Summary
Timor-Leste is one of the world’s youngest democracies, gaining independence in 2002. More recently, it became ASEAN’s newest member when it formally joined the bloc in October. It faces challenges in its efforts to tap the country’s rich natural resources and improve its infrastructure as it deepens regional integration. The country is looking to attract more visitors by investing heavily in infrastructure, including airports, hotels, and convention centers.
But Timor-Leste’s development is challenging due to its narrow economic base, reliance on the rapidly depleting Petroleum Fund, and a lack of skilled labour. The country is also struggling to provide jobs for its people. Experts say education is key to unlocking the potential of its young population. Timor-Leste is also looking to its ASEAN membership to give its economy a lift.
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