President of Heineken Asia says Timor Leste has good climate for foreign investment

9 January 2015

Timor Leste (East Timor) offers “an excellent climate for foreign investment,” the President of Heineken Asia MTN Pte, Roland Pirmez, said in Dili, who explained that the statement was based on the “friendly environment” he found in the negotiations for the company to build a factory on the outskirts of Dili.

Pirmez was speaking to Portuguese news agency Lusa after signing an agreement in Dili with Veneranda Martins, Timorese Secretary of State for the Support and Promotion of the Private Sector, under which the beermaker will build a factory in Timor Leste as part of an investment of US$40 million.

The project, approved last year by the Timorese government after only about a year of negotiations is expected to create up to 1,000 jobs; 200 direct and 800 indirect.

“We expect to start construction of the factory as soon as possible and have it running within two years,” he said noting that the investments “break-even” will be achieved before 2020.

Pirmez also confirmed that in addition to the brands already produced by Heineken, the Timor Leste unit is likely to have a Timorese own brand. (macauhub/TL)