Togo ranks fifteenth in the world and first in Africa on the 2020 Doing Business Starting a Business index due to its continuous reforms. The country has made significant improvements in several categories, including enforcing contracts, trading across borders, property registration, and public procurement. Efforts to enhance tax frameworks demonstrate a commitment to creating a favorable business climate.
Togo ranks fifteenth globally and first in Africa in the 2020 Doing Business Starting a Business index. This achievement is attributed to ongoing reforms aimed at improving the business environment. Efforts to enhance the ease of starting a business reflect a commitment to reformative dynamics in Togo.
In the Enforcing Contracts category, Togo has significantly improved its ranking, moving from one of the lowest to a much higher position since undertaking various reforms. This progress demonstrates a dedicated effort to enhance the business climate through improved contract enforcement practices.
In terms of Contract Execution, Togo has introduced several initiatives, such as special chambers for small debts and distinct clerks for civil and commercial cases. The establishment of commercial courts in Lomé and Kara, along with access to the FORSETI COMMERCIAL platform for legal professionals, aims to expedite the resolution of commercial disputes within a maximum period of 100 days.
Togo’s improvements in the Trading Across Borders indicator have been notable due to reforms that prioritize digitization and the reduction of delays for import and export procedures. These changes facilitate more efficient trade operations in comparison to previous years, reflecting a broader strategy to improve economic engagement.
In construction permits, Togo has jumped from the 133rd to 127th position in the Doing Business index for 2020. The government is striving to sustain this upward trajectory by continuing to implement various reforms pertinent to the construction sector.
Regarding access to electricity and water, Togo has experienced consistent ranking improvements over the past two years. The ongoing reforms aim to ease business operations by facilitating access to essential utilities, with further improvements planned for the near future.
Togo has achieved significant enhancements in Property Registration since 2018, moving away from its previous low rankings. The country seeks to surpass Rwanda, the top performer in Africa on this index, by enacting additional reforms to attract investment in property.
In the realm of Public Procurement, Togo is modernizing its framework through professionalization, digitization, and new legislative regulations. These reforms aim to benefit the private sector, as articulated in the National Development Plan.
To improve the business environment, Togo has implemented essential reforms in paying taxes and duties. Key changes include the replacement and cancellation of certain taxes to establish a more attractive tax framework for investors. The government places a strong emphasis on utilizing digital solutions to streamline these processes.
Togo demonstrates a robust commitment to enhancing its business environment, as evidenced by significant improvements across various Doing Business indicators. The ongoing reforms in contract enforcement, property registration, public procurement, and tax payment are designed to create a more attractive landscape for both local and foreign investors. Continued progress in these areas will likely bolster Togo’s economic growth and competitiveness on the global stage.
Original Source: www.togofirst.com
