Togolese Minister-Delegate Says Kyrgyzstan’s Tamchy SFIT Could Serve as Model for African Countries

The Tamchy Special Financial Investment Territory (SFIT) welcomed a delegation from the Togolese Republic led by Minister Delegate for Investment Promotion, Industry and Economic Sovereignty Arthur Lilas Trimua.

The delegation also included Mawussi Djossou Semondji, member of parliament and chair of the lower house Finance and Economic Development Committee; Adji Oteth Ayassor, senator and chair of the upper house Finance and Economic Development Committee; Senator Alexis John Coffi Darwin Aquereburu; and Moyeme Baniab, technical adviser to the minister of finance and budget, among others.

The Togolese delegation toured the premises of Tamchy SFIT and learned about the principles governing its operations. This included a presentation delivered by Tamchy SFIT Chief Registrar Iskender Sydygaliev on the jurisdiction’s infrastructure, its special legal and tax regime, and the opportunities available to investors and residents.

The discussion focused on the Kyrgyz Republic’s experience in establishing Tamchy SFIT and its regulatory and legal framework. The Togolese delegation was particularly interested in how the relevant legislation was developed and adopted, how the territory is administered, and how its special regime fits with the framework of the Eurasian Economic Union.

"I am impressed by the work carried out and by how, in less than a year, strong political commitment can make it possible to transform a tourist destination into an international financial centre. Tamchy SFIT can serve as an example for many African countries, as it provides a framework for attracting investors and enabling investment to contribute to the development of the domestic economy. This is the kind of experience that is highly relevant for countries such as Togo," Trimua said.

Tamchy SFIT expressed its readiness to continue the exchange of expertise with Togo on the establishment and development of financial jurisdictions.