MANILA, Philippines—Consunji family-led DMCI Holdings Inc. is interested to invest in Timor-Leste’s construction sector, according to the Department of Trade and Industry (DTI).
In a statement, the DTI said DMCI Holdings president and chief executive Isidro A. Consunji led a delegation of 17 Filipino construction industry executives to Timor-Leste—a relatively young democracy that was also known as East Timor when still a territory of Indonesia—last February.
Consunji also chairs the Philippine Overseas Construction Board (POCB), an implementing arm of the DTI-attached agency, Construction Industry Authority of the Philippines (CIAP).
DTI Undersecretary Victorio Mario A. Dimagiba said the business mission was a result of Timor-Leste Prime Minister Kay Rala Xanana Gusmão’s visit to the Philippines last year.
The DTI quoted Consunji as saying that DMCI Holdings and other Philippine companies deem that “Timor-Leste has good potential for investment in the areas of construction, natural resources and tourism.”
Consunji also cited opportunities in Timor-Leste’s export, gas and oil industries.
The DTI said Consunji was quoted by Timor-Leste newspaper Grupo de Media Nacional as saying that “the Philippine business enterprise is enthusiastic to invest immediately in Timor-Leste, particularly in the most vital sectors.”
DMCI Holdings is engaged in the businesses of coal and nickel mining, construction, residential development, power and water services.