Togo plans to get a new investment framework to improve business climate

Economic governance
Friday, 08 February 2019 10:12
Togo plans to get a new investment framework to improve business climate

(Togo First) - Togo wants to establish a new investment framework, in line with its development goals.

Indeed, during the recent council of ministers, Sani Yaya, minister of economy and finances, declared that the measure would involve reforming existing framework, “so it becomes more attractive for investors, while ensuring their contribution to public finances”.

Streamlining tax expenditures could boost economic activity and help reduce these expenditures while keeping business environment attractive enough for investors. This was revealed by the ministers of council, based on a detailed assessment report on the investment framework and relating regulatory texts.

In this vein, some parts of the investment and mining code should be amended. Also, public powers should develop a relevant ecosystem, governance, prospection and support initiatives.

In the long term, the Togolese government wishes to boost and simplify support to investors. This way, more revenues will be secured from private sector which is expected to contribute 65% of the country’s national development plan (PND).

Séna Akoda

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