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Japan investors willing to invest in the shipbuilding industry in Timor-Leste

Japan investors willing to invest in the shipbuilding industry in Timor-Leste

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DILI, 08 September 2023 (TATOLI)—A Japanese company Tsuneishi Shipbuilding is serious about exploring investment opportunities for the shipping industry in Timor-Leste, especially in the municipality of Manatutu.

The statement seen by Tatoli, explained that last Wednesday (06/09), the Japanese Ambassador to Timor-Leste, Tetsuya Kimura, and representatives from Tsuneishi Shipbuilding from Japan had held a meeting with the Acting Executive Director of TradeInvest Timor-Leste, Decio Ribeiro Sarmento, accompanied by the Director of Investment Promotion, Mr. Ezaquiel Babo.

“The purpose of the meeting was to facilitate companies’ interest in exploring investment opportunities in Timor-Leste,” Acting Executive Director of TradeInvest Timor-Leste, Decio Ribeiro Sarmento said on the official website.

It is said that the Tsuneishi Shipbuilding Company from Japan plans to invest in the shipping industry with the land requested to be used for its investment being 970 km2 in Manatuto Municipality

According to the plan, the private investment will offer a minimum of 4,000 jobs for the people of Timor-Leste will produce 10-12 ships per year, and expand its plans to build schools, hotels, and hospitals in the area.

Tsuneishi Shipbuilding has conducted business in three countries such as the TSUNEISHI Factory (Fukuyama City, Hiroshima Prefecture, Japan); TSUNEISHI HEAVY INDUSTRIES (CEBU), Inc (Cebu Island, Philippines) and TSUNEISHI GROUP (ZHOUSHAN) SHIPBUILDING, Inc (Zhoushan City, China).

During the meeting, the Acting Executive Director shared information about the benefits of incentives offered by the Government and explained the process for implementing the Benefits Declaration or Special Investment Agreement stipulated under the Private Investment Law No. 15 / 2017.

The government through TradeInvest Timor-Leste will support and facilitate companies to continue their investment projects that will benefit the Timor-Leste economy.

Timor-Leste’s Ambassador to Japan, Ilídio Ximenes da Costa, in his online interview with Tatoli revealed that he had previously coordinated with the Tsuneishi Shipbuilding Company until they were finally able to arrive in Timor-Leste.

“This will have a big impact in increasing employment opportunities, there will no longer be a need for ship repairs in Indonesia, and it will be possible to produce ships such as fishing vessels, oil and gas tankers, and others,” said the TL Ambassador in Japan.

The shipping industry or shipyard is a place that is specially created and equipped with various facilities to support the process of building, repairing, and maintaining ships. Overall, the shipping industry has a very important role for Timor-Leste, in terms of economy, tourism, maritime resource development, and maritime security.

Related News:https://en.tatoli.tl/2023/03/31/tl-govt-plans-to-establish-a-large-shipyard-to-reduce-ship-repairmen-budget-overseas/01/

 

Journalist: José Belarmino De Sá

Editor: Nelia B.

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