AGP Executive Report
Last update: 9 hours agoDiplomacy & Regional Ties: Vietnam inaugurated its fully functional, centralised embassy office in Dili on July 15, with Timor-Leste officials including Deputy Prime Minister Francisco Kalbuadi Lay and Foreign Minister Bendito dos Santos Freitas attending, as both sides reaffirmed cooperation and support for Timor-Leste’s ASEAN integration. Financial Reform: Timor-Leste’s National Parliament approved Law Proposal No. 22/VI (2nd) establishing a new legal framework for the financial system and banking activities, boosting the Central Bank’s regulatory and enforcement powers, creating a Resolution Fund and Deposit Insurance Fund, and strengthening rules against money laundering and terrorist financing. ASEAN & Economic Direction: A regional survey reported Timor-Leste leaning more toward China than the United States in alignment preferences, reflecting wider Southeast Asian economic dependence and security ties. Energy & Investment: Singapore-based Global Group began building its first fuel storage terminal in Timor-Leste in Liquica, a US$10 million project aimed at strengthening fuel supply and inventory control. Government Remembrance: The Timor-Leste government issued a condolence statement for Dr. Paula Pinto, praising her long support for Timorese self-determination and her service to the state after independence.
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