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Ten companies present investment proposals to TradeInvest

Ten companies present investment proposals to TradeInvest

TradeInvest Acting Executive Director, Ezequiel Babo/Image TradeInvest

DILI, 22 may 2024 (TATOLI) – Since january, the Investment and Export Promotion Agency, I.P (TradeInvest Timor-Leste) has received ten investment proposals from ten companies wishing to invest in the country, five national and five international.

According to the TradeInvest Executive Director, Ezequiel Babo, the investment proposals, worth US$16 billion, covering sectors such as hotels, tourism, shipbuilding, hydroelectric power, agriculture, and fishing.

Babo said that Bruneian Stratacom Global intends to invest US$13 billion in various projects, including the construction of hotels, hydroelectric power stations, industrial zones, the rehabilitation of the Dili Convention Centre, as well as investments in agriculture and fishing in Lautem municipality.

The Japanese company Tsuneishi Shipbuilding is willing to invest US$300 million in the construction of a shipyard, a harbor, a hospital, and an educational establishment in Laleia, in the municipality of Manatuto.

East National Tobacco Holding, from Hong Kong, intends to invest US$7.5 million in the tobacco industry, and the Chinese company Timor South Sea Fishery Development, with an investment capital of US$10 million, intends to invest in fisheries in Manatuto.

The Malaysian company Qulina intends to invest US$30 million in the processing of non-alcoholic drinks in Dili and Liquiça, and the Indonesian company Timor Food wants to invest in the agricultural sector, namely in rice production in the municipality of Covalima. 

About the investment proposals from the national companies, Babo said that Daya Beverages Timor intends to invest US$1.9 million in the beverage industry and KTON S.A. plans to invest US$3 million in the coffee industry in Ermera municipality.

Meanwhile, Funan Santalum intends to invest five thousand dollars in animal feed production, KNR Initiative is willing to invest US$430,000 in the tourism sector and Nutri Superfoods aims to invest US$5,000 in food production and agriculture.

TradeInvest is a state agency that provides services to domestic and foreign companies. With regard to the latter, the agency, among other things, establishes contacts with companies that provide professional business services, such as legal, accounting, or consultancy services, finds state or private land suitable for investment projects, and facilitates communication with the Land and Property Directorate, as well as supporting company registration processes and processing benefit applications.

 

Journalist: Jose Belarmino de Sa

Editor: Filomeno Martins 

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