Nicolau Lobato Presidential Palace (April 11th, 2024), President J. Ramos-Horta of the Republic of Timor-Leste met with Rogerio Lobato, the President of the Authority of the Special Administrative Region of Oe-Cusse Ambeno (RAEOA), at the Presidential Palace earlier today.

According to sources, the meeting began with Rogerio expressing his gratitude to President Ramos-Horta for his recent visit to the Oe-Cusse region during the Holy Week of Easter. The visit was seen as a gesture of the President’s commitment to the development of the autonomous region.

The primary objective of the meeting, however, was to introduce a group of investors from Shanghai, China, who are interested in investing in the hospitality sector in Oe-Cusse. The group has expressed a keen interest in rehabilitating and expanding the existing Oepo Hotel, a project that has been abandoned for a considerable period.

The Chinese investors are reportedly prepared to invest around $70 million USD to revamp and expand the Oepo Hotel, a move that is expected to significantly boost the tourism potential of the Oe-Cusse region. A Memorandum of Understanding (MOU) has already been signed between the local government and the investor group.

President Ramos-Horta was said to have expressed his appreciation for the initiative taken by the Chinese investors, highlighting the longstanding and positive relationship between Timor-Leste and China. The President’s endorsement of the project is seen as a positive sign for the future development of the Oe-Cusse region.

Media PR//