DILI, 22 August 2023 (TATOLI)- Trade invests Timor-Leste (TI-TL) actively monitored and evaluated the performance of investors, aiming to ensure sustainable investment in Timor-Leste.
The Executive Director of TradeInvest Timor-Leste, Arcanjo da Silva, said that TradeInvest has a vital obligation and rules to actively monitor the investors who have received a Declaration of Benefit certificate to guarantee sustainable investment in this country to boost economic development.
“We are monitoring the companies that we have given certificates of declaration of benefits; everything is running smoothly, and even though there have been ups and downs, what needs to be known is that due to the COVID-19 pandemic, local investors have increased,” Arcanjo da Silva explained exclusively to Tatoli in the TradeInvest office in Colmera.
He explained that the monitoring process was carried out in an integrated manner with representatives from the tax authorities, customs authorities, TradeInvest, SERVE, the environment section, and the general work inspection, which aims to see if an agreement exists between workers violating the rules or not, salaries, and others.
Likewise, Director of Investment and Investor Promotion, Ezequiel da Costa Babo, explained that from 2019 to 2023, 55 investors submitted proposals to obtain declarations of benefits or applied for investment certificates or declarations of benefits in special investment agreements.
“Of these 20 investors, one investor received a special investment certificate and another five special investors have not been approved because they have not agreed to the document verification process and negotiations,” he stated.
Of the 20 TradeInvest investors, 11 FDI investors and nine NDI investors have been awarded investment-type certificates with a total investment value of $1.2 billion. Of these funds, investors have invested $314.4 million.
The investments made consist of the Tibar port, the agricultural sector, fisheries, the drinking water industry, and others, as well as providing direct and indirect employment for 3,199 workers. In addition, over the past four years, 20 investors have received customs incentives worth $7.7 million.
Journalist: José Belarmino De Sá
Editor: Nelia B.
