MTCI grants financial support for the development of innovative business group
DILI, 12 april 2022 (TATOLI)- Minister of Tourism Commerce and Industry (MTCI) granted financial support for developing the innovative business group.
The Vice minister of MTCI, Domingos Lopes Antunes said there are some competitive innovative groups that have been assisted with financial support to further develop their business activity.
“MTCI is required for the innovative groups to access the financial support. The groups must provide the creative area and produce the innovative product which is valuable for the business sector,” The Executive told TATOLI Agency, at his office, Fomento on this tuesday.
According to the vice-minister, there are 290 groups across Timor-Leste that have participated in the competition. The groups are associated with the Camber Commerce Industry of Timor-Leste (CCI-TL).
Thus, 29 innovative groups are approved and deservedly granted financial support through a very competitive competition.
The groups are composed of Silgom wood carving ($5,110.00), Foinsa’e Kreativo Liquiça group ($ 8,563.00), Arte Rustico de Boaventura (8,563.00), Dimension workshop ($6,74.50), Wacunana, HiHA (Hamosu idea ho asaun) ($ 5,335.00), Lami Pizza ($6,163.40), Milrex Rego (9,675.00), Koperativa Multisektoral Kik&F ($7,857.14), The Corner Store Networking Dili ($9,646.26), Sumu Herbal Saudades ($3,620.00), Rezerva TL ($3,300), Kafetaria Saudes ($7,247.70) and other.
It is also in coordination with the United Nations international agency (UNDP-United nation development program) through “Knua Juventude Fila Liman,” Mr. Antunes said.
The innovative groups are coming from 13 municipalities including the special administrative and economy region of Oe-cusse Ambeno RAEOA.
The MTCI and development partner has a commitment to help innovative groups to gain some revenue.
MTCI will be a connected innovative group for the soft loan program. It is to help the groups to more develop their business activity.
MTCI has provided $.200.000 in 2021, and UNDP is provided $.40.000 for promotion of innovation business plan. This year the MTCI is provided more the amount of $.100.000.
Related news:MTCI promotes economic diversification for local companies through the soft loan program
Journalist: José Belarmino De Sá
Editor: Rafy Belo
