Timor-Leste emerges as a new serious, safe and secure online gambling jurisdiction
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Timor-Leste, one of the strongest democracies in Southeast Asia, is taking further strides to become a new jurisdiction in the online betting and gaming sector as complement to regimes in Malta and the Isle of Man.
The Virtual Gaming Association of Timor-Leste (VGA) hosted a special industry event on Friday 2 of February which revealed further details about the proposed regulatory framework.
The VGA will be recommending to the Timor-Leste government that it issues both B2C and B2B licences; regulation will be modelled on Malta and the Isle of Man rules; and licences will be issued in Q2 or Q3 of this year. VGA will be conducting a consultation process with the industry to further refine its regulatory approach.
�It was a great honour to host an event in London representing Timor-Leste and welcoming President Ramos-Horta as speaker. Our focus at the VGA is support Timor-Leste as jurisdiction that meets, and exceeds, best practices in online gambling regulation and licensing.
Timorese President Jose Ramos-Horta, who was on an official visit to London, spoke at the event about the economic opportunities currently available in Timor-Leste.
At the event in London, SOFTSWISS and Vittoria Services signed agreements with Capital Group Timor-Leste which represent the first 120 new jobs in a new BPO (Business Process Outsourcing) project, including customer care services, set to begin operation in Dili, capital of Timor-Leste, in the next few months.
The BPO, currently being fitted out in the newest building in Dili, ETO Tower, includes a training facility where up to 100 operators and supervisors will receive training before being hired.
�This project is particularly important for Timor-Leste, a country in need of more job opportunities for young people, and where around 70% of the total population is under 30 years old. It represents a significant investment by Capital Group and also showcases the importance of private sector initiatives towards economic development�, said Antonio Sampaio, Chief Operations Officer of Capital Ventures Timor-Leste.
For further information regarding online gambling regulation and licensing, please contact info@vga.tl and for further information regarding BPO, please contact info@capitalgroup.tl
