DILI, 17 august 2023 (TATOLI) – An Australian company called Precision Solutions Group (PSG), whose owner is an INTERFET veteran, provided $6 million to invest in the textile manufacturing industry in Timor-Leste.
Director of PSG, Richard William, accompanied by TL Ambassador in Australia, Inês Almeida, and Trade Invest TL staff, held a meeting with Deputy Prime Minister, Coordinating Minister for Economic Affairs, and Minister of Tourism and Environment (DPMCMEA), Francisco Kalbuadi Lay, to discuss textile factory investment in Timor-Leste.
“We decide that Timor-Leste is a central market that we will not exploit; our manufacturing industry will protect the environment and people’s lives. We don’t want exploitation like what happened in other countries,” PSG Director Richard William claimed last Wednesday in Farol Dili.
He added that Textile manufacturing is one of the major types of industry based on the change from fiber to yarn, then to clothing, and finally to textiles. The textile is then made into clothing or other objects.
Cotton is the most important natural fabric. The process involves weaving, fabric formation, finishing, and coloring. The complexity of these processes can produce a wide range of products.
PSG asks the government to see a mechanism that is able to support the development process by providing training for Timorese workers to encourage industry in the future market to be better. “We want to do something to discourage the Timorese converts from working abroad,” he highlighted.
Richard William emphasized that with an investment value of $6 million, it was able to create jobs for 1,200 Timorese workers, and monitoring of domestic and regional market demand would be carried out.
Echoing the statement of the executive of PSS, the Deputy Prime Minister, Coordinating Minister for Economic Affairs, and Minister of Tourism and Environment, Francisco Kalbuadi Lay, said It is a very positive plan from an Australian company for the investment in a textile factory.
“The company is also intended to provide training to Timorese workers to work on the production program. It helps TL respond to the international market in the United States and Europe,” he said.
The Deputy Prime Minister said the government of Timor-Leste will focus on boosting economic development through this textile investment.
So far, Richard William is the Managing Director of PSG, an intelligence services company that exists to combat critical social issues.
He was also an officer in the Australian Army and Special Forces for over 18 years before gaining commercial experience working on transaction teams at Australia’s leading private equity firms.
The owners of PSG Company were INTERFET (International Force for East Timor) veterans who carried out the UN peacekeeping mission in Timor-Leste in 1999. PSG itself will also attend the Dili Business Forum from September to October this year.
It is known that Richard was awarded the Distinguished Service Medal for his leadership in military operations. He holds a BA in Economics and an MBA from the Australian Graduate School of Management and is a graduate of the Australian Institute of Company Directors.
Journalist: José Belarmino De Sá
Editor: Rafael Ximenes de A. Belo
