Togo has made significant progress in the 2020 Doing Business rankings, achieving fifteenth globally and first in Africa under the Starting a Business index. The country has implemented reforms in enforcing contracts, trading across borders, construction permits, and property registration. Togo also focuses on modernizing public procurement and optimizing tax structures to improve its business climate.
Togo has made significant strides in reforming its business environment, achieving remarkable advancements across various indicators within the 2020 Doing Business rankings. With its position rising to fifteenth globally and first in Africa under the Starting a Business index, the country exemplifies a commitment to reformative dynamics aimed at enhancing accessibility and efficiency for entrepreneurs.
Under the Enforcing Contracts indicator, Togo’s efforts to improve the business climate have led to a substantial rise in its ranking over the past few years. Noteworthy measures include the establishment of special chambers of commerce for small debts and the introduction of commercial courts in key locations like Lomé and Kara, considerably expediting the resolution of civil and commercial disputes.
In the arena of Trading across Borders, Togo has undertaken various initiatives focusing on digitizing and streamlining import and export processes. These reforms aim to reduce delays significantly, thus reflecting in its improved standing on the index. Additionally, with aspirations to continue advancing, the country has also made progress in obtaining construction permits, moving from 133rd to 127th place, and intends to further improve this ranking.
Another area of focus has been the Getting Electricity indicator, where Togo’s ranking has seen a consistent rise due to multiple reforms targeting easier access to power. Moreover, property registration has been notably enhanced, transforming Togo’s position from one of the lowest to a more competitive status, with the ambition to surpass Rwanda’s performance in Africa.
The modernization of public procurement is another crucial development, as Togo has engaged in professionalization and digitization efforts, thereby benefiting the private sector under the National Development Plan. In its relentless pursuit to create a favorable business climate, the country has also introduced substantial reforms aimed at optimizing tax and duty payment structures through digitization and exemptions.
Togo’s ongoing reforms reflect a strong commitment to enhancing its business environment and competitiveness on a global scale. Over the last few years, the government has implemented a series of measures to facilitate entrepreneurship, address bureaucratic inefficiencies, and create an attractive environment for investors. These efforts are crucial to positioning Togo as a leading business destination in Africa and improving overall economic stability by fostering private sector growth and international trade.
In conclusion, Togo’s comprehensive reform initiatives across various business indicators signify its dedication to fostering a robust entrepreneurial landscape. The nation’s progress is evident in its improved rankings in the Doing Business report, showcasing efforts in simplifying processes for starting and operating businesses, enhancing public procurement systems, and modernizing tax structures. These advancements not only enhance the business climate but also contribute to Togo’s overall economic development and attractiveness as a destination for investment.
Original Source: www.togofirst.com
