19 September 2008

Finance holding up business development in East Timor

The World Bank says it's no easier to run a business in East Timor now than it was a year ago, despite government efforts.

Radio Australia's Stephanie March reports that a key priority for the Alliance of a Parliamentary Majority (AMP) coalition government led by Xanana Gusmao is to develop the private sector.

Tax cuts came into effect on July 1 and new investment legislation is expected to go before the Council of Ministers in coming weeks.

But the recent Doing Business survey by the World Bank's International Finance Corporation (IFC) says there's still a long way to go. Read more...

No comments: