Government of Timor-Leste

The international company Heineken signed, on January 8th, a formal investment agreement with the Government of Timor-Leste. This international Dutch company, the third biggest beer producer in the world, will invest around 40 million dollars on the construction of a beverage company near Dili. The project, planned to be up and running within two years, shall create 200 direct jobs and 800 indirect jobs.

At the Signing Ceremony, the CEO of Heineken Asia Pacific, Roland Pirmez, spoke highly of  the negotiation process undertaken with the Government and stated  that “Timor-Leste has an excellent environment for foreign investment”.

To the Vice Prime Minister, Fernando La Sama de Araújo, this partnership shows that the country is gaining the confidence from big international companies. “The Strategic Development Plan of Timor-Leste 2011-2030 foresees that future sustainability of the nation relies on  establishing a  mature private sector”, referred the Vice Prime Minister, guaranteeing that the Government “will give priority to building a business and investment environment that supports the start up and expansion of the sector”.

Even before the signature of this agreement, on January 1^st, the Government of Timor-Leste established the Specialized Investment Agency (www.invest-tl.com). According to the Secretary of State for the Support and Promotion of the Private Sector, Veneranda Martins, this agency’s mission will be “to attract investment to diversify the economy and reduce dependence on oil”.