Togo to create two industrial parks

Wednesday, 16 May 2018 17:33
Togo to create two industrial parks

(Togo First) - Under its 2018-2022 national development plan which is being finalized, Togo’s government plans to establish a manufacturing hub and two industrial parks in the country. Each of the parks will have 15 intensive factories producing textile, shoes, among others, for export.

Indeed, the plan should help boost Togolese textile exports to many countries, such as the U.S (in line with AGOA).

The current project will focus on boosting local know-how, cotton production and improve the search for strategic foreign partners.

It is expected to capture up to CFA1,000 billion of foreign direct investments from 2018 to 2022. Efforts to improve business climate should contribute to that.

The project aims at creating 100,000 jobs over the considered period. In this framework, the government intends to develop value chains of major subsectors of Togo’s agroindustry. Based on this, it eyes an annual growth of 10% of industrial and manufacturing sectors.

Séna Akoda

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