REGARDING COMMERCIAL TRANSACTIONS IN TIMOR-LESTE

 

On the 13th of August, the entry into force of Decree-Law No. 12 / 2024, of February 13, to establish a general legal regime that will apply to transactions, registration and electronic signature, as well as its use, in particular, in the area of e-commerce.

The approval and entry into force of this legal diploma takes place in a number of reform frameworks that have been established by the IX Constitutional Government it is increasing with the aim of increasing the dynamics and transparency of economic activity and contributing to improving the business environment, making it easier and attractive to trade in general and, in particular, to facilitate commercial transactions in Timor-Leste.

In the way of context, the Ministry of Commerce and Industry encourages the store, the establishment of all commercial companies to work, from now on and with their Trade banks, to obtain the necessary equipment to create technical conditions that make it possible for citizens to have options in commercial transactions, in order to liquidate the values in money or by electronic means.

The Ministry of Commerce and Industry believes that the competent institutions of this country will, in enough time will take initiative to update the legal framework for electronic payments, and therefore it is important that all stores, institutions and commercial companies are preparing for this new digitalisation reality.

I take this opportunity to re-renovate my appreciation for your dedication and continued work to ensure the normal supply of the population and the regular functioning of the market in Timor-Leste.

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