Building East Timor (Timor Leste) (18 images)

In Dili, the seaside capital of East Timor, the ripple effect of money generated from the country's oil and gas resources can easily be seen in the numerous construction sites that dot the city. But so far the country's resource wealth isn't really benefiting ordinary East Timorese citizens. Most of the government funded construction projects under taken in 2009 were cosmetic--superficial upgrades like new government buildings. But in the coming years, the revenue generated from East Timor's...
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In Dili, the seaside capital of East Timor, the ripple effect of money generated from the country's oil and gas resources can easily be seen in the numerous construction sites that dot the city. But so far the country's resource wealth isn't really benefiting ordinary East Timorese citizens. Most of the government funded construction projects under taken in 2009 were cosmetic--superficial upgrades like new government buildings. But in the coming years, the revenue generated from East Timor's oil and gas and how that money is invested (or squandered), will, to a large extent, determine whether the country blossoms into a sustainable economy, or whether it remains Southeast Asia's poorest nation.
East Timor has only a limited amount of oil and gas under its territory and right now almost all the country's government budget comes from a $5 billion petroleum fund, established with income generated from the Bayu Undan project in the Timor Sea. An even larger oilfield, Greater Sunrise, is yet to be developed, delayed most recently due to a dispute regarding where the natural gas should be piped for processing. What East Timor desperately needs is investment in viable infrastructure projects and social services, as well as development of industry which in turn would create more local jobs. So when development of Greater Sunrise does get under way and revenue starts to roll in, the government needs to spend those funds wisely to ensure the country has the best possible opportunity of lifting itself out of poverty--because the East Timor's 1.1 million people may not get a second chance.
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