Government Resolution No. 50/2023 on the National Industry Development Policy.

This Government Resolution establishes the National Industry Development Policy. Policy vision for 2030 are: promote National dynamic and innovative manufacturing industries, which supply the national market and contribute to increasing exports, attracting private investment, creating jobs, promoting and diversifying the economy, and meeting the Sustainable Development Objectives and the Strategic Development Plan 2011-2030. Elements of the Vision of Timor-Leste's National Industry Development Policy until 2030: Industrialization, in the short and medium term, of the strategic sectors of agriculture, forestry, fishing, tourism, mineral resources and civil construction, as industries based on local resources and, also, processing industries for export, but not based exclusively on local resources; Development of industries transforming raw materials and semi-finished products into final consumer goods, especially for export; Gradual replacement of imports of industrial products that can be produced locally; Gradual reduction of economic dependence on non-renewable sources of oil and gas; Contribution to Timor-Leste joining the ranks of upper-middle income countries, eradicating extreme poverty and establishing a sustainable and diversified non-oil economy. Complementary Sectors for Industrialization: 4.1. Agriculture and Forestry; 4.2. Fisheries; 4.3. Tourism; 4.4. Construction; 4.5. Manufacturing Industry; 4.6. Extractive Industries; 4.7. Oil and Gas; 5. Microeconomic Context.