DILI, 31 january 2024 (TATOLI) – Since 2005, the Investment and Export Promotion Agency (TradeInvest, I.P), has issued Declaration of Benefits to 236 national and international companies. These benefits have been formalized via investor certificates, documents that explain the benefits and incentives to be granted by the state. The process to attribute the Declaration of Benefits in accordance with the Private Investment Law No. 15/2017.
The document also defines the obligations of the holder, the conditions for its revocation, and the start, implementation, and completion dates of the investment or reinvestment project.
The Executive Director of TradeInvest, Arcanjo da Silva, said that the 236 companies had submitted investment proposals totaling US$4 billion.
Silva explained that after the government reformed the investment law in 2016, the institution granted 37 benefit declarations with an investment of US$1 billion. In 2023, five international companies were granted declarations of benefits with an investment cost of around US$53 million.
“We currently have ten investment requests, four of which are at the discussion stage as the government and the investors must reach an agreement, for example, on a land lease contract, before they can start commercial activities,” Silva told Tatoli in an exclusive interview.
He said that the current Coordinating Minister for Economic Affairs, Francisco Kalbuadi, approved four investment proposals between july and december last year, worth US$40 million.
Silva also pointed out that most of the companies that have received benefits have invested in agriculture, horticulture, tourism, cattle breeding, and fish and crab cultivation.
Journalist: Camilio de Sousa
Editor: Filomeno Martins
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