The government of Timor-Leste (East Timor) has approved a proposal to build a brewery presented by Heineken Asia Pacific Pte. Ltd. involving an investment of over US$40 million, the government said in a statement issued Tuesday in Dili.
A statement on the Council of Ministers meeting of 21 November said that as the government decided to approve the investment agreement with Heineken the company would be awarded tax benefits as outlined in the country’s Investment Law.
Heineken Asia Pacific, based in Singapore, had previously announced its intention to invest in Timor-Leste in building a factory to produce beer and alcoholic and non-alcoholic beverages.
At the same meeting, the government analysed an investment project from Pelican Paradise Holdings Timor-Leste, also based in Singapore, to build and operate a five-star hotel complex, between Dili and Tibar, with estimated investment of US$310 million.
The project includes a hotel with 492 rooms, gym, restaurant, spa, convention centre with capacity for 1,500 people, a golf course, shopping centre and residential area. (macauhb/TL)