Oé-Cusse, Timor-Leste (18 February 2022): On 18 February 2022 the President of RAEOA H.E. Mr. Arsenio Paixão Bano formally closed the Oé-Cusse Incubator Business Incubator (OBI) Business Pitch in Maxorilin Hotel, Pante Macassar, Oé-Cusse. The OBI program was established by RAEOA-ZEESM TL, through the Regional Secretary of Commerce and Industry in partnership with the United Nations Development Program (UNDP). The aim of the program is to foster sustainable livelihoods in Oé-Cusse through small and medium enterprises (SMEs) development, and to build regional capacity to promote an enabling business environment.

The business pitch is the peak event 2022 OBI Competition that aims to promote and improve entrepreneurial ecosystem in RAEOA. The competition also encourages entrepreneurial youth, women, and people with disabilities to come forward with feasible and innovative business plans.

The competition started with OBI socialization in all sub-regions of Oé-Cusse in May 2021 and engaged more than 500 people across the region. One 135 people were selected to attend two business camps on how to generate innovative business ideas and develop bankable business plan. Eventually, 24 entrepreneurs were selected to move forward for business pitch in three main categories: Tourism, Agriculture and general services. Winners of the competition are awarded with equipment and tools in accordance with the nature of their businesses.

In his closing remarks, H.E. Mr. Arsenio Paixão Bano mentioned the importance of entrepreneurships for economy development and growth. H.E. congratulated entrepreneurs on completing the business competition but also reminded participants that is only the beginning of hard work for the sustainability of their businesses. The President of Authority hoped, with business knowledge and skills gained from the OBI, entrepreneurs could improve their access to micro credit for MSMEs.

For further information on the Oé-Cusse Business Incubator contact Mr. Samuel Poli at samuel.poli@undp.org or 78458334.