a long history with Timor-Leste. I’ve supported the country and its leaders for over 40+ years. I’ve visited the country countless times and was honoured to receive the Order of Timor-Leste late last year.?

To say that Timor-Leste has a special place in my heart is an understatement.?

Over this time, I’ve 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.?

But the country is at another crossroads.?

Facing a declining oil reserve, a young population who need jobs, and a reform agenda towards sustainability, I’m pushing for more support for Timor-Leste.

We need to support Timor-Leste during this transition.

Here’s what we can do about it.?

Why we need to start investing in Timor-Leste.

Investing in Timor-Leste is not just a moral obligation.?

It's a strategic act vital for regional stability and prosperity.?

Here are four reasons why.

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.

Meet Patricia from Pattys Serie - Chocolates of Timor

Patricia (or Patty) is driven by her dual passion for chocolate but also to help the local cocoa farmers of Timor-Leste.?

She believes (and her numbers show) that cocoa in the country is underutilised, with a large majority of the crops left to rot on the ground.?

By upping production, Patty believes she can support farmers to send their kids to school while providing a premium product to the Australian and Asian markets.?

Her product has both the President of Timor-Leste and Ambassadors of the country raving about her chocolates.

If you want to support her work, visit?

https://www.facebook.com/profile.php?id=100078921977274

Meet Claudia from Vera Juice

Claudia (middle in black polka dots) sees a local and international market for her juice.?

She got the idea when she saw a lot of waste in the markets when older fruit was not sold.?

She started experimenting with producing fresh juice, often from fruit that couldn’t be sold at the market.?

She has found a niche and also a desire from the local population to drink fresh juice in comparison to the long-lived imported varieties.?

Her juice is a hit. She can’t keep up with the demand.?

Claudia is another great example of the entrepreneurial spirit starting to be unleashed in the young Timorese community.

If you want to support her work, visit: https://www.facebook.com/p/Vera-Juice-100083299823604/

The focus of The Good Business Foundation (GBF)

My co-founder was recently in Timor-Leste on GBF business.?

Timor-Leste is the place where we first met. Stuart was the CEO of East-Timor Hearts Fund before we came up with the idea for the Good Business Foundation. I say again that Timor-Leste has a special place in my heart.?

Stuart travelled with Annie and Anna from The Difference Incubator (TDi) during this trip.?

The main focus was to:

1. See how the Good Business Foundation could better support people like Patty and Claudia. My thinking is that if we build an SME economy, with a particular focus on medium and growing businesses, we will help stabilise the economy as it goes through the post-oil economy transition. If we can support businesses that have impact and community values baked in, then it will result in a prosperous and peaceful transition for the country.

• Provide examples of commercially minded but impact-oriented businesses. Stuart also travelled with Coach Robbie from Kick Academy in Geelong. Kick Academy is a growing business with great commercial and community value. Showing that these kinds of businesses cannot only survive but also thrive will build confidence within Timorese entrepreneurs that good business is the future.

Here’s a short video Stu prepared. Watch it HERE.

In Conclusion

We need to move beyond volunteering and aid money.?

While these are necessary and important, more is needed and sustainable to develop a country. Timor-Leste needs an investment strategy that will position the country and its people for long-term prosperity now and into the future.?

There are impact-driven and commercially viable businesses that we can support today.

I know where I’ll be getting my chocolate and juice from.

Till next time,?

Peter

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