Togo is the best FDI performer in the world, given its economy’s size

Economic governance
Friday, 04 September 2020 15:30
Togo is the best FDI performer in the world, given its economy’s size

(Togo First) - According to the 2020 Greenfield FDI Performance Index released this month, Togo is the world’s top performer in terms of foreign direct investments, with a score of 10.83 and 11 FDI projects attracted last year. 

Togo “attracts more than 10 times the amount of greenfield FDI that might be expected given the size of its economy.” It thus exceeds the annual average of the performance index, despite being a newcomer in the rankings (only countries that attract 10 FDI projects or more are featured in the index). 

The largest share of FDIs Togo attracted in the period under review was a double partnership inked with Africa’s richest Aliko Dangote. Signed in November 2019, the partnership covers the establishment of a $2bn phosphate fertilizer processing facility and a $60m cement factory. Another major FDI project announced in the country is the construction of the Blitta solar plant ($33.5m) by Amea Power. 

This performance could be attributed to an improved business climate due to reforms introduced by the business climate cell which is headed by Sandra Ablamba Johnson,  Minister Delegate, Adviser to the President of Togo.

In the rankings, after Togo, Rwanda is next with a score of 10.6. Singapore is the 10th best performer in terms of attracting FDIs. 

On the other side of the coin - the 10 countries that attracted the least FDIs in 2019 given their economy’s size - Japan is first with 211 projects and Ecuador is the 10th.

Séna Akoda

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