Togo's commitment to reform is on full display at the ongoing Diaspora Investment Forum, where the country is showcasing its latest advancements in business and investment. Here's a breakdown of the key areas where Togo is making significant strides:
Starting a Business
Togo has climbed to the 15th position globally and 1st in Africa in the 'Starting a Business' category of the 2020 Doing Business ranking. This achievement is a testament to the country's ongoing efforts to streamline business registration processes, making it easier for entrepreneurs to launch their ventures.
Enforcing Contracts
Togo has made remarkable progress in contract enforcement, rising significantly in the Doing Business ranking over the years. This improvement is attributed to the country's dedication to enhancing its business climate and legal framework, ensuring a more favorable environment for business operations.
Contract Execution
Togo has implemented a range of reforms to streamline contract execution:
- Special Chambers of Commerce: Dedicated chambers for handling small debts.
- Court of Appeal Chambers: Specialized chambers within the Court of Appeal for efficient case management.
- Distinct Clerks: Separate clerks for civil and commercial cases to ensure specialized expertise.
- Commercial Courts: Establishment of commercial courts in Lomé and Kara for faster resolution of business disputes.
- Legal Access: Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform for efficient legal processes.
- Dispute Resolution: A maximum period of 100 days is set for settling commercial disputes, ensuring timely resolution.
Trading Across Borders
Togo has made significant strides in the 'Trading Across Borders' category, improving its ranking by focusing on digitalization and reducing delays in import and export procedures. This reform has made international trade more efficient and less time-consuming for businesses.
Construction Permits
Togo's construction permit process has seen improvements, moving up in the Doing Business ranking. The country aims to further enhance this area with additional reforms introduced this year, making the process more accessible and efficient for developers.
Getting Electricity and Water
Togo's efforts to improve access to essential utilities like electricity and water have been recognized. The country's consistent ranking rise in the 'Getting Electricity and Water' category is a result of reforms aimed at simplifying the process for businesses. Lomé plans to continue this momentum with further reforms in the coming year.
Registering Property
Property registration has seen significant improvements in Togo since 2018. The country has set its sights on surpassing Rwanda, the current leader in Africa in this category. Lomé's recent reforms have played a crucial role in this progress, and more changes are on the horizon.
Public Procurement
Togo's public procurement framework is undergoing a modernization process, focusing on both professionalization and digitalization. These reforms aim to benefit the private sector, which is a key focus of the National Development Plan. The country is committed to creating a more efficient and transparent procurement system.
Paying Taxes and Duties
Togo has implemented important tax reforms to enhance its business environment. By replacing certain taxes and offering exemptions, the country aims to provide the most attractive tax framework for investors and economic operators. Digitization plays a vital role in this process, ensuring a more streamlined and efficient tax system.
