BUSINESS, INTERNATIONAL, HEADLINE

Five Chinese Companies sign donation agreement with Gov-TL

Five Chinese Companies sign donation agreement with Gov-TL

Image TATOLI/Jose Belarmino de Sa

DILI, 25 november 2023 (TATOLI) – Five Chinese companies, on friday (24/11) signed a donation memorandum with the Government of Timor-Leste at the Timor-Leste International Business Forum 2023.

The Government of Timor-Leste, represented by the Deputy Prime Minister, Coordinating Minister for Economic Affairs, and Minister of Tourism and Environment, Francisco Kalbuadi Lay, signed the Memorandum of Understanding (MoU) with five companies represented by the Chairman of Hongkong Goldway Holdings Limited, Yang Shiqing.

According to the MoU, both parties agreed that donors would voluntarily provide donated goods to recipients, such as:

  • 12 Vehicles – supported by the Hongkong Goldway Holdings Limited,
  • Construction of 1 Hospital – supported by the Guangdong Guofengyuan Holding Group,
  • 200 Scholarships – provided by the Wenchang Heng Ye Industrial Co., Ltd,
  • 20 units of houses – supported by the Guangdong Lufeng Jinghai Industrial Co., Ltd,
  • 2 units of petrol pump – provided by the Guangdong Beilin Energy Equipment Co. Ltd.

“The Donor for this cooperation comprises Five (5) Chinese Enterprises: Hongkong Goldway Holdings Limited; Guangdong Guofengyuan Holding Group; Wenchang Heng Ye Industrial Co., Ltd; Guangdong Lufeng Jinghai Industrial Co., Ltd; and Guangdong Beilin Energy Equipment Co. Ltd. The Donor commits to contributing to development and welfare initiatives by providing the support and donated items. The Recipient acknowledges and appreciates the generous contributions made by the Donor, committing to ensuring a fair and equitable distribution to the community and relevant government institutions identified by both Parties,” said in a statement.

The statement explained that: “For each support and donation, the Recipient will prepare a separate implementation plan, outlining the strategy, process, and actions that encompass all aspects of the project, from scope to budget and beyond. The implementation plan will be elaborated in collaboration with each Donor after the signing of the Memorandum.”

“The Recipient is responsible for transparent and integrity-focused implementation and distribution of the support and donations provided by the Donor. The implementation and distribution process will be transparent, and the Recipient will register and maintain records of the support and donations activities. The Donor has the right to know, supervise, inquire, and copy materials related to the management and use of the support provided to the Recipient under this Memorandum.”

“The Recipient ensures that the donated items are used for the intended purposes, benefiting the community, and promoting economic development. The Recipient shall use the donated items as agreed, and any change requires written consent from the Donor,” the statement added.

This MoU is effective from the date of signing until the completion of the implementation, distribution, and utilization of the support and donated items. 

This MoU constitutes the entire understanding between the Parties. Amendments must be in writing and signed by both Parties.

This MoU was signed in six original copies, each intended for the respective Parties, and it comes into effect on the day of the signing by Parties.

Kalbuadi said that the 200 scholarships to be awarded by Wenchang Heng Ye Industrial Co., Ltd will contribute to boosting the development of the country’s human resources.

He said that the value of all the donated items is estimated at around US$300 million.

The signing of the MoU was witnessed by the Chairman of the Hongkong Goldway Holdings Limited, Mr Wong Kan Lek, the Chairman of the Guangdong Guofengyuan Holding Group, Mr. Haiyuan Li, the Chairman of the Wenchang Heng Ye Industrial Co., Ltd., Mr. Tsoi Chor Sang, the Chairman of the Guangdong Lufeng Jinghai Industrial Co., Ltd., Mr. Zheng Wei Shan, and the Chairman of the Guangdong Beilin Energy Equipment Co., Ltd., Mr. Jianhuai Lin.

On the same day, nine business cooperation agreements were also signed between the government and international and local companies for investment in Timor-Leste.

The agreement covers a number of key areas, including agriculture (fisheries, egg farms, sugar cane production),  cement industry, air mobility industry, tourism, cosmetic industry, etc.

The Deputy Prime Minister expressed his heartfelt appreciation for all the support and initiative of international businesspeople who are committed to supporting and investing in the country.

 

Journalist: Jose Belarmino de Sa

Editor: Filomeno Martins

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