Overview of Reforms in Togo
Togo is making big strides in its business environment. Recently, it ranked 15th globally and 1st in Africa for starting a business, according to the 2020 Doing Business report. This is a huge leap, showing Togo’s commitment to reform.
Improving Contract Enforcement
A few years ago, Togo struggled with the enforcement of contracts. Now, thanks to various efforts, it has significantly improved its standing on the Doing Business index. This progress reflects the government’s dedication to enhancing the business climate.
Steps to Support Businesses
- Special chambers of commerce for small debts have been established.
- Commercial cases are now managed by dedicated clerks.
- Commercial courts have opened in Lomé and Kara.
- Lawyers and bailiffs can access the FORSETI COMMERCIAL platform.
- A timeline of 100 days has been set to resolve commercial disputes.
Trading Across Borders
Togo has made strides in trading across borders by adopting digital reforms. These changes focus on reducing delays in import and export procedures, making it easier for businesses to operate internationally.
Construction Permits and Electricity Access
In construction, Togo’s ranking improved from 133rd to 127th for permits. The government plans to continue this trend with more reforms. For the electricity sector, the nation shows consistent improvement, making power access easier for businesses, which will boost economic growth.
Property Registration
Since 2018, Togo has made significant gains in property registration. After being near the bottom of the rankings, it now aims to surpass Rwanda, the top performer in Africa. Recent reforms have been aimed at attracting investment and simplifying processes.
Modernizing Public Procurement
Togo is also modernizing its public procurement system. With a focus on professionalization and digitization, the government aims to streamline processes and make it easier for private sector participation.
Tax Reforms
When it comes to taxes, Togo is working to enhance its attractiveness to investors. Recent changes include the introduction of new tax exemptions and the removal of certain taxes, all facilitated through digital processes.
Conclusion
Togo’s reforms are transforming its business landscape. From contract enforcement to tax incentives, each step is designed to foster a vibrant economy. This commitment to improvement not only benefits local businesses but makes Togo a competitive player in the global market.
For more detailed insights, you can explore the World Bank’s full [Doing Business report](https://www.worldbank.org/en/news/feature/2020/10/01/doing-business-2020) for comprehensive data and statistics on these reforms.
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