Heineken says Timor Leste has good climate for foreign investment

East Timor’s deputy prime-minister Fernando La Sama Araújo (r), talks with the president of Heineken Asia Roland Pirmez during a ceremony to sign an agreement to build a beer factory in Dili

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 beer maker will build a factory in Timor Leste as part of an investment of USD40 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.  MDT/Macauhub