Representatives of Federation of Indo-Israel Chamber of Commerce (Northeast Regional Chapter) and the Indigenous Chamber of Commerce and Industries (ICCI) during the signing of a A Memorandum of Association (MoA) in Guwahati on October 16.
Guwahati, October 18 (MExN): A Memorandum of Association (MoA) was made between the Federation of Indo-Israel Chamber of Commerce (Northeast Regional Chapter) and the Indigenous Chamber of Commerce and Industries (ICCI) on October 16 in Guwahati.
The MoA will remain in effect for a period of one year ending October 16, 2023.
According to a press release, under the MoA both parties would work in cooperation towards a common goal to promote the indigenous entrepreneurs, farmers, technology promoters and artisans of the North-East India in general and state of Assam in particular.
The ICCI shall prepare a baseline Opportunity Study for discussion with FIICC and in finalising the process to be adopted in pursuing any project.
The scope of inputs shall also be discussed mainly related to identification of the entrepreneurs/farmers/service promoters, land resources, meeting of administrative and statutory requirements, raising of capital, market identification, technical data as may be required, scale-based process technology, human resource development and other techno-commercial matters, it said.
As per the MoA, the responsibility of ICCI would be to identify the entrepreneurs/farmer groups/investors, empowering them through knowledge related to the venture, provide techno-economic feasibility studies, essential special studies, market study or any other services which may be required by the investors/entrepreneurs, for transforming the project proposal to reality (if desired by the investor). ICCI may charge the investors for all such services, it said.
In the event that a proposal is identified, it said that the ICCI jointly with FIICC and the entrepreneur would finalise the role of all parties for which the three parties shall enter into an Agreement describing all details of Modus Operandi.
“That FIICC shall provide experts on agreement of payment to the concerned, training, demonstration which may be in actual practice in Israel or locally at site, as may be applicable for which ICCI shall be agency undertaking the programme where the government support and promotion is availed. However, all such visits and exchange programmes shall be only after finalisation of the project, and its scale by the project promoters/investors, and having actually started the project with initial investment and necessary clearances and documentation,” as per the MoA.
Further, the MoA also stated that scientific and technological input with opportunity for global marketing would be the primary focus of FIICC with specific terms and conditions laid out between the companies interested to undertake the project, whereas physical resources, human input, administrative and logistic support services shall be the responsibilities of ICCI during the entire process of cooperation.
In addition to this, both the parties shall enter into separate agreement for each venture/project where all terms and conditions shall be defined explicitly with financial implications, it added.
As per the release, the MoA was signed jointly by representative of both parties which included FIICC Head, Eastern Regional Chapter David Ashkenazy and Benjamin Ashkenazy along with ICCI President Dilip Sarma, Chief Convenor Anup Chetia, with ICCI Secretary General Utpal Hazarika and Vice Chairman Biswajit Hazarika as witnesses.
