AGP Executive Report
Last update: 2 hours agoFinancial Reform: Timor-Leste’s National Parliament has approved Law Proposal No. 22/VI (2nd), creating a new general framework for the financial system and banking activities, boosting the Central Bank’s regulatory and enforcement powers, setting up a Resolution Fund and Deposit Insurance Fund, and strengthening rules to prevent money laundering and terrorist financing. Oil & Gas Development: Finder Energy received Timor-Leste ANP approval for the Kuda Tasi and Jahal Project field development plan, paving the way toward final investment decisions after a phased plan built around redeploying the Petrojarl I FPSO and drilling subsea production wells. Fuel Storage Investment: Singapore’s Global Group started construction of its first Timor-Leste fuel storage terminal in Liquica, a US$10m tank farm designed to store millions of litres of diesel and petrol and support its retail, wholesale, and supply to ports and naval vessels. Food & Industry Restart: Dili Dairy Factory resumed production and says it is returning to the market at full capacity after internal upgrades, independent lab testing, and additional inspection reviews. Regional Fisheries Compliance: A fisheries officer exchange between Papua New Guinea and Timor-Leste focused on improving compliance and enforcement, including port inspections, vessel monitoring, catch documentation, and integrated monitoring systems to tackle illegal fishing.
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