Adétikopé Industrial Platform welcomes new investors

Investments

Thursday, 18 April 2024 16:36

Adétikopé Industrial Platform welcomes new investors

(Togo First) - The Adétikopé Industrial Platform (PIA) in Togo has experienced a surge in investor interest in recent months, reflecting its increasing importance in the country's industrial sector.

The Adétikopé Industrial Platform (PIA) in Togo has experienced a surge in investor interest in recent months, reflecting its increasing importance in the country's industrial sector.

The PIA, jointly owned by the state (35%) and Arise IIP (65%), has recently welcomed nearly a dozen new investors, as announced by the institution's communication department on April 17, 2024. These newcomers include Brilante Industrie Togo, entering the shoe manufacturing sector, and General & DOP Park Industries, focusing on plastic bag production.

New Huasha Company Limited will introduce plastic tableware manufacturing, while One Dollar International Limited (ODIL) will specialize in beverage production. Smarcoft Recycle Tech will engage in cotton recycling, ST2A in agro-food processing, and Viavce Group in aluminum and plastic pipe manufacturing.

These companies join existing players such as Togo Soja and Nutrisource, already in production, and Dongaco (bottling Coca-Cola products) and others, who are still building their facilities on the platform.

The PIA currently hosts 21 investors, with 13 already in operation or in the process of setting up. The platform has vast growth potential, with approximately 150 hectares of unoccupied land available for lease. This land reserve represents a tangible opportunity for future investors to join an industrial infrastructure ready to accommodate various manufacturing and commercial activities.

"We welcome companies that are either under the Free Zone code or under the Investment code," said Esther Kampor, marketing assistant at the PIA. She emphasized that depending on the chosen status, setting up a business in this zone allows for tax incentives, including reductions in corporate taxes and exemptions on equipment imports.

Local Investors

The PIA is also actively courting local investors, with several Togolese companies already among the investors. These include the Bawason Group, dedicated to biofuel production, and ST2A in the agro-food sector.

To further encourage local investment, the PIA has implemented incentive measures, including a reduction in the land lease price to CFA2,500 per square meter per year. This policy aims to make the platform even more accessible to local businesses, supporting endogenous economic growth.

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REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.