{"id":12916,"date":"2021-09-22T17:21:03","date_gmt":"2021-09-22T15:21:03","guid":{"rendered":"https:\/\/ecomnewsafrique.com\/?post_type=news&p=12916"},"modified":"2021-09-22T17:21:05","modified_gmt":"2021-09-22T15:21:05","slug":"togo-its-economy-would-have-resisted-the-covid-19-crisis","status":"publish","type":"news","link":"https:\/\/ecomnewsafrique.com\/en\/2021\/09\/22\/togo-its-economy-would-have-resisted-the-covid-19-crisis\/","title":{"rendered":"Togo: Its economy would have resisted the Covid-19 crisis"},"content":"\n \n \n \nWhile Togo’s economy has suffered the consequences of the Covid-19 crisis, it has above all been illustrated by its resilience. Indeed, while many West African countries recorded negative growth in 2020, Togo continued to show upward growth, and if the latter, at 1.8%, is less marked. than the 5% average annual increase recorded in previous years, it still shows the solidity of the Togolese economic model. \n\n \n \n\n\n \n \n \nThe country also continued to attract foreign investment during the pandemic. These good results are the fruit of a successful strategy of aggressive reforms and strong political commitment under the leadership of the Head of State, Faure Essozimna Gnassingb\u00e9, over the past five years. Togo has thus progressed by 40 places in the World Bank’s Doing Business 2020 ranking, placing itself at the top of the reforming countries in Africa and third in the world in this area. \n\n \n \n\n\n \n \n \nThis dynamic should continue, according to the Minister, who declares: \u201cA growth of 4.8% of the GDP is expected for 2021, with an average annual objective of 7% for the next five years, reflecting the impact of the projects of planned infrastructure and associated arrangements. \n\n \n \n\n\n \n \n \nThis growth is based on the active participation of the private sector, including foreign investors, as well as on the return of confidence in the regional economy. During the interview, the Minister returns to the reforms put in place to boost the economy and simplify commercial activities, citing for example the possibility of launching a business in less than four hours, on the measures adopted during the crisis to support the economy and on major current or future projects. \n\n \n \n\n\n \n \n \nShe also stresses the importance of Special Economic Zones, which will play a key role in the country’s industrialization and economic recovery. To this end, the Industrial Platform of Adetikop\u00e9 (PIA) was launched in June this year: it should boost the region’s SMEs while offering great opportunities to foreign investors wishing to penetrate the Togolese economy and benefit from ” privileged access to the wider market of ECOWAS countries. \n\n \n \n\n\n \n \n \nActing as a single point of access, the PIA facilitates business transactions and, lowering production costs for businesses, is synonymous with greater competitiveness for Togo. \n\n \n \n\n\n \n \n \nThe many job creations to come, particularly in the textile sector, energy transition and the development of digitization, with for example the inauguration of the country’s first data center in June, are also mentioned by the Minister. \n\n \n \n\n\n \n \n \nOBG Africa Editorial Director Bernardo Bruzzone welcomed the publication of this interview, which underlines the dynamism and resilience of the Togolese economy in the face of the global health crisis and highlights the strengths of a nation resolutely turned towards the future: \u201cTogo has been able to rise in recent years to the rank of a very attractive destination for investments. Benefiting from an ideal location which makes it a gateway to the countries of the sub-region, competitive energy costs and a constantly improving business climate, the country has great days ahead. ” \n\n \n \n\n\n \n \n \nThe full interview can be viewed at: https:\/\/oxfordbusinessgroup.com\/views\/kayi-mivedor-minister-investment-promotion \n\n \n \n\n\n \n \n \nAbout Oxford Business Group Oxford Business Group (OBG) is a business intelligence and consulting firm present in more than thirty countries in Asia, Africa, the Middle East and the Americas. The firm produces strategic intelligence on the world’s fastest growing markets to guide business and investment decisions. \n\n \n \n\n\n \n \n \nThrough its range of products – economic watch: Economic News & Views, OBG CEO Surveys surveys; events and conferences; exclusive video capsules: Global Platform, annual publications: The Report – and its consulting division, OBG develops exhaustive and precise analyzes of macroeconomic and sectoral developments.\n\n \n \n\n","author":15,"featured_media":11288,"comment_status":"open","ping_status":"closed","template":"","tags":[485,713,699,698],"location":[652],"class_list":["post-12916","news","type-news","status-publish","has-post-thumbnail","hentry","tag-covid19-3","tag-economic-analysis","tag-economy","tag-news","location-togo-en"],"short_url":"https:\/\/bit.ly\/3zxPBR5","have_related_news":"done","chapo":"Oxford Business Group (OBG) is set to publish an interview with Togo's Minister of Promotion and Investment, Kayi Mivedor. The Minister returns to the improvement of the business climate in the country and the important reforms undertaken to boost the economy, on the major structuring projects that have emerged despite the Covid-19 crisis, such as the Industrial Platform Adetikop\u00e9, and on medium-term growth prospects, particularly in terms of infrastructure development and job creation, which make Togo a preferred destination for foreign investment.","media":{"src":"https:\/\/ecomnewsafrique.com\/app\/uploads\/sites\/4\/2021\/03\/business-550x360.png","srcset":"https:\/\/ecomnewsafrique.com\/app\/uploads\/sites\/4\/2021\/03\/business-550x360.png 550w","sizes":"550px","alt":"business","width":550,"height":360,"ratio":0.7,"credit_photo":""},"media-news-header":{"src":"https:\/\/ecomnewsafrique.com\/app\/uploads\/sites\/4\/2021\/03\/business-935x658.png","srcset":"https:\/\/ecomnewsafrique.com\/app\/uploads\/sites\/4\/2021\/03\/business-935x658.png 1170w","sizes":"1170px","alt":"business","width":1170,"height":658,"ratio":0.7,"credit_photo":""},"acf":[],"yoast_head":"\nTogo: Its economy would have resisted the Covid-19 crisis - Ecomnews Afrique<\/title>\n<meta name=\"description\" content=\"While Togo's economy has suffered the consequences of the Covid-19 crisis, it has above all been illustrated by its resilience. 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