Welcoming 2019, 17 years after restoration of East Timor independence, is still one of the poorest countries in Asia today due to the after effect of their independence struggle against their Indonesian neighbors. Nevertheless, the Timorese people are strong willed to make a change.

During the 2019 National Budget, Prime Minister Taur Matan Ruak presented in confidence, "the first budget, which aims at realizing the vision of Timor-Leste, by 2030, in a rich, strong and secure country, a more prosperous, modern and developed country’’.

Thus, marking an end to a period of uncertainty with renewed hope and confidence in the beginning of a new cycle of political, economic and financial stability, with a forecast of 5.9% annual growth accompanied by improved living conditions, with the resumption of household consumption "and the boost to private investment, through "the implementation of large projects implemented by Public-Private Partnerships”

The Prime Minister also noted that the four pillars defined by the National Strategic Development Plan (NSDP 2011-2030), which were also incorporated into the five major development priorities of the VIII Constitutional Government, namely: development of infrastructures, development of social capital, development of the economy, government consolidation and anti-corruption"

Invech Group

Invech Group is a consortium of companies with young and dynamic entrepreneurs coming from Malaysia, Indonesia, Hong Kong, China and Timor Leste. Our businesses and expertise ranges from information technology, healthcare, construction, education, logistics, tourism, agriculture, mining, finance and many more. Coming together, we realized that the Information Technology, specifically the ‘blockchain technology’ is the future. We envision the blockchain technology with its decentralization is going to be a disruptive force across industries. Governments and businesses have largely functioned via centralization. Someone or some organization sits in the middle, making the rules, and taking a toll (either taxes or fees) for providing a function. We can now leverage on this technology, take out the middleman, and enable highly functional decentralized entities.

Taking note of East Timor’s long history with the Portuguese since the 15th century and the Indonesian occupation that span for more than 2 decades, Invech Group has decided to take their business in East Timor. As they saw a huge opportunity to expand their business while advocating Invech’s charitable cause to aid the young country. They believe that taking this bold step into East Timor will not only benefit the company, but also the country as a whole. And at the same time creating the first blockchain smart city in the world. 

Charitable cause 

Along with their business experience and expertise, Invech wants to develop its own blockchain and cryptocurrency while applying it for a national level. Invech has done its research and found out that Timor Leste is the best country to apply this objective. While Timor Leste maybe the test ground for Invech’s development, it also brings many benefits to the people of Timor Leste in terms of information technology, economics and infrastructural development. 

Implementation

There are many developed countries who wants to apply this method (blockchain), however this method is in the infancy stage in many countries, complicating the process of implementation. That being said, Timor Leste is a young country. Alongside a supportive government and proper company management, implementing or executing a new method is less complicated and short termed in a young country compared to a developed country. In terms of feasibility, it is viable and bankable. Thus, allowing foreign direct investments and brain gain.

As evidently seen in other developing countries, such development endeavor takes at least 20 – 25 years to reach a certain level of maturity – for the next generation. However, with the advancement of technology, in the 21st century, with the right moves and the right assistance, young nations are presented with the unprecedented opportunity to fast track growth by 3-4 times! A young country like Timor Leste has the advantage to catch up and potentially stay ahead by constructing a socioeconomic ecosystem with more efficient, secure and transparent methods – using blockchain and cryptocurrency – led by Invech Group, hand in hand with the people of Timor Leste.

The time is Now. Let us achieve it with this generation.