Strong political will
The country’s strong political will to improve the business environment has led to an ambitious National Development Plan and a Government Roadmap. Togo has adopted new legislation affecting land, labour, taxation, customs administration and commercial litigation.
The government has also digitalized many of the services it provides businesses and entrepreneurs and made progress in setting up the country’s first special economic zone – an area in which the authorities aim at promoting investment in industrial activities.
“The government intends to play its full part in maintaining a business climate favourable to domestic and foreign investment, as well as all the elements that make Togo a destination of choice in the sub-region,” Togo’s minister of investment promotion, Rose Kayi Mivedor, said.
Made in Togo
The UNCTAD report calls for reforms and policies that are better aligned with the concerns of businesses – foreign and local.
Many local entrepreneurs would like more involvement in designing the reforms, which they perceive as targeting only foreign investors, the review says.
Togo’s businesses are critical to achieving the country’s development objectives, improving its overall competitiveness, and upgrading goods and services produced in the country.
Most of the businesses are small, operate informally, and face many challenges to take advantage of the government’s programmes and initiatives.
“Their access to markets is hampered by a lack of export support, complex procedures and weak or non-existent links with foreign firms, preventing the transfer of technology and know-how,” UNCTAD’s report says.
Source link : https://www.un.org/africarenewal/news/togo-plans-investment-reforms-drive-sustainable-growth
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Publish date : 2023-05-05 07:00:00
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