A delegation from Togo has described the ‘Tamchy’ Special Financial Investment Territory (SFIT) as a model for African countries

A government delegation from the Togolese Republic visited the ‘Tamchy’ Special Financial and Investment Territory (SFIT ‘Tamchy’) and examined its legal and tax regime. This was reported by the SFIT.

The delegation was led by Arthur Lilas Trimoua, Togo’s Minister Delegate for Investment Promotion, Industry and Economic Sovereignty. Representatives of Togo were given a presentation on the jurisdiction’s activities, its infrastructure, opportunities for investors and residents, as well as the specifics of the special regime’s operation within the framework of the EAEU.

Separately, the parties discussed Kyrgyzstan’s experience in establishing the ‘Tamchy’ Special Financial Investment Territory (SFIT) and drafting legislation to regulate its operations. The Togolese side was interested in the stages involved in preparing the regulatory framework and organising the work of the special financial territory.

“I am impressed by the work that has been done and by how, in less than a year and with strong political will, a tourist destination can be transformed into an international financial centre. The ‘Tamchy’ Special Financial and Investment Territory can serve as an example for many African countries,” said Trimoua.

According to him, the model established in Kyrgyzstan is of interest to Togo, as it could help attract investment and channel capital towards economic development.

Representatives of the Tamchy Special Financial Jurisdiction (SFJ) expressed their readiness to continue sharing experience with their Togolese counterparts on the establishment and development of special financial jurisdictions.