DUSHANBE, April 23, 2013, Asia-Plus – The International Finance Corporation (IFC) is helping Tajikistan improve its investment climate and promote foreign investment and international trade by streamlining government administration and eliminating legal red tape.
According to IFC Dushanbe Office, IFC and the American Chamber of Commerce are partnering with the Tajik Government to help the country join the Hague Convention on Abolishing the Requirement of Legalization for Foreign Official Documents, commonly known as Apostille Convention.
Replacing the traditionally lengthy legalization process with an authentication certificate, the Apostille Convention will help simplify the process of producing official documents abroad and give companies a high degree of legal certainty in cross-border situations.
“For a foreign company or an individual to establish a business in Tajikistan, the legalization of documents issued by foreign authorities is mandatory, time consuming, and costly,” said Christopher Miller, IFC Country Officer for Tajikistan. “The Apostille Convention will greatly simplify the process, facilitating investment growth and promoting cross-border business.”
The initiative is part of IFC Business Regulation and Investment Policy Project, implemented in partnership with the United Kingdom’s Department for International Development and Switzerland’s State Secretariat for Economic Affairs (SECO). IFC’s ongoing support to the Tajik Government includes harmonization of appropriate legislation and development of new rules and instructions.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. It helps developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, IFC’s investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges.
