The Private Sector Week should contribute to the successful implementation of the PND, organizers say

Economic governance
Monday, 04 November 2019 19:04
The Private Sector Week should contribute to the successful implementation of the PND, organizers say

(Togo First) - Togolese Prime Minister, Komi Sélom Klassou, opened on November 4, 2019, in Lomé, the first edition of the Private Sector Week, in the presence of important figures of the private sector, international finance institutions and various development partners.

Themed, "Private Sector, driver of socio-economic development and growth of Togo," the event aims to foster the implementation of the national development plan (PND 2018-2022) as nearly CFA3,000 billion is expected to be provided by the private sector for this plan. This represents 65% of the total funds needed for the scheme.

The minister of the private sector, Kodzo Adedzé, speaking at the launching noted that it begins only a few days after the 2020 Doing Business report was released. In the latter, Togo's ranking soared by 40 places (the country had already improved its ranking by 19 places in the previous edition).

According to the minister, the event's organization reflects the will of public policies to make the private sector a key partner in line with the structural transformation of the Togolese economy. "This week will allow us to explore means and paths that will enable the private sector to keep playing its role as a key contributor to the country's development," Adedzé said.

For his part, the president of the Togolese chamber of commerce and industry (CCIT), Germain Mèba, declared that the private sector week was organized to celebrate the private sector. He then added that creating an environment favorable to business is the major pillar of the government's vision to make Togo an emerging nation. "The 2020 Doing Business rankings reflect the will of the Togolese State and its partners to create and maintain a business environment that fosters investments," he noted.

However, Mèba believes that achieving a two-digit growth rate (currently forecast at 7.6% by 2022) requires more than just a favorable business environment. The CCIT's chairman indeed indicates that in addition, the emergence of an innovative and competitive private sector, one that creates wealth and participates in key projects of the PND, will also be crucial.

For Laurent Comi Tamegnon, president of the National Council of Employers of Togo (CNP), the private sector week will provide the opportunity to reflect on the private sector's future. Meanwhile, Hawa Cissé Wagué, resident representative of the World Bank in Togo, said the event will help reinforce public-private dialogue in Togo, in line with the PND.

Séna Akoda

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