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IFC Supports Timor-Leste’s Chamber of Commerce, Boosting Training and Resources for Businesses

Dili , 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 the community.”
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.
About IFC
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 .
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