Timor-Leste, September 7, 2012—IFC, a member of the World Bank Group,
will help Timor-Leste’s Chamber of Commerce and Industry improve access
to training and information for its 100 plus members in an effort to boost
business growth and job creation in the country.
IFC will help the chamber develop an
annual action plan, clear operational and human resources policies, and
a system for monitoring and reporting member activities over the next 12
months. IFC will also assist the chamber in devising more services for
its members and ways to better communicate with them.
“Developing staff skills and improving
systems, policies and planning efforts are critical to enhancing our operations
going forward,” said Julio Alfaro, the chamber’s president. “More importantly,
these changes will help us better serve the business community and engage
the government on issues that matter to the Timorese private sector.”
The chamber will develop a communications
plan to keep members up-to-date of its policy positions and efforts to
further the interests of the private sector and reflect their concerns
to the government. The chamber also plans to establish a mechanism to collect
feedback and recommendations from businesses.
“By helping the chamber improve its
operations, we are ensuring that entrepreneurs have better access to useful
information, tools, and support in all areas of doing business,” said
Sérgio Pimenta, IFC’s director for East Asia and the Pacific. “The chamber
will also provide a springboard for entrepreneurs to start their businesses,
helping build a vibrant private sector and a strong economy that benefits
Improving the business environment in
Timor-Leste is a priority for IFC. IFC supports recent reforms to simplify
business registration and licensing processes, which reduced the number
of days needed to register a company to an average 19 days from 65 days.
IFC is also improving access to finance
for entrepreneurs, particularly women in rural areas, through its partnership
with Timor-Leste microfinance organization Moris Rasik. We are helping
the government partner with the private sector to build infrastructure.
IFC partners with Australia, Japan and New Zealand to provide advisory
services in Timor-Leste.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
In FY12, our investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark innovation,
and tackle the world’s most pressing development challenges. For more
information, visit www.ifc.org.