The signing ceremony for the Special Investment Agreement with TL Cement, Lda., which substantiated the investment in Timor-Leste’s cement production, was held on May 17th, 2016, in Dili. This Agreement is based on Government Resolution N. 14/2016 of May 6th, approved at the meeting of the Council of Ministers of April 5th, this year.
During the ceremony an Investor Certificate was issued to TL Cement and a non-binding letter of intent was given to its representative, the Director, James Rhee, opening up the possibility for future Government participation in the investment of TL Cement. This letter demonstrates the Executive’s goodwill to provide support for the implementation of this project.
TL Cement’s total investment amounts to USD 400 million, enabling the company to produce cement for the domestic market and clinker for the export market. This is a non-oil investment greater than others already performed in Timor-Leste and will be executed in the municipality of Baucau.
This project will develop a plot with 600 hectares. In addition to producing good quality cement, it will reduce the importation of that commodity, and during the development phase will create jobs for approximately 650 people.
“This investment is considered strategic and will offer opportunities of sustainable work to our young people”, stated the Minister of State, Coordinator of Economic Affairs and Minister of Agriculture and Fisheries, Estanislau da Silva. The Minister added that the impact of this investment, in addition to reducing unemployment, will contribute to the economic diversification programme and will stimulate a new and significant activity in the country.
The evaluation process of this investment involves directly the National Petroleum and Mineral Authority, the Ministry of Petroleum and Mineral Resources, the Ministry of Finance, the Office of the Minister of State, Coordinator of Economic 
Affairs Coordinator, the Ministry of Justice, in particular through the Secretary of State of Land and Property, the Ministry of Commerce, Industry and Environment and the public company TradeInvest.
In this event, other companies also received the investment certificates: Stamford Medical Center, Lda., L & O Unipessoal, Lda. (hotels), and the Palm Springs Hotel, Lda.
The Ministers of Social Solidarity, Isabel Guterres, of Public Works, Transport and Communications, Gastão de Sousa, of Petroleum and Mineral Resources, Alfredo Pires, and the Deputy Minister of Finance, Helder Lopes, also attended in the ceremony, together with representatives of civil society and of the Diplomatic Corps.
The declaration of the Government Spokesperson on this matter is here.