DILI, Timor-Leste: Mr Lawrence Wong hopes his visit to Timor-Leste, the first by a Singapore prime minister, will spark greater interest and exchanges between Singaporeans and the Timorese people.“There are many possibilities, and hopefully with this visit it will spark more interest among Singaporeans, and it will spark more exchanges and interactions between Singaporeans and the Timorese people,” Mr Wong told Singapore media on Friday (Jul 3), at the end of his two-day trip to the capital Dili.There is "a lot of room for optimism in Timor-Leste's long-term potential", he said. "They are a young nation, youthful population, they have the resources, they have the potential to grow much more than where they are now."Mr Wong said Timor-Leste's status as an emerging economy would also present challenges for Singaporeans looking to invest there.
“For businesses coming into any emerging market, they have to come in with their eyes open, recognising that there are always going to be complexities when you go overseas – businesses have to take the long view and have to find good local partners,” he said.“That's something that businesses need to know how to do. Governments cannot guide businesses in making these decisions.”Mr Wong met a group of 50 to 60 Singaporeans based in Timor-Leste on Thursday, and said he was encouraged by the exchange. “Small though they may be, but there have been many who are here, have been here for a long time, they have sunk roots here, and some of them have indeed started businesses in a wide range of different areas,” he said.
