The Togolese government plans in the National Development Plan 2018-2022 currently being finalized, the establishment of a manufacturing center and two industrial parks to give life to the industrial sector, so far developed. The industrial parks will each have to consist of 15 intensive factories, oriented towards the export of textiles, shoes, etc.
According to the Togo First website, the implementation of this plan should boost Togolese textile exports to several countries, including the United States. The country benefits from a textile visa to facilitate access to its textile products to the US market under the law on growth and development opportunities in Africa (AGOA).
In the textile sector, priority will be given to promoting local know-how, cotton production and the search for foreign strategic partners.
This ambitious project is expected to attract foreign direct investment in the order of 1,000 billion FCFA over the period 2018-2022, it says. The ongoing improvement in the business climate should reassure foreign investors.
The project aims to create 100,000 jobs over the period indicated. To do this, it is planned to deploy a strategy focused on the development of complete value chains of key sectors of agribusiness.
Eventually, the government plans to achieve average annual growth of the industrial and manufacturing sector of the order of 10% per year, driven by new sectors.
Source: Ecofin agency