Togo has made significant progress in various Doing Business rankings, particularly in Starting a Business and Enforcing Contracts. Key reforms include improvements in contract execution, trading across borders, construction permits, electricity access, property registration, public procurement, and tax regulations. These initiatives aim to create a favorable business climate, attract investment, and enhance the overall economic landscape.
Togo ranks fifteenth globally and first in Africa in the 2020 Doing Business index for Starting a Business, demonstrating its commitment to ongoing reforms. The country continues to implement various initiatives to enhance its business climate, encouraging investment and entrepreneurship.
In recent years, Togo has significantly improved its position in the Enforcing Contracts category. Leveraging substantial efforts to create a more business-friendly environment has allowed Togo to make considerable progress in this area.
Notable improvements in contract execution include the establishment of special chambers of commerce for small debts, creation of chambers of commerce at the Court of Appeal, and distinct clerks for civil and commercial cases. The introduction of commercial courts in Lomé and Kara, as well as access to the FORSETI COMMERCIAL platform for lawyers and bailiffs, aims to expedite dispute resolution within a maximum of 100 days.
Togo has improved its ranking in Trading Across Borders by focusing on digitization and reducing delays in import and export procedures. These reforms aim to facilitate international trade, bolstering the nation’s economic growth.
The country also improved its Construction Permit ranking, moving from 133rd to 127th place in 2020. Togo aims to maintain this momentum with further initiatives aimed at simplifying the construction process and attracting investment.
Togo’s performance in the Getting Electricity category has improved significantly due to multiple reforms that ease access to power and water for businesses. Continued efforts are planned to maintain this positive trajectory.
Since 2018, Togo has made the most strides in Property Registration within the Doing Business indicators. The government is keen to surpass Rwanda, the current best performer on this index in Africa, by implementing additional reforms in the near future.
In public procurement, Togo continues to modernize its framework through professionalization and digitization efforts. These reforms facilitate private sector involvement, aligned with the goals of the National Development Plan.
To enhance the business environment, Togo has introduced vital reforms in the domain of Paying Taxes and Duties. By replacing and canceling several taxes, the authorities aim to create an attractive tax framework for investors and economic operators, supported through digitization efforts.
Togo is implementing a series of reforms aimed at improving its business environment across various sectors, including starting a business, enforcing contracts, and enhancing trade efficiency. Continuous progress in areas such as property registration and public procurement demonstrates the country’s commitment to attracting investment and fostering economic development. The government’s initiatives reflect a strategic approach to establish a competitive edge in the African and global markets.
Original Source: www.togofirst.com
