AGP Executive Report
Last update: 23 minutes agoOffshore Energy Contract: Fugro won a contract for offshore site characterization surveys supporting Timor-Leste’s Greater Sunrise and Bayu Undan gas developments, using geophysical, seismic and autonomous underwater vehicle work in deep waters (3,000m+), with mobilization planned for Q3 2026 and surveys starting Q4 for about three months. Financial System Overhaul: 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, creating a Resolution Fund and Deposit Insurance Fund, and adding anti–money laundering and consumer protection measures. ASEAN Integration Push: A new report highlights Timor-Leste’s push to diversify beyond oil via tourism, agriculture, fisheries and digital services, with Malaysia backing reforms and new connectivity such as direct flights between Dili and Kuala Lumpur. Labour & Skills Link: New Zealand’s Recognised Seasonal Employer scheme added Timor-Leste for 2026, with thousands applying for seasonal orchard work—raising questions for training, wages and workforce readiness. Scam Crackdown: Timor-Leste police uncovered a major international scam operation in Dili, arresting hundreds tied to call centres and alleged money laundering and illegal online gaming. Diplomatic Business Bridge: Vietnam inaugurated its fully operational embassy office in Dili, positioning it as a bridge for agencies, localities and business ties as Timor-Leste advances ASEAN integration.
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