DILI, 25 may 2022 (TATOLI) – Coordinating Minister of Economic Affairs (CMEA), Joaquim Amaral, together with the founder and chairman of East Timor Trading Group (ETTG), Sakib Awan, accompanied by the Secretary of State for Communications, Merício Juvinal dos Reis “Akara” and partners on tuesday lay the foundation stone of development projects worth US$20 million called Discovery Business Industrial Zone.
The twenty-eight warehouses all with office space will be established in two phases over the next two to four years.
The construction would be kicked off in the next quarter of this year and is estimated to be finalized by the end of 2023.
This multi-purpose project will help grow Timor-Leste’s Economy by attracting foreign investments, exporting goods overseas, and creating job opportunities.
The CEO of the East Timor Trading Group (ETTG), Samitha Aluwihare said Discovery Business Industrial Zone will attract more investment into Timor-Leste.
“We believe that Discovery Business Industrial Zone will provide the ability for foreign investors to start operating their business here in Timor-Leste from day one,” Aluwihare made the comments at the foundation stone-laying ceremony, in Delta, in Dili, on tuesday.
In addition, the US$20 million development project was also believed to facilitate the export of goods overseas.
“One of the visions for East Timor Trading Group over the next five to ten years is to start looking at products that people want in other markets such as Australia, New Zealand, and Amerika, and they can buy them from Timor-Leste,” Aluwihare stressed.
“This is the first step to start looking at exporting overseas. These products could be used for domestic consumption, but we also believe that it’s important to look at the export so that we can help grow the economy in Timor-Leste and improve the livelihoods.”
Discovery Business Industrial Zone is said to be the area where simple skills, particular roles, and technical skills will be able to produce locally. Thus, it would help to create job opportunities for the locals.
He said Discovery Business Industrial Zone would employ nearly 3.000 employers, and of the 28 warehouses, each would hire more than 50 employees: “Some units will be able to employ more than 100 people. So, it can be estimated that from 1.400 to around nearly 3.000 people would be employed in this business industrial zone.”
Since its establishment in june 2002, East Timor Trading Group had been operated as an import and distribution company. Currently, it employs nearly 200 people over 90% are Timorese nationals.
“We represent over a dozen multinational brands in the country. Such as now we reinvest in other businesses in the country with the master franchisee for Burger King, Gloria Jeans, and Elzelato,” said Aluwihare
Aluwihare expressed his deep appreciation to MAKE and SECOMS and other partners for taking part in the foundation stone-laying ceremony:
“We are very grateful to Minister Amaral for being here today to show the collaboration between the private and public sector.”
On behalf of the Government of Timor-Leste, Minister Amaral congratulated and appreciated ETTG’s commitment to initiating such a big investment in Timor-Leste.
Amaral reiterated the government’s commitment to continue to support the private sector in Timor-Leste in promoting economic growth through the implementation of such a development project.
“The project of the Discovery Business Industrial Zone will open new opportunities for local and international companies that are awaiting to do business in this country. The government will improve the legal framework governing business firms to ensure legal protection for companies in the country,” he said.
Journalist: Filomeno Martins
Editor: Nelia Borges
