[{"bbox": [96, 159, 1135, 279], "category": "Text", "text": "**Telecommunications companies.** These can play an essential role in supporting the dissemination/mainstreaming of financial digital cybersecurity skills, and promoting the availability and usage of financial platforms and participate in enhancing operational cybersecurity (including incidence response and critical information infrastructure protection)."}, {"bbox": [96, 287, 1135, 438], "category": "Text", "text": "**CSOs.** Women's organisations, youth, community and people with disability's organisations, and business and entrepreneurship entities, including the Chamber of Commerce and the Women's Business Organisation, will be among the main beneficiaries for digital and financial literacy and digital payments initiatives. Also, CSOs are important partners in designing digital e-governance services and raising public awareness on digitalisations, skills and digital literacy."}, {"bbox": [96, 446, 1135, 535], "category": "Text", "text": "Additionally, **two microfinance institutions**, Kaebauk Investimentu no Finansas SA and Moris Rasik, are obtaining licenses as Other Deposit-Taking Institutions. Two Fintech companies, Telemor Fintech, Lda, and Tellin Digital Solution, Lda, are also part of the landscape."}, {"bbox": [85, 559, 499, 588], "category": "Section-header", "text": "## 2.3 Additional Areas of Assessment"}, {"bbox": [85, 604, 287, 632], "category": "Section-header", "text": "### 2.3.1 Public Policy"}, {"bbox": [96, 652, 1135, 833], "category": "Text", "text": "**Progress of ongoing reforms.** Since 2022, significant advances have been made in public finance reform in Timor-Leste. The most notable milestone was the approval in December 2022 of the first PFM Reform Strategy in December 2022-2027. The legislation basis of the reform was enlarged with the approval of the Budget Framework Law (Law 2/2022 of 10th February), the Law of Municipal Finance Law (Law 16/2023 of 31st May), and some relevant secondary legislation such as the approval of decrees on budget programme (Decree-Law 18/2022 of 11th May), and budget classifications (Government Decree 19/2022 of 11th May)."}, {"bbox": [96, 841, 1135, 1022], "category": "Text", "text": "The new government is also revising the public procurement law (Decree-Law 22/2022 of 11th May) and expects to approve the revised text in 2024. And even though Timor Leste is at the beginning of its Green Public Procurement (GPP) Journey, this revision already includes provisions related to GPP due to the Green Public Procurement Technical Advisory supported by the European Union-funded SWITCH-Asia programme. The initiative will also be able to support the government in developing a GPP Roadmap that aligns with other countries in the region."}, {"bbox": [96, 1030, 1135, 1120], "category": "Text", "text": "Some other legislation is in the pipeline, like a new tax law to replace the Tax and Duties Act and legislation on the VAT and the MoF's Five Year Strategic Plan 2024-2028 is expected to provide continuity to the PFM Reform Strategy adopted in 2022."}, {"bbox": [96, 1128, 1135, 1309], "category": "Text", "text": "**Public investment and procurement management.** These are two critical domains of the PFM management system that can contribute to the efficiency and effectiveness of public expenditure. Progress was recently made in those domains. The government developed the main national standards, programming, and managing tools between 2016 and 2023. The main tools include Feasibility study Guidelines, Projects Appraisal Guidelines, Ex-post Evaluation Guidelines, and an Administration Manual. A Project Brief Standard Form was also developed between 2017 and 2022, together with a database for project management."}, {"bbox": [96, 1317, 1135, 1528], "category": "Text", "text": "The public investment management system's main legal, institutional, organisational, and programmatic pillars are already in place in Timor-Leste, but their operationalisation can still be improved. The consolidation of these pillars has been carried out over the last few years. It is presently in the process of consolidation. The recommendation based on the previous PIMA (not published) on project selection has been followed according to the data released by the informative document on the Fund Infrastructure published together with the Budget report for 2023, which provides concise statistics on the number of proposals submitted to the Fund by the line ministries, including those that should be submitted to appraisal."}, {"bbox": [96, 1537, 1135, 1626], "category": "Text", "text": "At the central level, the implementation of some procurement processes in line with the new legislation (Decree-Law 22/2022 of 11th May) is underway. However, there are still challenges in the interpretation of the law, which need to be addressed. The National Planning Commission, with the support of technical assistance, has developed"}, {"bbox": [1023, 1679, 1142, 1706], "category": "Page-footer", "text": "Page 10 of 41"}]