Faure Gnassingbé urges his administration to sustain and pursue reforms to improve Togo's business environment, after major leap in latest Doing Business report

Economic governance
Thursday, 31 October 2019 16:02
Faure Gnassingbé urges his administration to sustain and pursue reforms to improve Togo's business environment, after major leap in latest Doing Business report

(Togo First) - Togo released today its country report for the Doing Business 2020. This was during a ceremony chaired by President Gnassingbé, in the presence of some public figures, diplomats, representatives of the private sector and civil society and executives from the World Bank.

On this occasion, participants reviewed Togo's achievements in the latest Doing Business report.

Hence, various figures, such as the Minister-Counselor in charge of the business climate improvement, the World Bank's local representative, and the IFC's vice president mentioned some of the reasons behind Togo's astounding leap in the global rankings over the past two years (from 156th to 97th). They also detailed indicators where Togo improved the most and those where it still has much effort to make.

"The government's decisions, its strong desire, paired with the senior authorities' leadership and pragmatism," are some reasons behind the "Togolese miracle," according to the head of the business climate cell, Sandra Johnson.

For her part, Hawa Wagué from the World Bank declared: "The World Bank is satisfied by these results and Togo's commitment is lauded. On various indicators, Togo is an example that other countries should follow."

The IFC's VP, Sergio Pimenta, also congratulated Togo and especially lauded the strong involvement of the President who in his opinion greatly contributed to the achievement. However, he stressed that "there is still room for improvement and the IFC will support both the authorities and the private sector in the process." The World Bank's arm for the private sector, it should be recalled, opens its offices in Lomé today.

"In Togo, boasting about our victories is not our habit, celebrating them neither. However, today we will put our differences and quarrels aside and celebrate Togo," declared President Gnassingbé.

However, the leader adds, "This is a race so we must increase our pace."

"We have all our chances to attract investors to our country so do not tire of implementing new reforms. Let's work together to pursue and sustain this motion, We have no other choice so let's do it and let's do it well", Faure Gnassingbé said.

Octave A. Bruce

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