AGP Executive Report
Last update: 6 hours agoOffshore Energy & Infrastructure: Fugro won a contract to run deepwater site characterization surveys for Timor-Leste’s Greater Sunrise and Bayu Undan gas developments, using geophysical, seismic and autonomous underwater vehicle work in waters over 3,000 meters; mobilization is set for Q3 2026 and offshore operations for Q4, with about a three-month campaign. Financial System Reform: Timor-Leste’s National Parliament approved the General Framework for the Financial System and Banking Activities, updating the 2000 legal regime and strengthening the Central Bank’s supervision and enforcement, creating a Resolution Fund and Deposit Insurance Fund, and adding a development bank framework plus tighter anti–money laundering and consumer protection rules. ASEAN Integration & Diplomacy: Vietnam inaugurated its fully operational embassy office in Dili, positioning it as a bridge for cooperation and support as Timor-Leste advances its ASEAN integration. Regional Business Links: Timorese workers are being added to New Zealand’s Recognised Seasonal Employer scheme for orchard and vineyard work, reflecting growing labor and skills ties that can feed household income back home. Scam Crackdown: Timor-Leste police say they have dismantled a major international scam operation in Dili, arresting hundreds of call-centre workers and charging them over alleged money laundering, criminal association and illegal online gaming.
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