DILI (TOP) - Government through Deputy Prime Minister (VPM) and Minister Coordinator for Economic Affairs (MCEA), Minister of Tourism and Environment (MTE), Francisco Kalbuadi Lay held discussions with the International Finance Corporation on how to improve and strengthen the development of the private sector especially in Timor-Leste.
“Today I and the entire team from MAKE as Deputy Prime Minister came to meet with David Freedman as Country Representative, and Keiko, where we discussed about cooperation in the future,” explained Vice-PM after discussions with members of the World Bank group in Lecidere-Dili, Tuesday, March 2026.
“We know that, a lot of things have been worked together between IFC and the government. Through today's discussion in the future will work together especially in the financial part, and also to further strengthen the private sector,” said Vice-PM.
The International Finance Corporation (IFC) is a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets.
The discussion was also attended by the World Bank Group Resident Representative for Timor-Leste, David Freedman.
At the same time, Director of IFC Division for Southeast Asia and Pacific Islands, Keiko Miwa said, it was the first time to discuss this issue with the Deputy Prime Minister and felt very honored.
"This is the first time I have discussed with the Vice-PM. I feel very honored. Today we sat with the Vice-PM to discuss the exchange of ideas and perspectives on development in Timor, especially development in the private sector, tourism, micro, medium and small enterprises, agriculture, financial sector and other sectors," explained Keiko.
Keiko said, through this discussion agreed that, will strengthen partnership with the Government of Timor-Leste, and in the future look for ways to cooperate to develop the private sector and the entire economy.
Keiko Miwa is Division Director for Indonesia, Cambodia, Lao People’s Democratic Republic, Myanmar, the Pacific Islands, Papua New Guinea and Timor-Leste at the International Finance Corporation (IFC), a member of the World Bank Group. Based in Jakarta, he assumes this role on January 1, 2026.
Keiko Miwa, a Japanese national, brings two decades of leadership experience at the World Bank Group. Since joining the institution in 2001, she has provided strategic leadership and oversight across multiple regions, serving as World Bank Country Manager in Lao PDR, Practice Manager for Education in South Asia, and Education Global Practice Director. As Regional Director for Human Development in the Middle East and North Africa, she led the COVID-19 response in the Region.
Most recently, she served as Division Director for the West Africa region—covering Cape Verde, The Gambia, Guinea Bissau, Mauritania, and Senegal, where she led the preparation and implementation of the World Bank Group country partnership framework and strengthened partnerships with the private and private sectors to advance sustainable development and private investment. He oversees a $6 billion investment portfolio in five countries.
Keiko Miwa is a PhD in Educational Policy and Administrative Studies from the State University of New York at Albany.
On the other hand, TradeInvest Timor-Leste (TITL), on Thursday, March 12, 2026 also received an official delegation of Hong Kong from Jakarta, Indonesia to discuss strengthening economic relations and promoting investment opportunities between the two countries. This meeting is important to hear ideas and discuss the potential for cooperation and opportunities to attract foreign investment to Timor-Leste.
The Hong Kong delegation was led by the Director General of the Hong Kong Economic and Trade Office, Libera CHENG, accompanied by the Deputy Director for Commercial Relations at the Hong Kong Economic and Trade Office, Stanley Wan, and a representative from Invest Hongkong. While the team from TradeInvest, led by the Director of External Relations and Marketing, Roberto Lai accompanied by the Director of Investment Promotion Directorate, Ezaquiel Babo with the managers.
During the meeting, the two sides discussed important issues such as investment promotion, business facilitation, and cooperation opportunities in strategic sectors that can contribute to the economic development of Timor-Leste. The meeting also served as an opportunity to strengthen institutional relations between the investment promotion side of Hong Kong and Timor-Leste.
Through this meeting, both sides hope to pave the way for strong collaboration, to benefit the business community and contribute to sustainable growth in both countries.
