Togo Enhances Business Climate Through Reforms in 2020

Togo is making substantial progress in improving its business environment, ranking fifteenth globally and first in Africa in the 2020 Doing Business Starting a Business index. Key reforms have been implemented across various sectors, including contract enforcement, trading across borders, electricity access, property registration, public procurement, and taxation, leading to enhanced efficiency and accessibility for businesses.

Togo has made significant strides in enhancing its business climate, as evidenced by its strong performance in the 2020 Doing Business rankings, where it ranks fifteenth globally and first in Africa regarding the Starting a Business index. The government continues to foster a culture of reform, implementing various initiatives to bolster the ease of doing business. In the area of Enforcing Contracts, Togo has risen dramatically in the rankings by establishing a series of reforms designed to facilitate the execution of contracts. These reforms include the creation of specialized chambers for small debts, the establishment of commercial courts, and the implementation of the FORSETI COMMERCIAL platform, which provides simplified access to legal resources. Togo has also fixed a maximum period of 100 days to resolve commercial disputes, demonstrating its commitment to efficiency. Togo has notably improved its position in the Trading Across Borders category, emphasizing digitization and expedited processes for import and export procedures. Such measures have reduced delays significantly, thereby streamlining international trade operations. Further progress can be observed in the Construction Permit index, where Togo advanced from the 133rd to the 127th position. The government’s commitment to further improvements in this domain is evident through its introduction of multiple reforms. In the Getting Electricity segment, Togo has consistently improved its ranking over the past two years. This success is attributed to a series of reforms designed to simplify access to essential utilities such as power and water. The administration aims to sustain this momentum by implementing additional reforms. Property registration has seen the most remarkable enhancement among all Doing Business indicators since 2018. Togo is now determined to surpass Rwanda, the leading country in this category within Africa, reflecting its vigorous reform efforts aimed at facilitating property registration processes. The modernization of the public procurement framework is also underway, characterized by professionalization and digitization efforts. These reforms are designed to advance the sector, ultimately benefiting the private sector as outlined in the National Development Plan. Lastly, reforms targeting tax payments have been introduced, aiming to create an attractive tax environment for investors and economic operators. Through digitization, Togo has optimized its tax framework by replacing and eliminating certain taxes, demonstrating a proactive approach to enhancing the business ecosystem.

Togo has been engaged in a comprehensive reform agenda aimed at improving its overall business environment. This has included a focus on various aspects of doing business, such as the ease of starting a business, enforcement of contracts, trading across borders, construction permits, electricity access, property registration, public procurement, and taxation. The country’s efforts have been recognized in international rankings, where it has climbed significantly, particularly in the 2020 Doing Business report by the World Bank.

In conclusion, Togo’s ongoing reform efforts have resulted in marked improvements across several indices in the Doing Business rankings. The country’s commitment to enhancing its business environment through measures focused on efficiency, digitization, and regulatory reforms has positioned it favorably in Africa and globally. As Togo continues to implement reforms, it is poised to attract further investment and stimulate economic growth.

Original Source: www.togofirst.com