Togo has achieved significant progress in enhancing its business environment, ranking 15th globally and 1st in Africa for Starting a Business in the 2020 Doing Business index. The country has improved various indicators, including contract enforcement, trading across borders, and property registration, through a series of strategic reforms. These efforts reflect a commitment to creating a competitive and attractive investment climate, aligning with the National Development Plan’s objectives.
Togo has made remarkable strides in enhancing its business environment, ranking fifteenth globally and first in Africa in the 2020 Doing Business index for Starting a Business. This achievement reflects the country’s robust reform efforts aimed at streamlining business processes and improving the overall climate for entrepreneurship.
The nation has also shown significant improvement in enforcing contracts, moving up the rankings due to strategic reforms. These include establishing special chambers for small debt cases, separating civil and commercial case handling, and setting a maximum dispute settlement period of 100 days, all aimed at facilitating business operations.
In the area of trading across borders, Togo has implemented numerous reforms focused on digitalizing and expediting customs procedures. This initiative has resulted in a notably enhanced ranking, demonstrating the country’s commitment to improving trade efficiency.
The construction permitting process in Togo has seen a positive shift, moving from 133rd to 127th place in the global ranking. The government is determined to continue this progress by introducing further reforms aimed at simplifying the construction process.
Togo’s score for getting electricity and water has consistently improved as a result of various reforms that aim to ease access to these essential services. The government plans to continue implementing additional measures to sustain this upward momentum.
Among the Doing Business indicators, property registration has shown the most improvement since 2018. Togo, once lagging in this category, aspires to surpass Rwanda, the top performer in Africa, through ongoing reforms focused on simplifying property transactions.
The country is also actively modernizing its public procurement framework through digitization and professionalization, benefitting the private sector significantly. This modernization aligns with the broader objectives of Togo’s National Development Plan, which emphasizes the importance of a competitive business environment.
To foster a more attractive investment climate, Togo has introduced key reforms to the taxation framework. These reforms include replacing certain taxes, abolishing others, and facilitating exemptions to create a business-friendly tax system driven by the principles of digitization.
In conclusion, Togo continues to demonstrate a strong commitment to enhancing its business landscape through a wide array of reforms across various sectors. From improving contract enforcement and streamlining trade processes to modernizing property registration and public procurement procedures, these initiatives collectively signify Togo’s ambition to foster a competitive and appealing environment for businesses and investors alike. This progressive trajectory not only strengthens Togo’s economic framework but also positions it as a leader in African business reform.
Original Source: www.togofirst.com
