This strategy builds on existing policies, including the Timor-Leste Strategic Development Plan 2011-2030 and the 2020 Economic Recovery Plan, the constraints arising in the wake of the COVID-19 pandemic, and aligns with existing processes aimed at achieving economic integration with ASEAN and accession to the WTO. Private sector development will be crucial to maximize the benefits of Timor-Leste's trade reform. The aim of this policy and strategy is to contribute to economic growth and prosperity by: Increase the number of companies operating in Timor-Leste; Increase the number of private sector investments; Promoting the growth of employment opportunities in the private sector; Expand the availability of credit to be granted by financial institutions. The main focus will be developing access to international markets to support demand for domestically produced goods and services. SMEs are the key to stimulating Timor-Leste's economic recovery, allowing to get more opportunities for employment, education and training and to increase domestic production.
It will therefore provide greater opportunities to improve the integration and participation of women, youth and people living in regional communities. The policy and strategy will focus on prioritizing existing reforms that benefit the private sector, addressing obstacles to private sector development and providing incentives and support for companies to establish and operate in Timor-Leste. The main key pillars of private sector activity in Timor-Leste include: Oil, Gas and Mining; Agriculture; Fishing; Agri-business and Horticulture; Tourism; Manufacturing including food products for domestic and foreign markets.