Oecusse, Timor-Leste – December 12, 2024 – In a landmark move to bolster innovation, commerce, and international investment, His Excellency Rogerio Tiago De Fatima Lobato, President of the Special Administrative Region (SAR) of Oecusse, and Core Management Corporation (CMC) represented by Executive Chairman Dr. Ken Lim, Executive Director Mr. Vincent Yeoh and Head of Legal Mr Jonathan Chan have formally signed an agreement to advance the region’s economic landscape.
The agreement, signed on December 12, 2024, marks the official designation of the Oecusse Digital Centre (ODC) as a Free Trade Zone (FTZ). This status aims to position the ODC as a leading hub for innovation, commerce, and digital services. The FTZ status will create an attractive environment for global businesses, offering numerous incentives and fostering a thriving ecosystem for technological advancement, digital entrepreneurship, and commerce.
In conjunction with this development, the Oecusse International Company Registry (OICR) has been officially established. As a dedicated offshore company registry, the OICR will deliver comprehensive commercial and banking solutions to international investors. The OICR offers a strategic platform for businesses to manage and expand their global operations, leveraging Oecusse’s advantageous regulatory framework and strategic location. This initiative aligns with the government’s vision of transforming Oecusse into a next-generation business hub in Asia.
Additionally, the ODZT – Oecusse Digital Zone Token, a first-of-its-kind utility token endorsed by the government, will be issued for settlement and circulation within the ODC. The OICR will be the first primary agency to utilize the token for payment settlements, promoting efficiency and transparency for international investors.
In further support of Oecusse’s modernization, Zchwantech Titan Lda, represented by Mr. Steven and Mr. Khoo, announced the signing of a Memorandum of Understanding (MoU) with the Oecusse Government to establish the National Digital ID and Seamless Travel Project. This groundbreaking project will introduce a state-of-the-art system for paperless immigration passthrough, significantly enhancing efficiency and effectiveness. With this initiative, Oecusse will become the second in Asia, after Singapore, to implement such a cutting-edge digitalization plan.
The entire project will be fully funded by Zchwantech Titan as a gesture of support toward national infrastructure development. This transformative project aligns with the government’s vision for modernization and will position Oecusse as a leader in digital governance and seamless travel solutions.
President Rogerio Tiago De Fatima Lobato emphasized the transformative potential of these initiatives: “The granting of Free Trade Zone status to the Oecusse Digital Centre and the launch of the Oecusse International Company Registry reflect our commitment to fostering innovation, attracting investment, and creating opportunities for sustainable economic growth. These milestones will pave the way for Oecusse to become a key player in the global digital and financial ecosystem.”
Dr. Ken Lim, Executive Chairman of Core Management Corporation (CMC), added: “This partnership represents a significant step towards enhancing Oecusse’s global competitiveness. The OICR and the FTZ status for the ODC will provide international businesses with a robust platform to thrive. We are honored to play a role in this visionary journey.”
Mr. Vincent Yeoh, Executive Director of CMC, further noted: “Our focus remains on delivering secure, efficient, and compliant solutions for international commerce. The establishment of the OICR is a testament to our commitment to facilitating seamless business operations for global investors.”
The Free Trade Zone and the OICR are expected to attract significant international interest, positioning Oecusse as a hub for innovation, commerce, and investment in the region.
About the Oecusse Digital Centre (ODC) The ODC is designed to be a fully blockchain-powered ecosystem, offering facilities such as an international company registry, a digital and innovation hub, an eGaming support center, as well as entertainment and shopping facilities.
About Core Management Corporation (CMC) CMC specializes in secure payment processing solutions and governance for the online gaming industry. Committed to excellence and compliance, CMC supports businesses with secure, efficient, and innovative services.
