Thousands of Timorese gathered at the city of Ermera to celebrate their southeast Asian nation's independence this month. Timor-Leste gained its freedom in 2002 and since then has relied heavily on revenue from its oil and gas reserves to fund development.
As reported by Channel NewsAsia, however, declining oil production, leading to falling revenue, has highlighted the need to diversify the economy.
Prime Minister Rui Maria de Araujo said the government has taken steps to reduce dependenc...
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